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The crypto market is undergoing a bearish trend, but this downward trajectory is worse for some projects, who are experiencing a significant decline in DeFi coin price. The Bored Ape Yacht Club, founded by Yuga Labs, has been a big hit in the crypto world for its unique non-fungible tokens (NFTs). However, the native token of the NFT collection, Apecoin ($APE), has recently experienced a severe drop, falling by about 43% over the last month. According to its chart, $APE has hit an all-time low of $1.14.
Reviewing this token's analysis further establishes its downward trend and bearish conditions. Apecoin has fallen below its initial support level of $1.50 and is now nearing a new support level of $1.0. Amid these changes, Apecoin's trading volume and market capitalization fell to around $53 million and $417 million, respectively, putting it at number seventy-two on the crypto list by market cap. $APE also has a relative strength index (RSI) of 24.8 and a moving average convergence divergence (MACD) of -0.004, showing it is bearish. Apecoin has also featured a $1.13 low and a $1.17 high, indicating a price change.
This decline in the price of $APE coincides with the drop in activity in the NFT market. While the associated NFTs to the token seem to be faring better, Apecoin's decline from its all-time high of about $26.70 in 2022 has left holders skeptical. To bolster the community, the project's team announced four improvement proposals, but FUD continues to heighten even as voting results show that the proposals are headed towards acceptance.
As the year progresses, Apecoin maintains its bearish trend. With the project's anticipated $50 million token unlock imminent, the supply of $APE will skyrocket while its demand remains low. This puts the token at a disadvantage, with bearish predictions of hitting $1 by year-end. As Apecoin continues to drop, investors seeking better options to improve their portfolios are looking at InQubeta ($QUBE). This innovative AI-focused cryptocurrency is expected to amass a 100x increase in 2023.
InQubeta is rapidly gaining recognition as the best new crypto to invest in for its unwavering commitment to innovation and unique approach within the blockchain space. With its remarkable features and offerings, the exceptional cryptocurrency has captured the attention of investors seeking top tokens for significant returns in 2023. One of the standout qualities of this top token on the initial coin offering list is its predicted growth trajectory.
This digital asset isn't just another run-of-the-mill cryptocurrency; it's a project that promises to revolutionize the artificial intelligence (AI) industry. It aims to achieve this goal through crowdfunding to support AI tech startups. The focus would be on raising funds through fractionated investments represented by trending NFTs.
Amid fervent price predictions circulating within the cryptocurrency market, the $QUBE presale has witnessed an impressive surge in momentum. The increasing enthusiasm for this innovative blockchain project on the initial coin offering list has driven its presale to remarkable heights. With about $3 million raised and 350 million tokens sold across four presale stages, InQubeta is a testament to the growing interest in projects that offer more than just speculative value.
The token is now selling at a DeFi coin price of $0.0133, signifying its continuous growth in the market. The DeFi coin price upon launch, expected to be $0.0308, adds to the anticipation surrounding this project, hinting at the potential impact of its success on the broader blockchain and cryptocurrency ecosystem. InQubeta also offers investors access to more impressive features that further cement its prominence in the market. Aside from supporting startups, the project allows $QUBE holders to benefit from the growth of the startups they invest in. Investors can earn from a dedicated rewards pool on the platform, funded by a 5% sell tax. The influx of investors into InQubeta's community proves its potential as the best new crypto to invest in for massive gains before the end of 2023.
The cryptocurrency market is as dynamic as ever, with Apecoin experiencing a 43% price drop. Meanwhile, the intriguing prediction of $QUBE potentially increasing 100-fold in 2023 adds another layer of excitement to the market. InQubeta, with its unique features and growing presale momentum, stands as a testament to the ongoing innovation within the blockchain space. The project's unique offerings and its use of trending NFTs to revolutionize the AI industry make it a significant option for all investors seeking crypto investments for immense returns.
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Disclaimer: Analytics Insight does not provide financial advice or guidance. Also note that the cryptocurrencies mentioned/listed on the website could potentially be scams, i.e. designed to induce you to invest financial resources that may be lost forever and not be recoverable once investments are made. You are responsible for conducting your own research (DYOR) before making any investments. Read more here.
