Dogecoin, PEPE, FLOKI defy altcoin market trends – How?
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- DOGE, PEPE, and FLOKI saw price declines of over 18%, 26%, and 21%, respectively, over the last week.
- In July 2024, the profitability for DOGE, PEPE, and FLOKI holders was 75%, 78.5%, and 78.4%, respectively.
In the last two to three days, the overall cryptocurrency landscape experienced significant selling pressure.
This was a result of geopolitical tensions, updates on the Bank of Japan’s interest rate hike, and concerns about a potential recession in the United States.
Memecoins with the highest profitability
In response to the selling pressure in the crypto market, the on-chain analytic firm IntoTheBlock shared a post on X (formerly Twitter) that gained massive attention from the crypto community.
Despite the market downturn, 70.86% of Floki Inu [FLOKI] holders and 67.79% of Dogecoin [DOGE] holders were profitable at press time. 54% Pepe [PEPE] holders and 45.73% Shiba Inu [SHIB] holders are also in profit.
Despite this, memecoins have seen a notable price decline over the last week. According to CoinMarketCap, FLOKI, DOGE, PEPE, and SHIB have experienced a price decline of over 21%, 18%, 26%, and 17%, respectively.
FLOKI, DOGE, PEPE price analysis
As of the latest data, FLOKI is trading near $0.000125, having experienced a price drop of 9% in the last 24 hours. Whereas, DOGE was trading near $0.10 and has experienced a price decline of 1% during the same period.
PEPE was trading near $0.0000078 at press time, and experienced a price decline of over 5% in the same timeframe.
However, in July 2024, when IntoTheBlock shared this profitability data, PEPE was at the top of the list, with 78.5% of holders in profit.
Whereas, FLOKI with 78.41% of holders, and DOGE with 75.00% of holders were on the list.
Read PEPE’s Price Prediction 2024 – 2025
Current market overview
Apart from this profitability, as of press time, the market is quite stable as it has seen a price decline of only 0.45% in the last 24 hours.
Meanwhile, top assets such as Bitcoin [BTC], Ethereum [ETH], and Solana [SOL] have experienced downside momentum of 0.2%, 3%, and 0.12%, respectively.
