ApeCoin (APE) has always been a strange crypto. A merge of many kinds of coins, ApeCoin

has always been going through a constant and perhaps intentional identity crisis.

Holders of APE can participate in governing decisions, vote on fund allocations, rules, partnerships, and project selection as ApeCoin is a decentralised autonomous organisation (DAO).

However, ApeCoin does not have any actual value. It is not full meme token and is often classified by crypto investors as a “s**tcoin” due to its lack of worth or purpose.

As the bear market continues to be unkind to ApeCoin (making it lose $5.29 billion market capitalization), ApeCoin should learn how to self-propagate for growth from the meme currencies Shiba Inu (SHIB) and Big Eyes Coin (BIG).

To Be Or Not To Be, That Is The ApeCoin Question?

Although many claim that Apecoin (APE) has no purpose, this is not strictly true. The utility token is meant to be used within the APE ecosystem to empower its community to build web3.

Although ApeCoin does have a DAO community, the top 100 addresses on the APE ecosystem control around 51.21% of the circulating supply, according to coincarp.com’s APE rich list.

During its release, ApeCoin generated a huge amount of buzz. However, as time passed, APE lost almost 80% of its value in April 2022. For this reason, ApeCoin should look to similar coins, Shiba Inu and Big Eyes Coin, on how to extend its ecosystem and continue growing.

From Useless, To Useful, Shiba Inu Has Had A Comeback

In many ways, Shiba Inu (SHIB) was not so unlike ApeCoin (APE) in its early infancy. A meme coin with no real utility other than being the “Dogecoin Killer”, Shiba Inu profited off the Elon Musk Dogecoin buzz on Twitter, even rising to the second highest meme coin by market capitalization.

However, when the Elon Musk Twitter endorsements died down, many meme coins suffered. Shiba Inu (SHIB) lost around $35 billion in market capitalization since the end of 2021.

Since then Shiba Inu has slowly but surely expanded its ecosystem so that it can thrive without the approval of Elon Musk. With a metaverse in the works, a Shiba Inu Incubator to support NFT artists and several charity projects, Shiba Inu is creating a thriving and diverse ecosystem in order to ensure its future.

Big Eyes Coin’s Eco-For-Ecosystem Will Thrive

Although Big Eyes Coin is still in its presale, this cute cat-based defi community has several angles to its ecosystem that will ensure the meme currency can grow and support its causes well into the future.

The wealth of the Big Eyes Coin ecosystem is directly related to the wealth of the world’s ecosystem due to its 5% visibly held charity wallet that will be donated to ocean sanctuaries. In the felines whitepaper, the introduction states Big Eyes wants an ecosystem ‘that self-propagates for Hyper growth’. This will primarily be done through NFTs, content, events, competitions, merch and the 5% marketing wallet that has already been put to fantastic use.

While it is the wish of any cryptocurrency to generate wealth and popularity for its project, Big Eyes Coin takes this further by using charity to also generate fame and as a result, health for the world.

Both Big Eyes Coin and Shiba Inu are evolving the idea of a meme token’s utility and seeing where they can take it. Apecoin needs to see the direction traditionally seen as worthless currencies are taking themselves or face risking irrelevancy. As can be seen with the Big Eyes Coin presale, a well-thought-out ecosystem can generate astonishing results.

 

Use the code BEYES959 for a BIG bonus.

For more information on the project:

Presale: https://buy.bigeyes.space/

Website: https://bigeyes.space/

Telegram: https://t.me/BIGEYESOFFICIAL

 

Disclaimer: This is a paid release. The statements, views and opinions expressed in this column are solely those of the content provider and do not necessarily represent those of Bitcoinist. Bitcoinist does not guarantee the accuracy or timeliness of information available in such content. Do your research and invest at your own risk.

Last week, Finder.com, an industry-leading price comparison website, revised its price forecast for the Shiba Inu cryptocurrency.

Recently, Finder polled a panel of 36 fintech experts for their opinions on the future performance of shiba inu over the next decade.

According to the majority of Finder’s Shiba Inu price predictions report panel, “the meme coin’s demise is a matter of when — not if.”

In the past five months, the price of Shiba Inu (SHIB) has collapsed, and crypto experts predict it will continue to deteriorate.

Thursday’s Coingecko data show that the token’s price is currently $0.00001170, a decrease of 2.5 percent over the past week. It is presently within the same limited range it experienced in late January and early February of this year.

Crypto experts expect Shiba Inu to continue deteriorating (Currency.com).

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Shiba Inu Dealing With A Lot Of Issues

Currently, its major issues are a decrease in the frequency of transactions, a decline in the holder’s account balance, and a drop in the token’s price.

Finder noted that the price of SHIB was $0.00002029 at the time of the survey, and that the panel anticipated a decrease of 7.5% by the end of 2022, when it would fall to $0.000018750.

Many investors have been deterred by the cryptocurrency’s lackluster performance this year. However, the project’s biggest weakness is its lack of utility.

Matthew Harry, head of funds at Digitalx Asset Management, was one of the experts on the panel. As the cryptocurrency market matures, Harry anticipates that all meme coins, including SHIB, will disappear.

“This market is growing, and things like SHIB will cease to exist as capital begins to flow towards quality and value, rather than being strewn about the playing field in the hope that every participant will win. Not how things work at all. Hype dies, value rises,” he said.

SHIB total market cap at $6.39 billion on the daily chart | Source: TradingView.com

Sluggish Performance By The Meme Coin

Despite joining Robinhood in April, Shiba Inu’s price and trading volume did not increase, as the cryptocurrency had already experienced a 70 percent decline in transactions during the first three months of the year.

In March alone, the number of SHIB transactions decreased from 329,893 to 216,260, which had a negative impact on its trading value, and which has decreased by about 75 percent from its all-time high in October of last year.

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Researchers at Finder have identified a number of variables that will influence the price of the meme cryptocurrency this year.

Approximately 82% of respondents believed that meme coin hype will have the most impact on the price of SHIB. The inclusion on major trading platforms, such as Robinhood, is the second most important aspect.

In addition, the debut of Shibaswap, the destruction of SHIB tokens, and the number of entities that take Shiba Inu as payment also play a role.

Featured image from EyeEm, chart from TradingView.com