ApeCoin is Making a Silent Comeback! Buy Before it is too Late

ApeCoin token rose strongly to almost $28 in April after the token airdrop, its gained 18% in a day

ApeCoin's APE has gained 18% in a day as cryptos turn up. ApeCoin(APE) was originally distributed to owners of the Bored Ape Yacht Club (BAYC) and Mutant Ape Yacht Club via a claimable airdrop. It serves multiple purposes in the ecosystem. ApeCoin use cases include enabling holders to participate in the governance of the DAO and enabling them to access exclusive features of the ecosystem, such as games, events, merchandise, and services. As the APE ecosystem grows, ApeCoin earns more value than can be realistically expected. Its token rose strongly to almost $28 in April after the token airdrop.

ApeCoin rose after airdrop:

Apecoin debuted with a lot of hype, its gains happened as investors rushed to secure windfall gains. Apecoin now remains in the trenches as token trades at single-digit prices. This thesis finds APE as a strong cryptocurrency as bullish indicators emerge. It's been a little over a week since that and despite a sluggish start on debut day, ApeCoin's value has surged with week-to-date profits up by more than 58 percent at the time of writing.

The BAYC is one of the most prominent collections of NFTs in the world. The series of 10,000 blockchain-based cartoon primates, worth roughly $3 billion at today's prices, has become ubiquitous on the Internet. The gains happen across the sector, but very few coins have staged strong gains as the APE.

The virtual currency has fallen to sub $8 from a peak of $39.40 as selling pressure takes hold. ApeCoin is already ranked the 49th largest crypto with a $2.03B market cap, according to data. It has 277.5M coins in circulation which are more than the maximum 21M Bitcoins that exist. The APE coin has breached a key resistance at $5.1. It has hit another resistance at $6.0. Investors should buy on a retracement to $5.1 or at another breakout past $6.0.