ApeCoin Price Prediction: Is APE Showing a Strong Buying Sentiment?

• ApeCoin: A Quick Introduction
• ApeCoin: Salient Features and Partnerships
• ApeCoin Price Prediction: Technical Analysis and Price History
• ApeCoin Price Prediction: Industry Influencers
• Is APE A Profitable Investment? When Should You Invest?
• Conclusion

ApeCoin has shown significant volatility in this market turmoil. ApeCoin recently fell from $27 to $5. However, our ApeCoin price prediction explains why this coin can be a profitable investment for investors based on its recent developments.

ApeCoin: A Quick Introduction

For the past few years, the NFT industry has been booming, and there is no stopping it anytime soon. Bored Ape Yacht Club (BAYC) has been a successful project in the blockchain industry. On 16th March 2020, the company behind the BAYC project, Yuga Labs, launched the ApeCoin through a Twitter thread. The main aim of the token is to use it for culture, gaming, and commerce to build out the Web3 efforts for the company.

ApeCoin (APE) is a digital currency that allows users to send and conveniently receive payments. ApeCoin was named after a popular animal, “ape”, themed in the BAYC NFT project. ApeCoin utilizes a peer-to-peer network to facilitate transactions. This ERC 20 token is used for governance purposes, and it is operated in the Ape ecosystem to encourage a decentralized community that advances Web 3.0. It was launched by a dedicated team ApeCoin DAO, a decentralized autonomous organization that will promote the coin in the future. Yuga Sato is the founder and CEO of ApeCoin.

ApeCoin would be a primary currency within the Bored Ape Yacht Club ecosystem. The cryptocurrency would empower all the transactions on the decentralized project, and it would provide a more streamlined and efficient way to handle all the financial operations in the ecosystem. Moreover, APE would help ensure transparency and immutability of all transactions by using blockchain technology. The ApeCoin would also be used to reward the platform’s users for their contribution and participation. Let’s have a look at APE’s current details.

ApeCoin: Salient Features and Partnerships

ApeCoin holders will be able to make decisions on what direction the ecosystem will develop in and can vote on how ApeCoin DAO funds will be used. 62% of all APE tokens were allocated to the ApeCoin ecosystem fund, where holders will carry out the project’s various initiatives. The ApeCoin website explains that the fund will be distributed among an ecosystem fund (62%), Yuga Laboratories (16%), launch contributors (14%), and the founders of Bored Ape Yacht Club (8%). The ApeCoin Foundation’s primary motive is to utilize the Ecosystem Fund, which is governed by a multi-sig wallet.

ApeCoin’s vision is to establish a decentralized future where everyone has an equal right to express themselves. The project aspires to build a worldwide community of ApeCoin holders who can shape the future of the APE ecosystem. ApeCoin also plans to implement the APE ecosystem to create digital gaming, entertainment, and art.

Recently Apecoin’s price surged following some optimistic announcements. All NFTs released by Yuga Labs in the future will be minted with ApeCoins. This already happened with Otherdeed NFTs—land plot NFTs costing 305 APE a piece when launched. Yuga Labs has collaborated with top projects like CryptoPunk, Coolcats, and Meebits, where APE holders will gain exclusive perks and benefits.

ApeCoin will be used for a play-to-earn (P2E) mobile game, Benji Bananas, owned by nWay. APE saw a recent price hike of 7% after Gucci announced that it would accept ApeCoin as payment. Later Yuga Labs said that it was working on Otherside Metaverse, which led this coin to a new height.

ApeCoin Price Prediction: Technical Analysis and Price History

On the minute of the APE airdrop, Binance recorded a high of $28 on its one-minute chart. In late March, VC powerhouses Andressen Horowitz led a funding round that cost Yuga $4 billion, bringing the company’s valuation near $4 billion. The coin has recovered some market momentum since then. On 28th April, the price was $26.91, setting a new all-time high after its crash. Since then, however, it has rapidly dropped, and the current price is $7.54. On 17th March, the coin both recorded an all-time high of $40 and an all-time low of $1. ApeCoin has a current market cap of $2,314,670,755 and is ranked as the 41st largest by that metric.

The Bollinger Band’s upper limit is $9.81, a strong resistance level. Above this level, it can spike and consolidate near $15. Conversely, the Bollinger Band’s lower limit is $3.4, a crucial support level. If the support is broken, then we can see a price around $2.05, and it will take time to recover from this price level. The MACD and RSI are showing a positive signal in its price.

By the end of 2022, we can see its price with a minimum of $5.80 and a maximum of $6.59. APE tokens surged 30% after a few players were offered a look into the ‘Otherside’ Metaverse. The APE ecosystem is rapidly expanding, and we predict its price to be around $17.6 in 2025. APE is projected to remain bullish and less volatile as it aims for the $100 mark in 2030.

ApeCoin Price Prediction: Industry Influencers

According to Wallet Investor’s analysis, the APE coin has the outstanding potential to go up 116.4% in one year. Apecoin will trade in bullish markets for the entire period until 2027. Apecoin’s forecast return on investment (ROI) for 2024 will be 243.4%, 2025 will be 369.2%, 2026 will be 495%, and 2027 will be 620.1%.

Trading Beasts predicts that APE will rise gradually towards the end of the year, reaching $8.40269 in December. APE will be dominated by bulls next year, and the trend will continue. In 2024, ApeCoin will be worth around $19.79.

Is APE A Profitable Investment? When Should You Invest?

Yes! As NFT is changing the cryptocurrency market, ApeCoin will see a bullish trend soon. APE can turn out to be a profitable investment as it is showing promises from its developments and functionality. A price range of $6.4 can be a good entry point for stable investment in the long term.

Conclusion

ApeCoin is expected to have a bright future ahead with many positive new projects and partnerships lined up. The APE community is also very optimistic about the price and expects it to reach new highs by the end of 2030. The long-term price predictions on ApeCoin are pretty bullish. Many websites are predicting that the price will surge in the future and reach new highs. The ApeCoin has a growing community and an active DAO that ensures that the ecosystem serves the best needs of the community. The release of the Otherside Metaverse will play an important role and is highly anticipated, and the ApeCoin is likely to turn bullish.