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Pepe Feels Alone in the Green as Crypto Market Experiences a Pullback
Alex Dovbnja
Pepe (PEPE) will end the month in style after hitting a new record just a few days ago.
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Pepe (PEPE) is currently the Cryptocurrency only green among the top 20 largest coins, according to data provided by CoinMarketCap. It’s only up 0.91%, but that allows it to stand out in a sea of red.
The red-hot meme coin has overtaken Litecoin (LTC), with its market capitalization surpassing $6 billion.
Meanwhile, Shiba Inu (SHIB) is one of the biggest laggards in the top 20. After slipping 4% in the last 24 hours, it has fallen out of the top 10. It is now below Toncoin (TON) and Cardano (ADA).
For comparison, Dogecoin (DOGE) is also down 3%, despite its strength purchasing activity from whales.
Near Protocol (NEAR) is the worst performing coin among the top 20, down more than 4%.
Pepe’s big month
Second data powered by IntoTheBlock, a staggering 96% of all Pepe holders are in profit. It has managed to become the most profitable bet among the major meme coins.
On May 27, the meme cryptocurrency reached a new all-time high of $0.00001717. It has slipped more than 12% from that headline-grabbing peak.
Pepe has now come a long way since it first entered the top 100 in May 2023. Despite growing competition in the meme coin industry, it has become the third largest meme coin with a valuation of over $6.3 billion .
Meanwhile, Polymarket users are betting if Pepe can beat Solana’s dogwifhat to reach $10 billion first.
About the author
Alex Dovbnja
Alex Dovbnya (aka AlexMorris) is a cryptocurrency expert, trader and journalist with extensive experience covering everything related to the burgeoning industry, from price analysis to Blockchain disruption. Alex has authored more than 1,000 stories for U.Today, CryptoComes, and other fintech media. He is particularly interested in regulatory trends around the world that are shaping the future of digital assets; he can be contacted at alex.dovbnya@u.today.