The popular digital asset, Pepe (PEPE), has struggled to maintain its gains above the 100-day simple moving average (SMA) recently. The persistent pressure stems from continued selling activity among holders, indicating a phase of distribution. Despite being recognized as one of the largest stablecoins by market value, PEPE’s inability to sustain upward momentum raises concerns about its short-term stability. Investors are keeping a close eye on market developments as they await signs of a potential recovery or further declines.