had a major setback on the 18th of May as the meme coin price witnessed a steep decline. A check of its metrics pointed out a few possible reasons behind this bearish price action.revealed that PEPE’s price started to decline sharply in the last few hours. Because of that, the meme coin’s daily price dropped by more than 6%.
To see whether that was the case, AMBCrypto then analyzed Santiment’s data. As per our analysis, the meme coin’s exchange inflow spiked multiple times last week. Moreover, after a sharp rise on the 14th of May, the meme coin’s supply held by top addresses dropped slightly.
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