The NFT industry has been on a boom for the past few years, and there is no stopping it anytime soon. The NFT project Bored Ape Yacht Club has been one of the most successful in the blockchain industry. On 16 March, Yuga Labs announced the launch of ApeCoin with a Twitter Inc (NYSE:TWTR) thread, a new Twitter account, and a website. The token will be used for culture, gaming, and commerce to build out the Web3 efforts for the Company.
A total of 150 million tokens were made claimable for Bored Ape Yacht Club (BAYC) and Mutant Ape Yacht Club holders from 17 March 2022. BAYC has a vast collection of thousands of eight-styled NFTs. All of these Ape NFTs earlier created a storm on the internet, and for that reason, we saw different Ape NFTs with different costumes and facial expressions. In addition, many believe that Apecoin can also be used in various crypto games. And for that reason, its value may increase even more.
ApeCoin (APE) token surged as much as 30.17% on 20 April 2022 to an all-time high of $17.17. Over the past week before its launch, the price of the token is up more than 32% and 62% since its launch, according to CoinMarketCap.
Today’s APEcoin.dev price is $0.001953 USD, with a 24-hour trading volume of $1,017.95. APEcoin.dev is up 0.90% in the last 24 hours. The current CoinMarketCap ranking is #6323, with a live market cap of not available. The circulating supply is not available, and a maximum supply of 10,000,000 APE coins.
Let’s take a look at whether you should consider buying 100 APE – as investors are doing – as part of your portfolio after going through this ApeCoin price prediction.
Read also: Bitcoin, Binance Coin, Elrond, and ApeCoin Daily Price Analyses – 15 June Morning Price Prediction
What is ApeCoin?
ApeCoin (APE) is a digital asset that allows users to send and receive payments in a secure and efficient way. ApeCoin is built on blockchain technology and utilizes a peer-to-peer network to facilitate transactions. APE is utilized in the ApeEcosystem to encourage a decentralized community that advances Web3. ApeCoin is a cryptocurrency that was created and launched by ApeCoin DAO, a decentralized autonomous organization dedicated to promoting the coin in the future years. Hosted on the Ethereum blockchain, ApeCoin is an ERC-20 token meant for governance and utility.
The ApeCoin would be used as the primary currency within the Bored Ape Yacht Club ecosystem. The cryptocurrency would power all the transactions on the decentralized project, providing a more streamlined and efficient way to handle all the financial operations. Moreover, using blockchain technology would help ensure transparency and immutability of all transactions. The ApeCoin would also be used to reward the platform’s users for their participation and contribution.
Under the Ape Foundation, Yuga Labs purports to establish governance for the ecosystem as a decentralized autonomous organization (DAO). Apecoin token holders will be able to have a say on the next ecosystem upgrades. Together with Ape Foundation, they will also be responsible for developing and adopting the Apecoin token.
How does ApeCoin Work?
The main aim of ApeCoin is to provide a more efficient way of handling payments and transactions. The ApeCoin utilizes blockchain technology to achieve this goal. Blockchain is a distributed ledger system that records and verifies transactions made in a network. The use of blockchain ensures transparency and immutability of all transactions.
The Bored Ape Yacht Club, long renowned for its satire and humor in trading circles, was the basis for ApeCoin, a cryptocurrency named after a well-known animal. The APE token is a governance mechanism in the APE ecosystem.APE powers the community that is cryptocurrency development at the forefront of web3E.
ApeCoin cryptocurrency holders can choose which path the ecosystem takes and whether ApeCoin DAO funds are spent in a particular way. APE tokens were distributed to the project’s participants, who will use them in the ApeCoin ecosystem to fund various activities.
Many people consider ApeCoin to be a meme token, if not an excessively hyped currency, because of its connection to the NFT fund. Some investors are firmly behind ApeCoin, while others believe its bubble will burst in weeks.
Team Behind ApeCoin
The ApeCoin team is composed of experienced professionals from various backgrounds. The team is led by Yuga Sato, who is the founder and CEO of ApeCoin. Other members of the team include Daisuke Tanaka, who is the CTO of ApeCoin, and Kenta Suzuki, who is the Head of Business Development.
The ApeCoin team is advised by a group of experienced individuals from the blockchain and cryptocurrency industry. These advisors include Vitalik Buterin, the founder of Ethereum, and Daico Takahashi, the co-founder of OmiseGO.
Utility of the ApeCoin Token
The ApeCoin token is an ERC-20 token that is meant for governance and utility. The main use of the ApeCoin token is to reward the users of the platform for their participation and contribution. The ApeCoin token is also used to pay for transaction fees in the ApeCoin network.
One of the reasons why ApeCoin is experiencing phenomenal growth is due to its DAO mechanism. DAO means decentralized autonomous organization where the project is not under an individual or entity’s leadership. Instead, the whole community derives it.
In other words, if you hold Apecoins, you can participate in ApeCoin’s community and get involved in all sorts of decisions being made. Due to this reason, you can now know what’s going on and what new things should be added to the network.
What Is The ApeCoin Foundation?
The ApeCoin Foundation is a decentralized autonomous organization responsible for developing and adopting the ApeCoin token. ApeCoin is a cryptocurrency that was created by the APE Foundation, which is responsible for its operation. It’s not like a regulator; it’s more of a foundation layer on which holders of ApeCoin in the ApeCoin DAO may build. The ApeCoin website says that the fund will be dispersed among an ecosystem fund (62 percent), Yuga Laboratories (16%), launch contributors (14%), and the founders of Bored Ape Yacht Club (8%).
Mission
The Foundation’s objective is to provide decentralized and community-led governance, and it aims to become more decentralized over time. It is in charge of the ApeCoin DAO’s decisions and is responsible for day-to-day management, accounting, project management, and other duties that ensure the DAO community’s ideas receive the support they require to come to reality.
The APE Foundation’s mission is to promote and protect the APE ecosystem in a fair and inclusive way. The ApeCoin Foundation’s primary objective is to utilize the Ecosystem Fund, which is governed by a multisig wallet, to pay its costs as directed by the ApeCoin DAO while providing an infrastructure for ApeCoin owners to collaborate via open and free governance procedures.
Vision
ApeCoin’s vision is to create a decentralized future where everyone has an equal say. The project aspires to build a global community of ApeCoin holders who can shape the future of the APE ecosystem.
The ApeCoin Foundation’s vision is to provide an infrastructure for ApeCoin owners to collaborate via open and free governance procedures.
ApeCoin also plans to use the APE ecosystem to create digital gaming, entertainment, and art.
The possibilities for blockchain’s impact on culture are so infinite that they can’t possibly all be anticipated yet
ApeCoin Team
ApeCoin Price History
When Yuga Labs debuted the Bored Ape and Mutant Ape NFT collections, they became the most popular NFT brand. Apecoin was founded by Yuga Labs to power the entire operation of their apps and services offered in order for them to be improved. APE price fell to a low of $6.48 within an hour, and it remained in a sideways range between that figure and $9.35 for the rest of the afternoon. Many investors were concerned by the huge gaps in APE’s value, with several centralized exchanges claiming that ApeCoin had dropped 80% in a few hours of its launch.
The ApeCoin team is aware of the project’s high risk and volatility, but they believe that the long-term potential rewards justify these risks. On the minute of the airdrop, Binance recorded a high of $28 on its one-minute chart, while Gate recorded an incredibly large $214.
In late March, VC powerhouses Andressen Horowitz led a funding round that cost Yugat $4 billion, bringing the company’s valuation to an astounding $4 billion. The coin has recovered some market momentum and is currently priced at $12.80.
Later, when Yuga Labs said it was working on an “Otherside metaverse,” there were a lot of positive developments. On 28 April, the price was $26.91, setting a new all-time high. Since then, however, it has dropped significantly, and the current price is $3.88 with a 24-hour trading volume of $385,646,11.
ApeCoin has a current market cap of around $1,163,243,712, and it is ranked the 41st largest by that metric. ApeCoin has also surpassed MANA, SAND, and AXS to become the most valuable Metaverse token.
Gemini announced the APE staking after the ATH last April, creating a lot of buzz around its complementary BAYC projects, such as Yuga Labs’ pending Metaverse launch that will be accessible by other exclusive, high-priced NFT projects including CryptoPunks and World of Women.
According to a Twitter post by Coinbase, the crypto exchange will be bringing the Bored Ape Yacht Club brand, alongside the recently launched ApeCoin, to the big screen, with a chance for the community to be part of the Degen Trilogy. The combination of this news is the most likely catalyst for APE’s positive pricing momentum.
ApeCoin Technical Analysis
Apecoin price analysis shows that the token has been on the bearish side of the market for a while now. However, recent price action shows that the token might be ready to make a move to the upside. According to tradingview Apecoin technical analysis on a daily chart, the token has been trading in a descending triangle pattern. This is a bearish pattern and it is likely that prices will continue to fall as long as this pattern holds.
The support for ApeCoin APE is at $3.23; if this level is broken, prices will likely fall to $2.23. On the other hand, if prices move above the resistance of $3.85, it is likely that the token will make a move to $4 levels. The technical indicator, Relative Strength Index (RSI), is currently in the oversold region and this suggests that the token might be due for a corrective rally in the short term. However, the 200-day moving average (MA) is still trending downward, which is a bearish sign.
In a 24-hour ApeCoin APE price chart, Apecoin has formed a bearish engulfing candlestick pattern and a bearish reversal pattern. This suggests that prices are likely to fall in the short term. The APE coin price failed to break out of the descending triangle pattern, which is a bearish sign. However, the MACD is currently in the bearish zone and is showing signs of a possible bullish crossover. This suggests that prices might move higher in the short term. The Apecoin price is currently trading at $3.38 and is down by 1% over the past 24 hours. The token has a market capitalization of $112 million and is ranked at number 130 on CoinMarketCap.
On the 4-hour price chart, the ApeCoin APE price is trading below the $3.50 level and has formed a bearish candlestick pattern. The RSI is currently in the oversold region and is showing signs of a possible bullish crossover. This suggests that prices might move higher in the short term. The MACD is below the zero line and shows signs of a potential bullish crossover. However, this is not investment advice as the crypto market is notorious for its price volatility. Price prediction 2022 is based on technical analysis and other factors affecting the price.
ApeCoin Price Predictions by Authority Sites
Wallet Investor
Wallet Investor predicts that APE is a good long-term investment. The website predicts that APE price in the long-term is expected to increase and reach $5 by 2023. However, it is expected to fall back down and reach $2 by 2025. It predicts that the average price for 2025 will be $3.
DigitalCoin Price
DigitalCoinPrice predicts that the APE price will grow in years to come, by 31 December 2022, the coin will reach $4.53 and $6.63 on 31 December 2025. it also predicts that Apecoin’s price will reach approximately $35.25 at the end of 2027.
Price Prediction
According to PricePrediction.net, ApeCoin (APE) is a good investment and the APE price will continue to grow according to their ApeCoin price chart. The website predicts that the price will reach $15 by 2025 and $104 by 2030. at the end of 2022, the price will be around $4.7; in 2025, it will be around $15. Many websites are predicting that the price will continue to grow in the future and reach new highs.
CoinCodex
According to their current ApeCoin price prediction, the value of ApeCoin is predicted to drop by -9.70% and reach $ 4.07 by June 26, 2022. Their technical indicators show Bullish current sentiment, while the Fear & Greed Index is showing 9 (Extreme Fear). ApeCoin recorded 12/30 (40%) green days with 24.96% price volatility over the last 30 days. Based on their ApeCoin forecast, it’s now a good time to buy ApeCoin.
Cryptopolitan
ApeCoin Price Prediction 2022
According to the current Apecoin (APE) price analysis, the APE price is expected to reach a minimum of $4.22 in 2022. or a maximum of $4.78 by the end of 2022. The crypto market trend seems to be quite bullish, with some analysts even predicting it to average $4.46 which is a bullish sign by the end of 2022. Remember that this does not constitute investment advice.
ApeCoin Price Prediction 2023
The Apecoin prediction for 2023 suggests that the Apecoin (APE) price is expected to reach a maximum of $7.25 by the end of 2023. Ape is expected to have a good year with a lot of positive news and partnerships lined up. The community is also very bullish on the price and expects it to reach new highs by the end of 2023.
ApeCoin Price Prediction 2024
In 2024, the price could potentially reach a maximum of $10.35 by the end of the year. This is a very optimistic prediction based on the fact that the price has shown a lot of growth potential in the past few years and the fact that the community is quite bullish on the price.
ApeCoin Price Prediction 2025
APE price prediction is expected to continue moving upward and reach a maximum of $15.24 by the end of 2025. with some predictions suggesting a minimum price of $12.93, there is a lot of positive news and development lined up for ApeCoin, which is expected to drive the price upward in 2025.
ApeCoin Price Prediction 2026
APE price prediction suggests a good year in 2026 and the price is expected to reach an average of $19.63 by the end of the year. The price might reach a maximum of $22.36 and a minimum of $19.10 during the year. The bulls are in control of the market and are expected to drive the price higher in 2026.
ApeCoin Price Prediction 2027
Apecoin’s price is expected to reach an all-time high of $35.25 by the end of 2027 on the other hand, the price might fall to a minimum of $32.13.market trend and the community’s Sentiment seem to be quite bullish in 2027.
ApeCoin Price Prediction 2028
APE price prediction for 2028 expects mass growth and a maximum value of 47.49 is expected by the end of the year. The expectations are also suggesting that the price might reach an average of $41.05 and a minimum of $39.93 during the year.
ApeCoin Price Prediction 2029
Ape is expected to move upward in price and reach a maximum of $69.16 by the end of 2029. The price might also fall to a minimum of $59.76 during the year. Additionally, the APE token is expected to have a good year with a lot of positive news and partnerships lined up.
ApeCoin Price Prediction 2030
The long-term Apecoin price predictions are quite bullish. Many analysts predict that the price will continue to grow soon and reach new highs. The price is expected to reach an all-time high maximum of $104.58 by the end of 2030. Bulls are in control of the market and are expected to drive the price upward in 2030.
ApeCoin Price Prediction 2031
The price of APE is expected to reach an all-time high of $151.01 by the end of 2030 and continue to grow in 2031. The price might also fall to a minimum of $103.52 during the year. Additionally, the APE token is expected to have an average of $121.69 in 2031, which is a bullish sign. If you want to buy ApeCoin, best to do your own research.
Conclusion
Apecoin is expected to have a bright future with a lot of positive new projects and partnerships lined up. The community is also very bullish on the price and expects it to reach new highs by the end of 2030. The long-term price predictions are quite bullish on APE. Many websites are predicting that the price will continue to grow in the future and reach new highs. The price is expected to reach an all-time high maximum of $151.01 by the end of 2031.
Bulls will be in control of the market and will be expected to drive the price upward in 2031. However, technical analysis suggests that the price might reach a maximum of $104.58 by the end of 2030 and fall to a minimum of $103.52 during the year. The token launched last week aims to empower and incentivize decentralized community building at the forefront of web3.
Source: https://www.cryptopolitan.com/apecoin-price-prediction/