Pepe Feels Lonely in Green as Crypto Market Experiences Pullback

Pepe (PEPE) is currently the only cryptocurrency in the green among the top 20 biggest coins, according to data provided by CoinMarketCap. It is up by a mere 0.91%, but this allows it to stand out in a sea of red.

The red-hot meme coin has raced above Litecoin (LTC), with its market cap surpassing $6 billion.

Meanwhile, Shiba Inu (SHIB) is one of the biggest laggards in the top 20. After slipping by 4% over the past 24 hours, it has dropped out of the top 10. It is now below Toncoin (TON) and Cardano (ADA).

For comparison, Dogecoin (DOGE) is also down 3% despite strong buying activity from whales.

The Near Protocol (NEAR) is the worst-performing coin in the top 20, slipping by more than 4%.

Pepe’s big month

According to data provided by IntoTheBlock, a staggering 96% of all Pepe holders are in profit. It has managed to become the most profitable bet among major meme coins.

On May 27, the meme cryptocurrency reached a new all-time high of $0.00001717. It slipped more than 12% since that headline-grabbing peak.

Pepe has now come a long way since entering the top 100 for the first time in May 2023. Despite growing competition in the meme coin sector, it has become the third-biggest meme coin with a valuation of over $6.3 billion.

Meanwhile, Polymarket users are betting on whether Pepe will manage to beat Solana-based dogwifhat to reach $10 billion first.

Source