SHIB, XMR and APE coins are priced over 10% despite Bitcoin's losses. So how will these 3 altcoins perform in the short term?
While the biggest cryptocurrencies like Ethereum and Bitcoin fell, altcoins like Monero, ApeCoin, and Shiba Inu have added close to 10% in value over the past 24 hours, according to CoinMarketCap. This shows that investors prefer riskier assets these days.
Shiba Inu (SHIB)
Shiba Inu has become the strongest altcoin in the cryptocurrency market after gaining around 30% despite the general conditions in the cryptocurrency market. Shiba Inu price according to CoinGecko data at the time of writing the news; $0.0000254. SHIB's last 24-hour trading volume is $3,706,650,668. SHIB price is up 11.6% in the last 24 hours.
We know that one of the biggest whales on the Ethereum network suddenly bought $6 million worth of SHIB, making the Shiba Inu the largest USD-worth savings on WhaleStats. The Robinhood listing may have been born into someone. The long-awaited listing news was officially announced today.
Monero (XMR) and ApeCoin (APE)
Cryptocurrencies like Monero were not expected to rally in the current market conditions. Increasing regulation and tax concerns are making privacy cryptocurrencies popular again. Monero has become the second fastest growing cryptocurrency on the market, up 9% over the past few hours.
ApeCoin is back in the market with 10% growth in the last 24 hours. Behind the recent price increase is the BAYC-focused mini-series that Coinbase will produce. We gave information about the details of the project yesterday evening. BAYC has undoubtedly built up a sizable and influential community in the NFT field. The metaverse plans are great, but the fact that the company is constantly monetizing the community will feed "central metaverse" concerns in the near future. After Facebook's rebranding as Meta, the crypto community began to voice these concerns out loud. If the central dominance on the Web2 side will be on the Web3 as well, we may be doing something wrong again.
APE has failed to reach its all-time high of $40 since its initial listing on cryptocurrency exchanges, and is trading at around $11.29 at the time of writing. As for trading volume, ApeCoin lost 95% of its trading volume.