When ape coin launched in March its price was around $9 per coin but within a few days reached $14.
Over the next 30 days or so it hovered around the $12 mark.
BTW, check out how to buy Ape coin if yar don’t know
ApeCoin is currently hovering around $5.2 and has been trading sideways since the summer. To be honest there is nothing I am expecting to happen. From Ape Coin’s side there are not major milestones that have been announced. Ape Coin is pretty much following the same trends that Bitcoin is and in the short term price will reflect the broader macro environment which is not looking too positive at the moment.
As of the 22nd of August ApeCoin is purely following the market trend. There was a brief bear relief rally but we seem to be on the cusp of a turning point. Currently ApeCoin is trading at around the $5 mark. The next big event to watch out for it the launch of one of their games. I’ll keep you posted in case this is significant.
June update on Ape coins’s price
After the land plot sale the price of Ape coin has dropped back down to around $7. Reasons for this are the macroeconomic backdrop with the Fed raising interest rates. Another reason could be the market down turn led by the Terra Luna collapse. A contributing factor could be that people bought the rumour but sold the news of the plot sale. The next price rally could occur upon announcements of new games in June or another plot sale in August.
Recently ape coin has moved back to that all time high price of $16 and could be set to overtake that target by the end of the month.
Ape coin price chart
The Trading View chart below indicates the starting and closing price of Ape Coin each day. If the price closed higher than when it started then the bar is green whereas if the opposite is true the bar is red.
On April 20, the price spiked.
What’s going on? Why is the price of Ape Coin suddenly increasing
The main reason for the price rise seems to be the expectation that you will soon be able to use Ape Coin in Yuga Lab’s metaverse project called Otherside.
Otherside will launch with a land sale of 200,000 plots expected to generate $455M in revenue.
The initial sale will be for 100,000 land parcels with a starting price of 1 ETH each.
The market seems to be bullish on the land sales and is loading up on Ape Coin with which you will be able to purchase land.
If you really want to understand What is Ape Coin, NFTs and metaverses as well as the team behind the coin you really need to read my article that I just linked to.
Ape Coin Technical Analysis
The technical analysis for Ape Coin’s price tells you wether it is in the buy or sell region based on parameters that traders use to inform their trading decisions.
For example, they may look at the 50 day moving average.
If the Coin trades above that average that could be an indicator that the market is bullish.
According to this signal more people are expected to buy/sell.
Technical indicators are by no means an accurate prediction. Don’t just blindly follow the advice and expect to make money.
Crypto is volatile and the market can sway at any time.
Also remember we are currently in a crypto bear market.
There better be a sustainable reason a coin is going up otherwise I would stay the devil away.
Hey, BTW, if you are interested in trending coins check out my article on CLM coin. Many people are searching for this one currently.
What if I had bought Ape Coin 30 days ago?
If you had invested $1,000 in Ape Coin on March 23rd then one month later you would have £1,372. Not bad for a one month investment but then crypto is like that.
Before you jump on the bandwagon and invest in Ape Coin remember that the fully diluted value (FDV) for Ape Coin if currently at a whopping $16Bn!
FDV is the current price of Ape Coin times the total number of Ape Coin that will ever be printed. You can think of FDV representing the full value of the Ape Coin Economy will be $16Bn.
16Bn is an incomprehensible number. This is more than the GDP of some small countries. It is an optimistic expectation to say the least. If you compare this to the FDV of some other projects it is quite high. For example, Decentraland, another popular metaverse project has an FDV of 4Bn.
If you want to understand FDV better this is a great thread.
That’s a wrap on the Ape Coin price. Please comment below if you think Ape Coin will rise in the future.