Foreign media reports that although the meme coin sector has cooled down somewhat after its recent rebound, the number of addresses holding PEPE and SHIB is still slowly increasing. This indicates that the holding base of these tokens is still expanding, and market sentiment has not weakened significantly despite the short-term pullback.
The number of PEPE and SHIB holders continues to increase.
On-chain data shows that the number of PEPE holding addresses increased by over 1,500 in two weeks, bringing the total to 553,446. The number of SHIB holding addresses also increased during the same period, from 1.583 million to 1.585 million, continuing a slight upward trend.
Looking at the holdings structure, both tokens are highly concentrated in the hands of large holders. PEPE's whale addresses account for only 0.11% of all holding addresses, but control nearly 90% of the market capitalization; SHIB's whale addresses account for an even smaller percentage, only 0.05%, but hold approximately 95% of the supply.
The article also mentions that in the SHIB holdings distribution, wallets with holdings between $1,000 and $10,000 control approximately 1.81% of the supply, slightly higher than wallets with holdings between $10,000 and $100,000.
Prices returned to near the breakout area
In terms of price action, PEPE is returning to near the resistance level it previously broke through, and the market is watching whether this level can turn into support. The article states that this area is roughly around $0.00000371; if it breaks below this level, the price could potentially fall to around $0.00000300.
SHIB is showing a similar trend, with the price approaching a sloping resistance level. Meanwhile, selling pressure has eased. The article cites CVD data stating that selling pressure on SHIB has decreased from 437 billion to 37 billion.
The article argues that if both tokens hold above the breakout zone after a pullback, the short-term rebound may continue; if the pullback fails, the previous breakout signal may become invalid.
Trading activity in the meme coin sector has rebounded somewhat.
Looking at broader sector performance, Meme Coin's trading volume increased by approximately 26% in the past 30 days, while cultural tokens such as PEPE and FLOKI saw a combined trading volume exceeding $3 billion. During the same period, the number of monthly active addresses increased by approximately 7%.
However, the article also points out that the current market capitalization of most meme coins is still more than 60% lower than their fully diluted valuation. This means that although the sector has seen some recovery, it has not yet returned to its previous highs.
Overall, the number of PEPE and SHIB token holding addresses continues to grow slowly, and trading volume in the sector has also rebounded. Foreign media believe that these data provide some support for sentiment surrounding meme coins, but whether the price can continue to rebound depends on the success of this pullback.
