Apeing refers to the act of a cryptocurrency trader buying a token shortly after its project launch date without thoroughly researching it. This is typically done out of fear of missing out on potential gains that could be lost if they hesitate to conduct due diligence.
The term “aping” became popular during the 2020 “DeFi Summer” when sudden and unannounced token project launches led to a small proportion of traders making significant profits from buying those project tokens within a very short time frame after the initial launch.
Apeing is a risky strategy as it involves investing in a token without proper research, which could result in significant losses. However, some traders use this strategy to profit from the hype surrounding a new token. The term “aping” is also used more broadly to refer to buying a significant amount of a cryptocurrency due to confidence or bullish feelings regarding the current market.