Bullish for SHIB, Monero and ApeCoin During The Bloodbath Market

While top-tier cryptocurrencies like Ethereum and Bitcoin are plummeting in value, altcoins such as Monero, ApeCoin, and SHIB have gained about 10% in the last 24 hours, showing that traders and investors are going for riskier options, according to CoinMarketCap.

SHIB Is Rising Hard

Shiba Inu proved one of the strongest positions in the cryptocurrency market today, rising around 15% in value despite the overall conditions in the cryptocurrency market. Previously, one of the Ethereum network’s largest whales purchased $6 million in tokens, vaulting Shiba Inu to the first position as the largest USD-valued holding on WhaleStats.

Monero Signalling of a Bullish Market

An unexpected thing to see cryptocurrencies such as Monero rise during the present market conditions, and demand for private digital assets has been neutral since the beginning of the year when XMR unexpectedly surged.

Monero is the second-fastest-growing cryptocurrency on the market as of press time, with a 9% increase in the last few hours. In the medium run, XMR has already increased more than 40% of its value, making it one of the most profitable digital assets.

ApeCoin Makes A Comeback

APE, a long-forgotten altcoin, has returned to the market with a 10% increase in the previous 24 hours, following a series of buying sprees on minor altcoins. Because there are no fundamental reasons for the current price surge, traders are most likely shifting their capital around projects in order to prevent Bitcoin risk.

APE has failed to hit the monitored all-time high of $40 since its debut listing on cryptocurrency platforms and now trades at about $12. APE lost more than 95% of its trade volume during the first month of trading.

DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

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