Recent Bull Run Comes to an End
PEPE has had a rough few days, with a 15% drop that has pushed it out of the top 20 cryptocurrencies by market cap.
PEPE’s Price Plummets
After a strong May, PEPE has taken a hit in the last week. From a high of $0.0000170 on Monday, it has now fallen to around $0.0000143.
Market Cap Shuffle
The drop has caused PEPE to lose its spot in the top 20, with Litecoin (LTC) now taking its place. However, the gap between PEPE and LTC is narrow, so a recovery could see it regain its position.
Profitability Remains High
Despite the recent dip, PEPE still has the highest percentage of holders with unrealized profits among major memecoins. This means that investors are still sitting on a lot of potential gains.
Sell-Off Risk
However, the high profitability ratio also suggests that a sell-off could be on the horizon as investors cash in their profits.
