Can PEPE's declining exchange supply help its price? On the 7th of April, Pepe's [PEPE] supply outside of exchanges had
grown to 242.54 trillion. Quite a leap from March 12th!
When tokens leave exchanges, it suggests
low selling pressure and a bullish sentiment among holders.
Will the token sustain the hike? Usually, such moves are followed by
price appreciation in the coming days or weeks.
At $0.0000072, PEPE saw a
7.93% increase in the last 24 hours, hinting at a recovery.
Comparing exchange and off-exchange supply, Santiment data showed more tokens were
withdrawn than deposited.
However, despite these positive signs, the overall
sentiment isn't as bullish as one might hope.
The Weighted Sentiment fell from 0.60 to near-negative levels, potentially dampening PEPE's prospects.
And what about the ancient ones? The Mean Coin Age (MCA) rose to
32.25, shedding light on investor sentiment.
In this ever-changing crypto landscape, it remains to be seen if PEPE can ride this wave or face new challenges ahead.
