Snowfall Protocol (SNW) is outperforming other major tokens like Shiba Inu (SHIB) and ApeCoin (APE).
The crypto market is known for its volatility, and investments in digital assets can be high-risk endeavors. Still, many investors are drawn to the potential rewards of the crypto space, and tokens like Snowfall Protocol (SNW) offer an attractive proposition in today’s market. Let’s have a look at why Snowfall Protocol (SNW) is outperforming other major tokens like Shiba Inu (SHIB) and ApeCoin (APE).
ApeCoin (APE) Drops Over 55% in 2022
The ApeCoin (APE) community was quite excited about the recent development of their staking rewards. Both the ApeCoin (APE) token and the NFTs that were tied to it saw a large spike in purchases that led to temporary price spikes. However, the buzz surrounding ApeCoin (APE) quickly died down after the announcement. One of the possible reasons for the decline could be decreased incentives received from ApeCoin (APE) staking pools, which may be contributing to declining interest in the token.
The daily price chart for ApeCoin (APE) shows that it has been falling steadily, and is now close to its all-time low. The value of ApeCoin has fallen from $27.79 this year to $3.63, a drop of more than 55%. The trading volume of the ApeCoin (APE) token also dropped 31.18% in a single day, on December 14. This shows that momentum for ApeCoin (APE) has declined sharply, heralding significant lows for the token ahead.
Shiba Inu (SHIB): Just Another Coin Meme
After seeing significant gains since the beginning of the year, Shiba Inu (SHIB) fell in May 2022, along with other cryptocurrency markets. The current price of a Shiba Inu (SHIB) is $0.00000831. In the last 7 days, Shiba Inu (SHIB) has fallen by 6.58%. There are several reasons for the Shiba Inu (SHIB) price drop.
First of all, the value of meme coins like Shiba Inu (SHIB) increases when people show interest in the token, or when public figures talk about them.
Furthermore, experts agree that Shiba Inu (SHIB) was created with a great deal to keep the price per coin down, in the hope that those unfamiliar with cryptocurrencies will mistakenly believe that it is a great deal, compared to other chips.
The fact that the Shiba Inu (SHIB) has no practical purpose and no real use case has also affected its price recently.
Snowfall Protocol (SNW) Gets Ahead of other Tokens
Snowfall Protocol (SNW) is an innovative cross-chain exchange ecosystem that can be used with both fungible and non-fungible tokens. Using the Snowfall Protocol (SNW) decentralized application (dApp), users can move assets between the most widely used Blockchains.
More than half of the Snowfall Protocol (SNW) tokens were bought during the last pre-sale session, and their prices increased by 400% in the last two months. Snowfall Protocol (SNW) is currently trading at $0.14 and is soon expected to rise to $0.24 at the end of this pre-sale. More than 200 million tokens have been sold so far, making Snowfall Protocol (SNW) a market darling.
By Audy Castaneda
