ApeCoin and Fantom Dips While The New Meme King Pomerdoge Gains Traction

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The dynamism of the crypto market has prompted many investors to restructure their investment portfolios. Thus, loss-making cryptocurrencies like ApeCoin (APE) and Fantom (FTM) have failed to gain investors’ support.

On the other hand, a new project, Pomerdoge, has become the most favored cryptocurrency within days of its presale launch. Experts believe that Pomerdoge’s value can rise by 40x in the coming months.

Click Here To Find Out More About The Pomerdoge (POMD) Presale

The ApeCoin community is worried as APE is consistently falling on the price chart. In the past 30 days, the price of ApeCoin (APE) has fallen by more than 7%. Thus, the current trading price of ApeCoin (APE) has come down to $1.85. Moreover, the future signs for ApeCoin (APE) are not looking positive either.

The supply of ApeCoin (APE) on exchanges has increased in the past few weeks. This, according to experts, indicates that people are more interested in selling ApeCoin (APE) tokens than holding them. A significant drop in the floor price of BAYC has further aggravated the condition of ApeCoin (APE).

A recent report by Messari has revealed the ill health of the Fantom (FTM) network. As per the report, Fantom (FTM) has witnessed an 18% QoQ decline in daily active addresses.

Besides, daily transactions of the Fantom (FTM) blockchain have plunged by 24% QoQ. Moreover, the market cap of Fantom (FTM) has suffered a 36% drop since the SEC filed a lawsuit against Binance and Coinbase. All these bearish numbers have negatively impacted the price movement of Fantom (FTM).

The market value of Fantom (FTM) has dropped by more than 13% over the past