Pepe (PEPE) experienced a 15% drop in the last few days after recent ATH movements, causing the meme coin to fall out of the top 20. It was overtaken by Litecoin (LTC). So, what is the current situation with PEPE?
PEPE Ends Its Last Bull Run with a 15% Drop
PEPE was having an excellent May as its price followed a steep upward trajectory, but the asset experienced a drop in the last few days of the month. The graph below shows how the meme coin’s performance looked over the past month.
PEPE traded at the 0.0000061 dollar level throughout May, and in the early days of this week, the price rose above the 0.0000170 dollar level, hosting a significant surge.
However, after the peak performance seen on Monday, the meme coin experienced a noticeable drop. As of the time of writing, PEPE is trading at 0.00001451 dollars after a 4.23% drop in the last 24 hours, which means a roughly 15% drop from the peak. PEPE’s 24-hour trading volume increased by over 20%, reaching 2.475 billion dollars.
Earlier in the day, it looked even worse for PEPE investors as the price fell below 0.0000132 dollars. The asset has since recovered from this low level, but it is unclear whether this recovery will continue.
Following the recent surge, PEPE had made its way into the top 20 cryptocurrencies by volume. However, after a 4% drop today, the volume fell to 6 billion dollars, and it lost its position to Litecoin. As a result, PEPE is now ranked 21st.
PEPE Still Leads Among Meme Coins
The decline following the price rally in PEPE raised the question of which meme coin is the most profitable. According to data provided by IntoTheBlock, PEPE still has the highest percentage of investors in profit among meme coins.
The graph below shows the trend in this metric for the leading meme coins in the market over the past year.
Currently, PEPE has an investor profitability rate of over 90%, and it still leads in this metric when considering meme coins like Dogecoin (DOGE) and Shiba Inu (SHIB).
