While current market data clearly reveals the declines in the crypto market, weekly losses continue to be seen in the leading cryptocurrency Bitcoin and the most valuable altcoin Ethereum.
But despite all this negative weather Shiba Inu and ApeCointhey are mentioned with their approximate 20% and 10% increase in value.
Meme cryptocurrencies Shiba Inu (SHIB) is currently trading at $0.00002653, while ApeCoin is trading at $ 12.09.
The most popular cryptos, Bitcoin and Ethereum, have not gained any momentum in the last 24 hours. The leading duo forced their investors to wait with 11% and 8% declines last week.
According to CoinMarketCap, although the total market value of all cryptocurrencies has dropped to $1.87 trillion, the recent price increases of both Shiba Inu and ApeCoin have brought certain reasons.
Shiba Inu was a popular stock and cryptocurrency trading platform earlier this week. Robinhood It was among the few cryptocurrencies listed by
Solana (SOL), Polygon (MATIC) and Compound (COMP) They were also on the Robinhood listing, but none of these assets have risen as strongly as the Shiba Inu.
The fact that Shiba Inu Metaverse land sales, which were announced in the past weeks, started as of today, is one of the factors that reflects positively on the price.
Effect of SHIB Burns on Price
Since the end of last week, almost 2.5 billion Shiba Inu have been sent to dead wallets in an attempt to make the famous meme token even more scarce and raise its price. In addition, a total of 324,040,132 Shiba Inu have been burned in 9 transactions in the last 24 hours.
ApeCoin Triggers
ApeCoin, the native cryptocurrency for the Bored Ape Yacht Club NFT series, has also had a number of successes in recent days.
Earlier this week, Coinbase announced the development of a three-part animated short film series based on the Bored Ape Yacht Club NFT project. The first series of short films to be produced by Coinbase is called “The Degen Trilogy,” which will premiere at the NYC.NFT conference in June this year.
“We were inspired by the Bored Ape Yacht Club community and were excited to invite them to produce this movie with us,” said William Swann, Coinbase’s Director of Entertainment and Culture Marketing. said.
Also this week, Bored Ape Yacht Club-themed burger restaurant Bored&Hungry announced that it has entered service in California by accepting Ethereum and ApeCoin as payment.
All these developments have enabled the pair in question to take a step forward in the bearish crypto market.