As soon as the token project goes live, many traders rush to buy the tokens without doing their due diligence because they are afraid of missing out on potential gains that could be lost if they delay.
What is Apeing?
The term “apeing” was coined during the “DeFi Summer” of 2020, when a small percentage of traders profited greatly from buying tokens from unannounced token projects that launched suddenly and unexpectedly.
As word spread on social media about these huge profits, other traders tried to follow suit by purchasing tokens from newly launched projects without doing any research beforehand. The term “apeing” is derived from this “low IQ” approach to selecting tokens to buy.