The cryptocurrency world is full of surprises. The market is truly unprecedented in all shapes and forms and sometimes pushes coins into the center out of nowhere. The aforementioned development happened with Apecoin this week, as the token suddenly skyrocketed to gain mainstream momentum.
With Ape touching new price highs, the token is predicted to surge by nearly 238%; here’s when it may touch a new ATH.
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ApeCoin Leads Market Gains with Strong 24-Hour Performance
Source: Forkast
As per Santiment, Apecoin has emerged as the next best-performing coin in the last 24 hours. The token has noted significant whale activity, with two large deposits conducted on Binance and OkEx. The portal shared how nearly $11.8 million worth of Ape was moved into OkEx, followed by another almost $7.7 million worth of Ape being pushed into Binance.
“So it’s clear that whales were reacting to the more than 2x price move by Apecoin. And whales don’t typically wait for the value of their coins to double before buying more. So the likelihood of both of these being profit-taking moves was almost certain. In fact, the vast majority of transfers of coins to centralized exchanges are signs of planned profit-taking.”
At the same time, Apecoin emerged as the top coin on the radar, noting a 63% jump in its price.
“+63% price pump of the memecoin, and future price targets reflecting a bullish sentiment among traders, particularly coinciding with the launch of ApeChain.”
This development helped investors suddenly take an interest in the token, trying to capitalize on its ascent to gain a few stable returns. This spike was aligned with the launch of Apechain, the debut chain that is set to help its investors earn lucrative revenue holistically.
“ApeChain is the blockchain developed by @yugalabs to support NFT projects and expand the @BoredApeYC ecosystem. It facilitates NFT minting, trading, and dApps while providing a seamless experience for users. ApeChain offers several benefits: Scalability: addresses congestion issues seen in other blockchains. Incentives: Offers token rewards, airdrops, and staking. Integration: Fully compatible with the $APE token.”
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The Token’s Price Forecast: More Price Surges To Come?
As Apecoin forms a new line of experiments to tinker with, its price is bound to stabilize. Per CoinCodex, the token is currently sitting at $1.28 and may surge tremendously to hit $4 by the end of this month, 2024.
Image: CoinCodex
“According to our current ApeCoin price prediction, the price of ApeCoin is predicted to rise by 238.80% and reach $4.62 by November 21, 2024. Per our technical indicators, the current sentiment is bullish while the Fear & Greed Index is showing 70 (greed). ApeCoin recorded 18/30 (60%) green days with 22.13% price volatility over the last 30 days. Based on the ApeCoin forecast, it’s now a good time to buy ApeCoin.”
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