PEPE emerges as the most profitable among the main memecoins while SHIB and WIF grow

At the center of the market’s attention is the memecoin PEPE, a cryptocurrency inspired by a frog that has seen exponential growth amid a market predominantly dominated by canine themes. In recent days, PEPE has experienced an upward rally that has placed it among the 20 largest cryptocurrencies on the market.

Memecoin recorded profits of 90% for its holders and, as a result, PEPE appears as the most profitable meme among this type of cryptocurrency, according to a survey by the analysis platform, IntoTheBlock, on May 30.

“Thanks to an impressive 90% return this month, over 96% of $PEPE holders are now profiting. This positions $PEPE as the most profitable among the top memecoins,” she wrote!

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! pic.twitter.com/4BJkjDtha2

— IntoTheBlock (@intotheblock) May 30, 2024

However, today the meme coin Pepe (PEPE), which recently reached new highs, suffered a significant drop near $0.00001313, losing almost 15% of its value in just one day. Other cryptocurrencies such as SHIB, DOT, DOGE and WIF followed suit, recording substantial losses.

At the time of publication, the PEPE price was quoted at US$0.00001455, down 3.3% in the last 24 hours.

SHIB and WIF Growth

The memecoin market showed notable growth this week, with Shiba Inu (SHIB) and Dogwifhat (WIF) standing out due to their respective price rises. On May 29, analytics platform Santiment noted the growth of meme tokens in recent days.

“ShibaInu (+12% in 3 days) and DogWifHat (+30% in 3 days) are the most popular crypto tokens with increasing volume support. Meme coins remain very relevant for traders, while maximum limits vary. You can expect to see big FOMO tops and big FUD bottoms with these types of coins.

😺🐶 #ShibaInu (+12% in 3 days) & #DogWifHat (+30% in 3 days) are the top trending crypto tokens, with rising volume support. Meme coins are staying very relevant to traders while top caps range. You can expect to see big FOMO tops and big FUD bottoms with these kinds of coins. pic.twitter.com/FejSlNLdhf

— Santiment (@santimentfeed) May 29, 2024

It is worth remembering that in a recent important development within the WIF ecosystem, the meme cryptocurrency’s trading volume recorded a growth of 39.03%. Given the recent growth, Dogwifhat’s trading volume reached an impressive US$2.68 billion, as revealed by data from the Coinglass platform.

Disclaimer:

The views and opinions expressed by the author, or anyone mentioned in this article, are for informational purposes only and do not constitute financial, investment or other advice. Investing or trading cryptocurrencies carries a risk of financial loss.