PEPE Surpasses Major NFT Collections in Market Value

PEPE Surpasses Major NFT Collections in Market Value

Key Points:

• PEPE, a meme coin, has outperformed significant NFT collections in terms of market value.
• As of today, PEPE's market cap exceeds $6.2 billion, surpassing the combined value of top NFT collections.
• Despite market fluctuations, PEPE experienced a remarkable 25,955% increase since its launch in May 2023.

Performance and Dominance

• In the past 24 hours, PEPE's trading volume reached $2.47 billion, a 216% increase from early May.
• PEPE's dominance in the meme coin sector is evident, with its trading volume far exceeding blue-chip NFT projects.
• Data reveals a significant decline in NFT traders over the past two years.
• OpenSea, a popular NFT marketplace, has experienced a sharp decrease in weekly active users.

Market Volatility

• Cash inflows and outflows for PEPE have decreased in recent days, potentially indicating a downward trend.
• The RSI value has dropped from 77 to 67, suggesting an end to overbuying conditions.
• Despite fluctuations, over 96% of PEPE investors remain profitable.