PEPE Crashes 15%, Exits Out Of Top 20 Crypto List

Pepe Correction: Market Cap Overtaken by Litecoin

Pepe (PEPE) has experienced a 15% decline in recent days, causing Litecoin (LTC) to surpass the memecoin in market capitalization.

Pepe's Bullish Momentum Hinders

Pepe's impressive May rally has been halted by a significant drawdown. The asset reached a peak of $0.0000170 but has since dropped to $0.0000143, representing a decline of over 15%.

Despite this setback, early May investors continue to hold substantial profits of over 134%.

Market Cap Shuffle

The downturn has resulted in a shift in Pepe's position among top cryptocurrencies by market cap. Previously competing with Polygon (MATIC), Pepe has now fallen to 21st place. However, the gap to Litecoin in 20th is narrow, leaving room for recovery.

Pepe Remains Most Profitable Memecoin

Despite the recent decline, data from IntoTheBlock indicates that Pepe still has the highest percentage of profitable holders among major memecoins. With a holder profitability ratio of over 90%, Pepe outperforms Dogecoin (DOGE) and Shiba Inu (SHIB).

However, high profitability levels often trigger sell-offs as investors seek to secure gains. This may have contributed to Pepe's recent correction.