ApeCoin (APE), developed by the Yuga Labs team, the creators of the renowned Bored Ape Yacht Club (BAYC) NFT collection, has been causing a stir in the cryptocurrency realm. The project has witnessed a surge in active addresses, indicating a growing interest and participation. Explore the boundless opportunities offered by ApeCoin within the Yuga Labs universe.
In this post, we will delve into the weekly and current prices of APE and offer a prediction for its future value.
Price Today
Today, ApeCoin (APE) is priced at $1.18, with a trading volume of $131,019,229.45 over the last 24 hours. The coin has seen a 10.18% increase in price in the past day and a -30.86% decline in the last 7 days. ApeCoin has a circulating supply of 630 million APE, giving it a market cap of $740,546,083.
Technicals of APE
The market trends are currently showing a mix of bearish and bullish signals. A bearish breakout from a Falling Wedge pattern and a drop below the 200-day moving average are concerning for the long-term uptrend. However, in the short term, the price seems oversold with the RSI below 30.
For swing traders, consider entering near the $1.00 support level with a potential target of $1.25. Setting a price alert is advisable to monitor any significant movements.
The Falling Wedge pattern typically signals a reversal towards a bullish trend after a downtrend. Trading within the convergence lines before a breakout can be an option for swing traders. However, many traders prefer to wait for a completed pattern with a breakout before placing a BUY order.
Currently, momentum is bearish, with the MACD Line below the MACD Signal Line and RSI below 45.
Price history
In the past month, the value of APE has declined by 45%, resulting in a significant fall.
The all-time low price paid for ApeCoin (APE) was $1.01 on October 10, 2023, which was 6 months ago. Currently, the price is 106.34% higher than the lowest recorded price.
It reached its peak price of $26.70 on April 28, 2022, nearly two years ago. Since then, the current price has dropped by 92.21% from its all-time high.
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Price Prediction
Cryptocurrency experts forecast for the APE price in May 2024. The minimum trading cost might be $1.70, while the maximum could potentially reach $1.87 during this month. On average, it is expected that the value of ApeCoin may stay around $1.77. The potential return on investment is 42.7%.