APE and SHIB Trending: Will They Reach The Moon? Do We Buy?

Over the past few weeks, both SHIB and APE have been trending as tokens based on the Ethereum blockchain. For SHIB, this surge only came over the past few weeks as previously FTX held the top ranks of ETH tokens. Meanwhile, APE has only been around for just over a month, yet it continues to trend.

Among the top 5,000 ETH whales, they are hodling mostly SHIB with a dollar equivalent of almost $1.5 billion. Closely, in second place, is FTX, of which ETH whales are hodling the dollar equivalent of around $1.2 billion. Meanwhile, in a far third place is BEST, of which ETH whales are hodling almost $400 million.

Additionally, at the time of writing SHIB is at the top of ETH holdings of all tokens at almost 15%, the top token by trading volume (aside from ETH and stablecoins), the top purchased token, and the top sold token.

In terms of the trading volume; top purchased tokens; and top sold tokens, APE is right behind SHIB.

Meanwhile, at the time of writing “BlueWhale 0073” who bought 420 billion SHIB tokens in the third week of April, just bought another 200 billion SHIB tokens.

The SHIB surge started around the second to the third week of April, especially when “BlueWhale0073” purchased the 420 billion SHIB tokens. This was followed by “Bombur”s purchases of 200 billion SHIB the following week. With “BlueWhale0073”’s purchase of 200 billion more tokens this week, both whales have purchased a combined amount of over 1.5 trillion SHIB tokens in a single week.

Additionally, SHIB’s hype also comes from its new projects like the Shiba Inu Land Metaverse.

Apecoin (APE), meanwhile, continues to trend because of all the activity surrounding the project. Such as last month when Snoop Dogg and Wiz Khalifa released a set of 8 music tracks as NFTs and when Yuga Labs raised $450 million from a seed round. Additionally, The ApeCoin-powered metaverse ‘Otherside’ is scheduled to reveal more information on April 30.

The fact that these two tokens continue to trend is great for both their communities. Additionally, these prices might just continue to surge over the next few months as more information comes up about their new projects.

It might be a good time to buy right before those projects come about and even more eyes fall on these two tokens.

At the time of writing, SHIB trades at the price of almost $0.000025 with a growth rate of 7% over the past 24-hours. It has a market capitalization of over $13 billion and a 24-hour trading volume of just over $1 billion.

Meanwhile, at the time of writing APE trades at the price of almost $18 with a growth rate of over 50% over the past 7 days. It has a market capitalization of over $5 billion and a 24-hour growth rate of $2.5 billion.

So, will you jump in?

Disclaimer: The views and opinions expressed in this article are solely the author’s and do not necessarily reflect the views of CoinQuora. No information in this article should be interpreted as investment advice. CoinQuora encourages all users to do their own research before investing in cryptocurrencies.