PEPE Mania: PEPE's market value tops all major NFT collections combined

The meme coin Pepe (PEPE) has seen its market value exceed that of all significant non-fungible token (NFT) collections combined.

As of the most recent data, PEPE’s market capitalization has surpassed $6.2 billion, which is 10% higher than the total market cap of all profile picture (PFP) NFT collections.

NFTs and Pepe. Source : Stats/X

This occurred amidst a considerable surge in PEPE’s trading volume, reaching $2.47 billion in the past 24 hours—a 216% increase from the start of May.

Pepe price and exchange inflow/outflow. Source : Santiment

However, the coin’s Relative Strength Index (RSI) has decreased from 77 to 67, indicating that although PEPE remains overbought, it is moving toward consolidation. An RSI below 50 could potentially signal a steady price increase.

Thanks to an impressive 90% return this month, over 96% of $PEPE holders are now in profit. This positions $PEPE as the most profitable among major memecoins! pic.twitter.com/4BJkjDtha2

Despite these fluctuations, more than 96% of PEPE holders are currently profiting, according to the data from IntotheBlock.

As the meme coin market approaches a $69 billion market cap, with PEPE leading the charge and current trends demonstrating strong market interest, it remains essential for investors to stay informed and consider diverse perspectives before making investment decisions.

Disclaimer: The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk.