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PEPE is making a buzz in the market as the recent data from Nansen shows that big investors accumulated the PEPE & FLOKI in their meme coins portfolio.
According to Nansen data, over $50 Million in PEPE and FLOKI were accumulated by smart money traders in the last seven days. The biggest PEPE and FLOKI buyer holds almost 35% of his portfolio in meme coins, including Shiba Inu (SHIB).
In addition, wallets created in 1000 days or less have accumulated over $1.1 Billion in PEPE, while FLOKI received $129 Million in investments for the past seven days. Finally, Solana registered a new daily all-time high for new tokens on May 4, with 14,648 tokens launched that day.
Price And Volume Is Volatile In Recent Months
Price and Volume volatility in recent months demonstrates that the bulls and bears are fighting for the price.
Based on the PEPE price and volume graph, it can be observed that since the beginning of April, the trading volume has decreased from $4.28 Billion to $587.82 Million by the first week of May.
Moreover, during the first week of May, the trading volume dropped from $1.47 Billion to $587 Million, which is a significant decline of approximately 70% in volume. If this trend of decreasing trading volume continues, it may negatively impact the price of PEPE.
Social Volume And Social Dominance Keep declining
Social volume and social dominance of the PEPE crypto price are on the decline, hinting towards the decreased popularity of PEPE crypto currency.
Social dominance and social volume are indicators that indicate increasing or decreasing popularity and awareness of crypto among users on various social media platforms like X, Instagram, and Telegram.
As per the graph of social dominance and social volume, a slow and steady decrease in the number of social users has been witnessed, which may negatively impact the price.
Summary
PEPE coin has been accumulating big investments from smart money traders in the meme coins portfolio. Over $50 Million in PEPE and FLOKI were accumulated in the last seven days. However, PEPE price and volume have been volatile in recent months, with a significant decline of approximately 70% in volume in the first week of May.
Additionally, social volume and social dominance of PEPE crypto have been on the decline mode, indicating decreasing popularity and awareness among users on social media platforms.
Disclaimer
In this article, the views, and opinions stated by the author, or any people named are for informational purposes only, and they don’t establish the investment, financial, or any other advice. Trading or investing in cryptocurrency assets comes with a risk of financial loss.
With a background in journalism, Ritika Sharma has worked with many reputed media firms focusing on general news such as politics and crime. She joined The Coin Republic as a reporter for crypto, and found a great passion for cryptocurrency, Web3, NFTs and other digital assets. She spends a lot of time researching and delving deeper into these concepts around the clock, and is a strong advocate for women in STEM.
