The Apes Evolved Too Far: The Apecoin Dilemma

If you’ve been online at all this year, you know about the growing popularity of Bored Ape Yacht Club non-fungible tokens. These NFTs are the biggest ones out there, and it’s every NFT trader’s dream to own one of these, which often sell for Ethereum amounts equal to over a million USD. So why would anyone want to buy one of these? There’s no good, justifiable reason to do this. But then, the creators sought to change this for good by introducing something new to the Bored Ape Yacht Club community. Everything was revolutionized with the recent creation of Apecoin. Now, you can lose both your money and your crypto with one single purchase.

Apecoin was the logical next step in the life of Bored Ape NFTs, but I’m not really saying this in a nice way. Apecoin is a secondary rash following the infection. I know I’m biased because I don’t own a picture of a monkey smoking a cigarette that I spent my entire life savings on, but most level-headed investors will tell you not to buy an NFT. But with the addition of Apecoin, that “don’t” is becoming closer to a “maybe.”

The problem with APE becoming popular is that it attracts some of the people who should not be buying a Bored Ape into buying a Bored Ape. The APE value is not yet close to stable, and if you are suddenly incentivized to buy an NFT because it has a chunk of crypto attached, you could wind up making yourself feel twice as stupid when your Apecoin and your Bored Ape picture both have no inherent value two months from now. If you were on the fence about NFTs, don’t let this push you over to the dark side.

The only upside of the Apecoin uprising is the legend of one anonymous trader who used a flash loan to borrow five Bored Apes during the giveaway at no cost to him, winding up with a profit of over one million dollars worth of Apecoins. He’s the real winner here, aside from the Bored Ape Yacht Club company, who will definitely not be missing those million Apecoins due to the influx of even more interest upon the crypto launch. We can’t help but admire him for doing something so simple but so hilariously profitable.

This article comes with a mandatory disclaimer that I am not here to give you financial advice. This is a meme website, and I regret to inform you that NFTs are a new form of meme that are generating so much profit that it makes the rest of us with normal jobs (like meme journalism) feel bad. I’m not here to roast you for buying a Bored Ape and not being able to sell it back, because if you did, I’m sure you’re punishing yourself enough already. My expertise is on Bored Ape and Apecoin memes. That being said, here are some of the best to enjoy before you make a horrible financial decision you can’t come back from.