The cryptocurrency market seems to have bottomed out and is bouncing back. The total cryptocurrency market jumped 4% to $964 billion in less than 24 hours.
If the current momentum continues, the market could cross the trillion dollar mark before the end of June. Most altcoins are already making double-digit gains, signaling potential price upside in the short to medium term.
Under these conditions, two low-cost cryptocurrencies look poised for a V-shaped recovery and could potentially be rewarding for investors. The two are ApeCoin (APE) and Shiba Inu (SHIB).
ApeCoin
ApeCoin has fallen significantly since hitting an all-time high of $26.3 in April to trade at $4.6. However, buyers seem to be aggressively embracing the EPA. In just 7 days, ApeCoin has increased by 38% and purchase volumes are increasing.
If the market continues with the current recovery, ApeCoin has what it takes to outperform the market by a considerable margin. It is a new cryptocurrency, but its adoption is growing. Recently, news emerged that Saltwater Brewery was considering accepting ApeCoin for payments. At the same time, the use case for ApeCoin in the Metaverse is growing. For example, a game called Benji Bananas now accepts ApeCoin for in-game transactions.
With the launch of Otherside Metaverse, there is a good chance that ApeCoin could gain even more use cases in the future. The Metaverse, coupled with Ape NFT commodity sales, could see ApeCoin emerge as one of the best cryptocurrencies to buy in 2022. One that could be among the first to retest all-time highs once the bear market ends.
shiba inus
The Shiba Inu hype of 2021 may be gone, but that doesn’t mean SHIB’s potential as an investment is gone. While Shiba Inu has been bearish since late 2021, SHIB has been reactive to a potential bullish reversal in the broader market. As of this writing, Shiba Inu are up 10% and have seen gains of 47% in one week.
One of the critical factors likely to support Shiba Inu growth is the increasing number of products appearing in the Shiba Inu ecosystem. For example, Shiba Inu recently launched a DEX.
At the same time, the Shiba Inu now has a Metaverse, which could open up a whole host of use cases for the SHIB token. Shiba Inu also has a deflationary tokenomics, and almost 50% of the total supply has already disappeared.
Based on all these factors, if the bullish momentum strengthens in the market, SHIB could become one of the big winners.
Conclusion
Buyers are back in the market, and there is a strong possibility of a V-shaped rally in the market. If that happens, ApeCoin and Shiba Inu are showing signs of a potential rally that could beat most major cryptos in gains. Both also have the fundamentals to support a short to medium term rally.
