The price of Pepe (PEPE), the Ethereum-based frog-themed meme coin, seems stable today. Like many other cryptos, PEPE has endured a long period of decline.
Currently, the token trades at $0.0000079, which is a 32% 30-day decrease. To erase these losses, the price has to return to $0.000010 at least. But can it?
Pepe Dormant Tokens Have Come Out of Their Shell
A 90-day increase in a meme coin’s Mean Coin Age (MCA) indicates that more previously dormant tokens are being moved back into circulation. MCA measures the average age of all tokens on a blockchain and provides insights into holder behavior.
Typically, when MCA decreases, it signals that investors are moving their assets out of long-term storage and into cold wallets, demonstrating faith in the coin’s long-term value.
However, an increase, like what’s happening with PEPE, suggests that long-held coins are being reintroduced into the market. This usually leads to heightened transaction activity and can be a precursor to sell-offs, as holders release tokens they previously held onto for a long time.
If the trend co
Go to Source to See Full Article
Author: Victor Olanrewaju
Tip BTC Newswire with Cryptocurrency
Donate Bitcoin to BTC Newswire
Donate Bitcoin Cash to BTC Newswire
Donate Ethereum to BTC Newswire
Donate Litecoin to BTC Newswire
Donate Monero to BTC Newswire
Donate ZCash to BTC Newswire
