96% of PEPE holders in profit after month long rally
Thanks to the impressive price rally over the past month, Pepe (PEPE) is now the most profitable token among the leading meme coins.
According to data provided by IntoTheBlock, more than 96% of PEPE holders are currently in profit thanks to the asset’s 91% price rally over the past month. The meme coin hit an all-time high (ATH) of $0.00001718 on May 27 as the market wandered in the bullish zone.
IntoTheBlock’s data comes while PEPE recorded a 12% decline in the past 24 hours. The meme coin is trading at $0.00001333 at the time of writing. Pepe’s market cap is currently sitting at $5.6 billion, making it the 21st-largest digital currency.
FLOKI is still the second most profitable meme coin with roughly 89% of its holders enjoying their returns, per IntoTheBlock’s chart.
PEPE is down by 21.5% from its ATH, which is a much lower percentage compared to Dogecoin (DOGE) and Shiba Inu (SHIB), with 78.5% and 70.5% plunges from their ATHs, respectively.
According to data provided by Santiment, the PEPE exchange inflow and outflow have been constantly declining over the past three days. Roughly 4.31 trillion PEPE tokens have entered the exchanges while 4 trillion coins have left the platforms — showing an exchange net inflow of around 310 billion Pepe tokens.
This behavior might show that some holders are wandering in FUD (fear, uncertainty and doubt) due to the market-wide bearish momentum.
Moreover, the PEPE Relative Strength Index (RSI) declined from 77 to 67 in the past three days, per Santiment data. The movement shows that the meme coin is still overbought while moving toward its consolidation zone.
An RSI of lower than 50 would mean that Pepe could potentially face a steady price hike.
