PEPE: Profit-taking sparks price fall? Investors in profit reach 92%

PEPE, a meme coin, experienced a significant price drop of over 6% in the last 24 hours, with its market capitalization standing at $3.9 billion. Analysis indicates that over 92% of PEPE investors were in profit, suggesting profit-taking as a potential cause for the price decline. Metrics also show a high exchange inflow and a decrease in supply held by top addresses, hinting at a sell-off by major holders.

The outlook for PEPE remains bearish as indicated by a decline in social volume and negative weighted sentiment, suggesting a decrease in popularity and investor confidence. Market indicators like the Relative Strength Index and Chaikin Money Flow also support a potential continuation of the downward trend. Despite the recent losses, PEPE's price is still above its 20-day Exponential Moving Average, which could provide future support.