Taking center stage in the market’s attention is the memecoin PEPPER, a cryptocurrency inspired by frogs, which has witnessed remarkable growth in a market primarily dominated by canine-themed currencies. Over the past few days, PEPE has experienced a surge in growth that has positioned it among the top 20 cryptocurrencies in the market.
According to a survey conducted by the analysis platform IntoTheBlock on May 30, memecoin has recorded a staggering 90% profit for its holders, making it the most profitable meme currency of its kind. “Thanks to an impressive 90% return this month, over 96% of $PEPE holders are now in profit. This positions $PEPE as the most profitable among major memecoins,” stated the platform.
However, today the meme coin Pepe (PEPE), which recently reached new records, suffered a significant decline, dropping to $0.00001313 and losing almost 15% of its value in just one day. Other cryptocurrencies such as SHIB, DOT, DOGE, and WIF also followed suit, experiencing substantial losses.
At the time of publication, the price of PEPE was quoted at US$0.00001455, marking a 3.3% decrease in the last 24 hours.
In terms of memecoin growth, Shiba Inu (SHIB) and Dogwifhat (WIF) have stood out this week due to their respective price surges. On May 29, analytics platform Santiment highlighted the increasing popularity of meme tokens in recent days. “Shiba Inu (+12% in 3 days) and DogWifHat (+30% in 3 days) are the top trending crypto tokens, with rising volume support. Meme coins continue to be relevant to traders, with varying market caps. Expect to witness significant FOMO tops and bottoms with these kinds of coins,” stated Santiment.
It is important to note that within the WIF ecosystem, the trading volume of the meme cryptocurrency has recently experienced a whopping 39.03% growth. This surge in growth has led to Dogwifhat’s trading volume reaching an impressive US$2.68 billion, as reported by the Coinglass platform.
Disclaimer: The views and opinions expressed in this article, by the author or anyone mentioned, are for informational purposes only and should not be considered as financial or investment advice. Investing or trading in cryptocurrencies carries a risk of financial loss.
Editor’s Choice: Pepe (PEPE) surpasses Polygon (MATIC) in market value as it continues to rise. Shiba Inu (SHIB) surpasses Avalanche (AVAX) amid market recovery.