96% of PEPE holders in profit after month long rally

Thanks to a remarkable price upswing over the past month, Pepe (PEPE) has emerged as the most profitable token among prominent meme coins.

According to data from IntoTheBlock, over 96% of PEPE holders are currently profiting, driven by the asset's 91% price rally in the past month. The meme coin reached an all-time high (ATH) of $0.00001718 on May 27, coinciding with a bullish market sentiment.

IntoTheBlock's data coincides with a 12% decline in PEPE's value over the past 24 hours. At the time of writing, the meme coin trades at $0.00001333. Pepe's market capitalization currently stands at $5.6 billion, making it the 21st-largest digital currency.

FLOKI remains the second most profitable meme coin, with approximately 89% of its holders in profit, as per IntoTheBlock's analysis.

Pepe has declined by 21.5% from its ATH, a significantly lower percentage compared to Dogecoin (DOGE) and Shiba Inu (SHIB), which have experienced 78.5% and 70.5% plunges from their respective ATHs.

Santiment data suggests that PEPE's exchange inflow and outflow have been steadily decreasing over the past three days. Approximately 4.31 trillion PEPE tokens have entered exchanges, while 4 trillion coins have exited, resulting in a net exchange inflow of roughly 310 billion Pepe tokens.

This behavior may indicate that some holders are experiencing uncertainty due to the bearish market sentiment.

Additionally, Pepe's Relative Strength Index (RSI) has declined from 77 to 67 in the past three days, according to Santiment data. This movement suggests that the meme coin remains overbought while transitioning towards its consolidation zone.

An RSI below 50 would indicate that Pepe could potentially experience a sustained price increase.