When whales migrate from one project to another, other investors follow. Recently, ApeCoin whales have been fleeing to a relatively new meme coin, Anarchy (ANA).
This migration has raised a number of eyebrows in the crypto market. But why exactly are they migrating? We took a closer examination at the migration, and found some interesting information.
Today, we will be sharing these findings with you.
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Apecoin (APE): A Broken Branch?
Not too long ago, Apecoin entered the market as a utility token for projects within the Yugaverse. ApeCoin was created around the idea of creating an ecosystem for NFTs like Bored Apes Yacht Club (BAYC), Mutated Apes Yacht Club (MAYC), etc.
Despite the relative success of the projects within the Yugaverse and the recent enthusiasm for a new project, Otherside Metaverse, APE, the utility token for this ecosystem, has been on a steady decline since Q1 of 2023 (i.e., January 29).
Just 3 days ago, $APE plummeted again, reaching a new ATL (at $1.39), a staggering downward thrust of about 98% from its ATH. In the last 365 days , $APE has suffered a fall of almost 70%.
Aside from the bearish sentiment in the overall market, another reason for $APE’s decline could be its drop in demand. By mid-August, on-chain transactions had fallen by approximately 60%.
The EMA and MACD signals are also indicating a bearish market for $APE.
As $APE continued to wane, something unexpected happened. $APE whales, those with massive holdings of the token, began migrating to a new meme coin known as Anarchy ($ANA). It seems the branches supporting these APEs are getting weaker.
Despite the general negative sentiment in the market, $ANA has become a safe haven for several investors, even attracting the APE whales.
But what makes $ANA so attractive to these large creatures of the crypto ocean?
Something huge is coming.
If you see this 👀
Then your early! pic.twitter.com/HssZ4ywwrJ— ANARCHY (@anarchycoineth) June 10, 2023
Anarchy (ANA): The Ultimate Destination of APE Whales
Anarchy ($ANA) is not just another meme coin in the robust crypto market; it stands out because of its unique purpose. Unlike most meme coins that are all about adorable mascots and trending hashtags, Anarchy is about addressing real-world issues through memes—yes, memes!
$ANA leverages memes and creativity to challenge unfair sanctions, a lack of transparency, and societal injustices perpetrated by governments and large corporations.
It’s not just a meme coin; it’s a call to action for the average citizen.With ANA, token holders are empowered to fight for their rights while having fun along the way. APE whales and other investors are fleeing to $ANA for its unique combination of social impact and profit potential.
Anarchy also includes a DAO, which allows token holders to actively participate in shaping the project’s direction, fostering a sense of community ownership and autonomy.
4.5% of every transaction in the ANA ecosystem is transferred to the DAO Treasury; the fund is secured by the Gnosis Safe, and members of the DAO can vote on how the funds should be used.
Furthermore, ANA adds a deflationary mechanism that can enhance the coin’s long-term value.
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Why Are the APE Whales Fleeing to $ANA?
So, why are the whales fleeing to this new memecoin?
It seems these $APE whales aren’t just looking for the next quick profit but also seeking to have a deeper connection with their investments. ANA offers them a chance to be part of a movement that advocates for a fairer, more transparent world.
ANA is still in its early stages, which means there’s room for significant growth. Early investors have the potential to reap huge rewards, and whales are keen on profiting from this project.
With ANA’s ongoing presale in its third stage, offering tokens at an accessible price of $0.00027, the opportunity to join this movement and make a lot of profits at the same time is within reach.
Buy ANA tokens now and join these whales to be part of the movement for a brighter future!
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Source: https://www.analyticsinsight.net/why-are-apecoin-ape-whales-fleeing-to-this-new-meme-coin/