Discover How PEPE Stands Out Among Profitable Cryptocurrencies
Recently, the market intelligence platform IntoTheBlock unveiled a chart showcasing the profitability ratios of various top cryptocurrencies by analyzing the percentage of holders currently in profit using on-chain data. This data delves into the transaction history of each address on a particular network to determine the average cost basis and identify holders with a cost basis below the current spot price, indicating profitability.
Let’s explore how PEPE compares to other cryptocurrencies in terms of profitability:
– X releases a chart comparing profitability ratios of top cryptocurrencies
– IntoTheBlock determines percentages using on-chain data
– Addresses with cost basis below spot price are considered profitable
– Tron (TRX) and two memecoins dominate the list
– Tron (TRX) has about 82% of investors in profit
– Pepe (PEPE) and Floki (FLOKI) follow with around 80% and 77% of holders above water, respectively
– Dogecoin (DOGE) ranks lower with 75% holders in profit
– Profitability skewed towards large-caps and memecoins, waiting for other altcoins to catch up
The Impact of Profitable Holders on Cryptocurrency
When investors hold gains, they are more likely to sell their coins, potentially leading to a mass selloff as more holders become profitable. This phenomenon suggests that corrections may become more likely as the percentage of addresses in the green rises. Notably, cryptocurrencies with lower profitability ratios like Dogecoin and Pepe may have more growth potential compared to assets like Bitcoin.
– Profitable holders more inclined to sell, increasing likelihood of mass selloff
– Coins with lower profitability may have room for growth compared to more profitable assets
Exploring PEPE Price Movement
Currently, Pepe trades at approximately $0.00001126, experiencing a decline of over 8% in the past week.
Hot Take: Assessing the Profitability of PEPE and Other Top Cryptocurrencies
As highlighted by IntoTheBlock, PEPE stands out as one of the cryptocurrencies with a high percentage of profitable holders, alongside Tron, Floki, and Dogecoin. This data sheds light on market trends and investor sentiment, offering valuable insights into the cryptocurrency landscape for informed decision-making.
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