Thanks to a stunning price surge 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 making profits thanks to the 91% rise in the asset's price over the past month. The meme coin reached an all-time high (ATH) of $0.00001718 on May 27 with the market wandering into bullish territory.
IntoTheBlock's data comes as PEPE recorded a 12% decline over the past 24 hours. The meme coin is trading at $0.00001333 at the time of writing. Pepe's market cap currently stands at $5.6 billion, making it the 21st largest cryptocurrency.
FLOKI remains the second most profitable memecoin with nearly 89% of holders enjoying their returns, according to IntoTheBlock's chart.
PEPE's price is down 21.5% of ATHs, which is much lower compared to Dogecoin (DOGE) and Shiba Inu (SHIB), with down 78.5% and 70.5% of ATHs respectively.
According to data provided by Santiment, PEPE inward and outward exchange flows have been continuously declining over the past three days. Approximately 4.31 trillion PEPE tokens entered exchanges while 4 trillion left the platforms – indicating a net exchange inflow of approximately 310 billion Pepe tokens.
This behavior may show that some stockholders are wallowing in FUD (Fear, Uncertainty, and Doubt) due to market-wide downward momentum.
Moreover, the PEPE relative strength index (RSI) fell from 77 to 67 in the past three days, according to Santiment data. The movement shows that the memecoin is still in the overbought zone as it moves towards the consolidation zone.
An RSI below 50 means that Pepe could face a steady price rise.
