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.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.As of the latest data, FLOKI is trading near $0.000125, having experienced a price drop of 9% in the last 24 hours.
PEPE was trading near $0.0000078 at press time, and experienced a price decline of over 5% in the same timeframe.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.Chanakya G is an analyst with 4 years of experience looking at the crypto-markets. His primary field of interest is the Altcoin market and its correlation with Bitcoin, and how that dynamic affects the larger sector.