In New York City, selling pressure on the cryptocurrency token PORK has intensified, with most indicators pointing towards a further decline in its price. Pepe’s forked token, PepeFork (PORK), gained significant attention in the crypto community due to its rising social metrics. However, despite its popularity, the price of PORK has experienced a downward trend.

AMBCrypto conducted an analysis of the current status of both PEPE and PORK to compare their performance. LunarCrush’s recent tweet highlighted the increased social metrics of PORK, possibly fueled by a 12% weekly rally in the meme coin. Despite positive sentiment, the price of PORK took a hit, with a decrease of over 10% in the last 24 hours according to CoinMarketCap.

At the time of reporting, PORK was trading at $0.0000002431 with a market capitalization exceeding $102 million. Santiment’s data analysis indicated a drop in PORK’s MVRV ratio on May 5th, suggesting a decrease in the number of profitable investors. This led to higher selling pressure on the meme coin, as indicated by an increase in active deposits and Supply on Exchanges.

On the other hand, PEPE showed resilience in the face of market fluctuations. Despite a minor 1.5% price drop in the last 24 hours, PEPE’s market sentiment remained bullish with a trading price of $0.000008569 and a market capitalization of $3.6 billion. Unlike PORK, PEPE experienced high buying pressure, with a decrease in Supply on Exchanges and an increase in Supply outside of Exchanges over the past week.

AMBCrypto previously reported on the potential for PEPE to reach $0.00001 in the near future. While PORK faced a bearish trend, PEPE continued to attract positive market sentiment and buying pressure, indicating a more stable position in the market.

As for PORK’s future outlook, indicators like the Relative Strength Index (RSI) and Chaikin Money Flow (CMF) suggest a continued price decline. However, the Moving Average Convergence Divergence (MACD) remains in favor of buyers, offering a glimmer of hope amidst the challenging market conditions. With PORK facing increasing selling pressure, investors will need to closely monitor market trends to make informed decisions.