In what is quite an impressive turn of events, Pepe has emerged as the most profitable meme coin in the market. Specifically, IntoTheBlock data shows that 96% of the frog-themed meme coin holders are in profit. Moreover, the feat sees the token surpass Shiba Inu (SHIB) and Dogecoin (DOGE) in the critical facet.
Pepe has enjoyed a continued upward trajectory since it debuted in 2023, but that has magnified in recent weeks. Over the last 30 days, the meme coin has surged more than 113% in value, according to CoinMarketCap. Now, that ascension is rewarding investors far more than any competitors In the sector.
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96% of All Pepe Holders Are Now in Profit
There is no denying that meme coins have dominated industry-wide discourse throughout 2024. The market saw a surge of interest in March, with a plethora of newcomers establishing themselves. However, one asset has continued to display its growing supremacy within the market.
Pepe has now emerged as the most profitable meme coin offering, beating out leading assets like Shiba Inu and Dogecoin. Specifically, data shows that holders are facing a remarkable 90% return, with the significant majority in profit. Ultimately, these facets have clearly displayed the token as one of the most notable winners throughout this year.
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There are a total of 227,990 holders of the PEPE token that are currently in the money, according to the data. Moreover, another 5% of holders are currently breaking even on their initial investment. The recent surge in profitability is an important point to note amid the ongoing competition with Shiba Inu, whom Pepe has recently surged ahead of.
Now, all eyes are on how Pepe will perform heading into June. There is an expectation that its 2024 win streak will continue, especially as the Ethereum-based offering could gain from the impending Spot ETH ETF. That development could only bring more fuel to the asset’s journey to take on the top two meme coins.
