21 Jun

Recent on-chain data from IntoTheBlock reveals that a surprising 80% of Pepe (PEPE) holders are currently in profit. This figure places the memecoin ahead of Dogecoin (DOGE) in terms of holder profitability, showcasing the growing interest and potential of this new meme-based cryptocurrency.

While PEPE's performance is impressive, it's important to note that Bitcoin (BTC) still holds the crown for the highest profitability ratio among major cryptocurrencies, with over 89% of its holders in the green. Ethereum (ETH), the second-largest cryptocurrency by market cap, follows closely behind with over 83% of its holders enjoying profits.

The data also highlights an interesting trend: large-cap cryptocurrencies and memecoins are currently dominating in terms of profitability. This could be attributed to the increased attention and investment these categories have received in recent times.

Key Takeaways:

  • PEPE's Popularity: The fact that 80% of PEPE holders are in profit indicates a strong and growing interest in this memecoin. This could be due to its unique branding, community-driven nature, or simply the speculative nature of the cryptocurrency market.
  • Bitcoin's Dominance: While PEPE is showing impressive performance, Bitcoin remains the king of profitability with a significantly higher percentage of holders in profit. This reinforces Bitcoin's status as a reliable store of value and a leading investment asset in the crypto space.
  • Memecoin Mania: The high profitability of both PEPE and DOGE suggests that the memecoin frenzy is far from over. These tokens have captured the attention of both seasoned investors and newcomers, driving up demand and prices.
  • Large-Cap Strength: The data indicates that large-cap cryptocurrencies like Bitcoin and Ethereum continue to be a safe bet for investors, consistently providing solid returns over time.

Overall, the data on holder profitability provides valuable insights into the current state of the cryptocurrency market. It highlights the growing prominence of memecoins like PEPE, while also reaffirming the enduring strength of established players like Bitcoin and Ethereum. 

June 2024, Cryptoniteuae

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