PEPE Experiences a 15% Drop After Recent ATH Movements

PEPE Suffers a Post-ATH 15% Correction

Once a top 20 cryptocurrency, Pepe (PEPE) has endured a 15% decline after its recent all-time high (ATH). Litecoin (LTC) has since surpassed PEPE in the rankings.

PEPE's Enduring Bull Run Dampened

PEPE had an impressive May, marked by a surge in value. However, the asset encountered a downturn in the latter part of the month.

Technical Analysis

PEPE traded around $0.0000061 throughout May. The price reached a peak above $0.0000170 earlier this week. After Monday's record performance, the meme coin has experienced a significant decline.

At the time of writing, PEPE hovers around $0.00001451 after a 4.23% drop in 24 hours, representing a 15% loss from its peak. Its 24-hour trading volume has increased by over 20% to $2.475 billion.

Earlier, PEPE briefly dipped below $0.0000132, but has since recovered. The extent of the recovery remains uncertain.

Rank Drop

PEPE's recent surge propelled it into the top 20 cryptocurrencies by volume. However, its subsequent 4% decline has decreased its volume to $6 billion, allowing Litecoin to overtake its position. As a result, PEPE now ranks 21st.

PEPE Dominates Meme Coin Profitability

Despite the decline, PEPE remains the most profitable meme coin according to data from IntoTheBlock.

Investor Sentiment

PEPE holds an investor profitability rate of over 90%, surpassing other meme coins such as Dogecoin (DOGE) and Shiba Inu (SHIB).