Is ApeCoin the Next Shiba Inu?
After having just dropped in March, the new digital token ApeCoin (CRYPTO: APE) has already made waves in the crypto community. The price has jumped more than 1,000% since and has been extremely volatile.
The token is directly connected to the Bored Ape Yacht Club non-fungible token (NFT) collection, a set of extremely popular and expensive NFTs that have a big following. The popularity of these NFTs and the community around them has led some to believe that ApeCoin could go on a run similar to that of Shiba Inu (CRYPTO: SHIB), the popular meme-inspired cryptocurrency. Is ApeCoin the next Shiba Inu? Let's take a look.
There are both similarities and differences between ApeCoin and Shiba Inu. Both are ERC-20 utility and governance tokens, meaning they don't use their own blockchain networks and are both issued on the Ethereum blockchain, which has smart-contract capabilities.
Source Fool.com
