Here’s what the different on-chain indicators from Santiment have to say about whether Pepe Coin could see another pump soon or not.
The Memecoin’s On-Chain Metrics Have Been Down Since The Top
PEPE has been one of the hottest topics around the cryptocurrency market recently, thanks to the explosive growth that the meme coin has enjoyed. Between the end of last month and the 5th of May, the coin saw its price rise by an extraordinary 1,200%.
The uptrend, however, ended there and the cryptocurrency has been sharply plunging since then. According to Santiment, the on-chain analytics firm’s “social dominance” indicator signaled this top in advance.
Social dominance tells us what percentage of the discussions happening on social media related to the top 100 cryptocurrencies by market cap are talking about a given coin.
As the below chart shows, Pepe’s social dominance rose to very high values just before the top took form earlier in the month.
Whenever social dominance hits hi
We współpracy z: https://www.newsbtc.com/analysis/pepe/pepe-coin-ready-another-pump-on-chain-data/
