Surprise, surprise: people are aping into ApeCoin.
Covered:
- ApeCoin Price Action
- The Future Of ApeCoin
ApeCoin Price Action
ApeCoin (ticker symbol: APE) is up 50% over the last seven days and another 6% in the previous 24 hours. The technically unofficial coin of Bored Ape Yacht Club (BAYC) is trading in the $18 USD range as of press time.
The action is likely guided by the upcoming Otherside BAYC metaverse launch on April 30th. Rumors started last week that a potential metaverse land sale would be tendered in ApeCoin, and they appear to have been since confirmed.
That hasn’t been the only news guiding the price. The recent Coinbase NFT marketplace beta launch drove up the weekend’s price.
So far, the good news hasn’t resulted in any prolonged “sell the news” action. Instead, we are seeing a healthy pattern of pumps and pullbacks with higher highs and higher lows.
The Future Of ApeCoin
It’s been an impressive run for the coin that many accused of being a pump and dump. However, many pointed out ApeCoin had a fair release and that overall, the signs pointed to a coin that could really have a built-in community that could grow from there. So far, that looks like it might be the case.
The long-term prognosis looks good for ApeCoin. However, the short-term might be a bit problematic. How problematic is also unclear because the details of this upcoming land sale are murky. Currently, the Discord isn’t open to new followers, and their official site is down.
So with limited information, it’s important to consider the pros and cons. Taking into account the upcoming land sale, we could see a selloff. Of course, this also depends on what happens on the otherside — pardon the pun. Will APE be converted into ETH or USDC afterward to pay for further development of the BAYC metaverse?
Worth considering scenarios like that with the April 30th launch coming up.
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The post ApeCoin Is Running; When Does It Stop? appeared first on CryptosRus.
