Can PEPE hold steady even with declining demand among whales?

• PEPE’s high-volume transfers fell to their lowest level in nearly thirty days, signaling a loss of interest among whales.
• Profit-taking in PEPE is on the rise, with nearly $30 million in profits taken in the past six days.
• PEPE erases nearly 1% on Monday, sliding to $0.00000731, extending weekend losses.

PEPE (PEPE) posted losses for a third straight session on Monday as on-chain metrics show a sharp drop in high-volume trades from whales and a surge in profit over the past six days. Both indicators suggest that more downside is likely for the meme coin price, with PEPE currently trading at $0.00000731.

Chain values ​​signal a decrease in PEPE

Data from crypto tracker Santiment shows two emerging trends in the frog-themed meme token:

• First, the number of high-volume PEPE transfers has been affected over the past six days.
• Second, PEPE traders made relatively large profits of nearly $30 million over the same time frame.

The number of whale transactions and the profit/loss made by the network for PEPE

The two trends indicate a loss of interest from high-wallet investors as PEPE holders fix their tokens for net profit on four of the six days between September 10 and 16. The Net Realized Profit/Loss (NPL) metric measures net profit. / loss of all tokens traded in a day, positive peaks show profit taking and negative peaks are realized losses.

If the profit-taking activities continue, it could negatively influence the price of PEPE, as selling pressure is usually associated with a decline in prices.

Meanwhile, whale deals — or those valued at $100,000 or more — fell from 129 on September 10 to 36 on September 16, a 70 percent drop.

The last time PEPE saw such a massive increase in profit was on July 9, after which the meme coin wiped almost 9% of its value in four days.