ApeCoin Crypto is All Set to Reach an ATH Before April Ends

The APE price is maintaining a notable uptrend, swinging within an ascending parallel channel.

ApeCoin is among the contemporary cryptocurrency which shook the entire crypto space with its inception a couple of days before. Like many other tokens, the APE price also smashed the highs on the very first day of its inception. However, the asset quickly plunged below US$10 for some time and rebounded firmly. Currently, the APE price is maintaining a notable uptrend, swinging within an ascending parallel channel. And hence a notable uptrend could uplift the price beyond the US$15 initially. However, another pullback may be pretty much expected as the asset smashes these levels, but could stand strong above US$18.

Understanding ApeCoin and the ecosystem

The APE ecosystem is a community consisting of Bored Ape Yacht Club (BAYC) and Mutant Ape Yacht Club (MAYC), two of the most popular NFT collections on the Ethereum blockchain. ApeCoin (APE) is the native governance token that empowers the decentralized community of the APE ecosystem. APE has been created as the primary token for all new products and services from Yuga Labs, the company behind NFT projects.

ApeCoin (APE) is the native governance token that empowers decentralized community of the APE ecosystem. It has been created as the primary token for all new products and services from Yuga Labs, an NFT projects player.

Since its launch in April 2021, BAYC has become the biggest brand in the NFT world, with multi-million dollar sales. It boasts a growing list of celebrity owners including Serena Williams, Adam Draper, Eminem, and Mark Cuban.

Price Prediction of ApeCoin in 2022

Based on how the APE token has performed in the past few weeks and the nature of its ecosystem, we are hopeful that the price of the ApeCoin can increase marginally in the coming months. There is a good chance that the ApeCoin price will increase to US$51 by the end of 2022. It is also important to state that there is a possibility that the APE coin will drop significantly in the coming weeks before picking up again.

What Makes ApeCoin Unique?

ApeCoin is the APE Ecosystem's governance token, allowing token holders to participate in ApeCoin DAO and giving its participants a shared and open currency that can be used without centralized intermediaries. 62% of all ApeCoin was allocated to the Ecosystem Fund, which will support community-driven initiatives as voted on by ApeCoin DAO members.

ApeCoin also gives access to certain parts of the Ecosystem that are otherwise unavailable, like exclusive games and services. For third-party developers, ApeCoin is a tool to participate in the ecosystem by incorporating ApeCoin into services, games, and other projects.

More Trending Stories