Big investors are buying the meme cryptocurrency PEPE, despite the drop in price

The price of Pepe (PEPE) is down over 14% in the last week to $0.00001114 amid reduced activity in the meme token market.

However, large PEPE holders, known as whales, have been actively accumulating the token in recent weeks, increasing their holdings by 3%.

This spike in accumulation coincides with a remarkable increase in activity on the PEPE network, with daily active addresses increasing by 105% and new addresses increasing by over 300%.

However, despite increased whale activity and online demand, bearish sentiment for PEPE remains as indicated by the Directional Movement Index (DMI), where the negative trend outweighs the positive.

DMI suggests a continuation of the current bearish trend, which could potentially lead PEPE price down to $0.000010 if the decline continues, while in an uptrend it could rise to $0.000012.