According to IntoTheBlock’s post, PEPE holders are witnessing substantial gains with an impressive 90% return this month. As of now, over 96% of PEPE holders are in profit, positioning PEPE as the most profitable among major memecoins.
The chart covering July 2023 to May 2024 reveals insights into the profitability of various cryptos. DOGE, represented by the blue line, showed noticeable fluctuations in holder profitability from July to December 2023, generally remaining below 50%. January 2024 marked a sharp rise to around 70%, and subsequent months saw another significant spike in March, peaking at nearly 90%, followed by a decline and a recovery in May.
SHIB, depicted by the pink line, maintained a stable profitability around 30-40% between July and October 2023. A rise was observed from November 2023 to February 2024, peaking at approximately 60% in January. March 2024 saw a significant peak, reaching around 70%, before declining. PEPE, illustrated by the green line, experienced minor fluctuations in profitability, staying below 50% from July to December 2023. January 2024 saw a sharp increase, peaking around 80%, followed by another rise from March to May 2024, before a drop and subsequent recovery.
FLOKI, represented by the light blue line, displayed substantial volatility with multiple peaks and troughs throughout the period. Profitability surged to around 70% between November 2023 and January 2024. March 2024 saw a peak near 80%, followed by a decline. Bitcoin, shown by the purple line, exhibited less volatility compared to other cryptocurrencies. Notable profitability increases were observed in January and March 2024, reaching around 60%.
The significant peaks and troughs in holder profitability indicate high volatility, particularly for memecoins like DOGE and SHIB, reflecting speculative trading behaviors. These spikes often correlate with broader market events or news that impact investor sentiment and trading volumes. For potential investors, the sharp increases in profitability suggest moments of significant investment interest, providing possible entry points during dips.
However, the trend suggests that profitability will likely continue to experience high volatility, influenced by market sentiment, news, and regulatory developments. Cryptocurrencies like Bitcoin might offer more stable long-term investment options due to their comparatively lower volatility in profitability.
As of today, PEPE is priced at $0.00001428 with a 24-hour trading volume of $1,428,175,330.66. This represents a 5% price decline in the last 24 hours and a 1.5% decline over the past seven days. With a circulating supply of 420 trillion PEPE, the memecoin holds a market cap of $5,606,819,254.
