The frog-themed cryptocurrency PEPE has been on an extraordinary upward trajectory, repeatedly setting new all-time high prices over the past month. This remarkable rally has resulted in the majority of PEPE investors being in a profitable position.

PEPE Holders Reaping Massive Gains

According to blockchain analytics firm IntoTheBlock, a staggering 96% of individuals holding the PEPE cryptocurrency are currently making a profit on their investment. Thanks to an impressive 90% price increase in May alone, PEPE has emerged as the most profitable major meme coin.

PEPE's Meteoric Rise

PEPE has witnessed explosive growth in 2024. Starting the year with a market capitalization of around $500 million, it had swelled to over $6.1 billion at the time of writing. Just two weeks prior, PEPE reached an all-time high of $0.00001096, with every single holder in profit at that point.

On May 28th, PEPE set a new record high of $0.00001717, pushing its market cap to an immense $7 billion. This catapulted PEPE to become the 21st largest cryptocurrency by market cap, even surpassing well-established altcoins like Polygon and Litecoin.

While PEPE has pulled back slightly from that peak, declining over 3% in the last 24 hours to trade at $0.00001455 at the time of writing, its overall trajectory remains steeply upward.

Rising Star Among Meme Cryptocurrencies

PEPE's tremendous success has rapidly elevated its position within the meme cryptocurrency sector. It is now the third-largest meme coin behind only the industry giants Dogecoin (DOGE) and Shiba Inu (SHIB).

Notably, PEPE's 24-hour trading volume reached a massive $1.8 billion just a few days ago, even exceeding that of DOGE and SHIB, which both have market caps just over $1 billion.

Our Crypto Expert's Opinion:

With cryptocurrency analysts predicting that PEPE's rally is far from over, the meme coin could potentially continue witnessing significant growth. This means even more PEPE investors may find themselves in profit in the near future.

While crypto markets are highly volatile, PEPE's performance has been nothing short of extraordinary, making it one of the best-performing assets in May. As a result, over 96% of its investors have booked substantial gains on their PEPE holdings so far.