With buzz being a key price driver during altcoin season, apeCoin may present a better opportunity.
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Shiba Inu is a meme coin that took markets by storm in 2021 after surging millions of percent.
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ApeCoin is a newcomer benefiting from hype tied to the Bored Ape NFT community.
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As altcoin season begins, apeCoin currently represents a better buy for investors looking to profit from the buzz.
Shiba Inu SHIB/USD is a meme coin that rose to prominence in 2021, recording gains of more than 48,000,000%. Much of Shiba Inu’s rally was driven by the meme-coin frenzy that accelerated in 2020, fueled in part by high-profile supporters. Shiba Inu remains one of the meme coins viewed as having significant long-term potential.
That optimism persists because many investors continue to place strong bets on meme coins, hoping for a repeat of the massive 2021 gains at some point in the future. In addition, the Shiba Inu team is working to improve SHIB’s fundamentals. For example, the team is developing a metaverse platform. Given the large upside that metaverse projects can offer, this development could support SHIB’s performance down the road.
By contrast, apeCoin APE/USD is a market newcomer that has attracted substantial hype. Since launch, apeCoin has climbed more than 2,000% and continues to trade with much higher volume than many other cryptocurrencies. Much of this attention stems from its connection to the Bored Ape community, currently one of the most prominent NFT communities.
So, which is better to buy?
Both Shiba Inu and apeCoin can be attractive investments. However, with altcoin season appearing to begin, following the momentum can help maximize short-term returns. From that perspective, apeCoin is presently a stronger buy than Shiba Inu. The odds favor apeCoin right now because it is generating significant buzz.
Summary
Shiba Inu and apeCoin are both solid long-term investment prospects. For investors focused on short-term gains, apeCoin currently offers greater potential due to the intense hype surrounding it. In many ways, apeCoin is occupying the position Shiba Inu held in January 2021.