Apeing occurs when a cryptocurrency trader purchases a token immediately after the token project's launch without completing extensive research, typically out of fear of losing out on possible gains that might be missed if they wait to conduct due diligence.

The word "apeing" gained popularity during the 2020 "DeFi Summer," when abrupt and unannounced token project releases resulted in a tiny percentage of traders profiting significantly from purchasing those project tokens within a very short time period following the original launch.

As word of these enormous profits circulated on social media, other traders sought to replicate them by acquiring tokens for every newly announced project without first conducting significant research. Apeing derives its name from this 'low IQ' method of selecting tokens to obtain.