Definition
Apeing, a term popularized in 2020, refers to the act of hastily investing in a cryptocurrency or asset without proper research or due diligence. Apeing gained popularity during the DeFi (Decentralized Finance) boom, often fueled by FOMO (Fear of Missing Out).
Interested people
Typically, people ape into new tokens or projects with high potential returns, hoping to profit from an early investment. However, this risky approach can lead to significant losses if the project underperforms or turns out to be a scam.
Example
An example of “apeing” in the crypto world is the trend of investing in meme-based cryptocurrencies. These projects have gained popularity due to their humorous and often irreverent nature, as well as their potential for quick gains. However, many of these projects lack a clear use case or solid fundamentals, making them highly speculative and risky investments.
As a result, many investors have lost money due to investing in these projects without proper due diligence.
Dodgecoin
One meme coin that is part of apeing is Dogecoin (DOGE). Dogecoin was created in 2013 as a playful take on Bitcoin and quickly gained a cult following due to its amusing dog-themed branding and social media presence. However, despite its lack of clear use case or fundamental value, Dogecoin has seen a surge in popularity in recent years. It also fueled in part by celebrity endorsements and social media hype.
In early 2021, Dogecoin’s price skyrocketed after tweets from Elon Musk and other high-profile individuals, leading to a wave of investment from retail investors who were looking to capitalize on the hype. Many of these investors were “apeing” into the project without fully understanding its fundamentals or the risks involved.