ApeCoin Q1 2024 Performance: Market Cap And Token Price Skyrocket Key Findings Inside

ApeCoin (APE), the ERC-20 token governing the ApeCoin Decentralized Autonomous Organization (DAO), showed notable growth in the first quarter (Q1) of 2024.  Key metrics showed significant progress, driving APE’s market capitalization, token price, and trading volume quarter-over-quarter (QoQ), demonstrating consecutive quarters of growth. ApeCoin Regains Unicorn Status As noted in a recent report by Messari, APE’s rebound was particularly noteworthy compared to the broader cryptocurrency market, which grew 53% quarter over quarter, and Bitcoin’s market cap, which grew 63% quarter over quarter.  After briefly dipping below $1 billion in Q2 2023, APE’s market cap regained unicorn status, ending Q1 2024 at $1.3 billion, representing 31% growth. According to the report, this market value increase was partly driven by a 21% QoQ rise in APE’s token price. Related Reading: Crypto Analyst Says Dont Buy Altcoins Just Yet Heres Why The report also highlighted the unlock of 46.8 million APE tokens from the circulating supply, contributing to the market cap growth. However, this unlocks, and the $16.5 million allocated to governance expenditures potentially created sell pressure on the asset throughout the quarter.  Another 46.8 million APE tokens were unlocked in Q1 2024, with 22 million APE going to the DAO Treasury and 24.8 million APE distributed to non-DAO entities. The DAO plans to issue or sell APE to fund approved proposals, while non-DAO entities are free to sell once their funds are unlocked. Despite the additional sell pressure resulting from unlocking and committing 8.3 million APE tokens, the price of APE still saw a substantial 21% QoQ increase. This surge in price indicated a higher volume of buy orders, exerting upward pressure on the asset. The report also analyzed trading activity, highlighting the dominance of large-volume traders (whales and sharks), who accounted for 63% of the trade volume in Q1. The average decentralized exchange (DEX) swap size increased by 28% QoQ, reflecting the heightened activity among larger-volume traders.  Furthermore, the transfer volume of APE tokens grew by 12% QoQ, potentially driven by significant transactions following the approval of various governance proposals throughout the quarter. APE’s Journey Forward Looking ahead, APE’s utility is set to expand by implementing recently passed governance proposals. AIP-381 aims to build game-focused DAOs and vaults accessible exclusively to APE holders, allowing them to participate in governance and access specific ecosystem assets.  Additionally, the ApeChain proposal selected Horizen Labs to build a blockchain that utilizes APE as a gas token and potentially supports other asset-related applications. However, while APE continued to attract new holders, the growth rate of new APE holders did not accelerate despite two consecutive quarters of price increases, according to Messari.  To address this, ApeCoin DAO formed a branding partnership with a Formula One racing team, among other initiatives, to attract new holders in the future. Related Reading: Crypto Analyst Unveils Top 10 BTCfi Altcoins Post-Halving On the other hand, the ApeCoin DAO has been actively voting on new governance proposals, approving the building of ApeChain on the Arbitrum technology stack and expanding the utility of the APE token to GameFi DAOs and vaults.  The average votes per proposal increased by 19% QoQ, indicating growing community engagement. ApeCoin DAO plans to move the voting process on-chain more, promoting decentralization and participation in governance. Despite the overall growth witnessed by APE in Q1, the token has recently experienced a significant downturn, aligning with the downward trend in the overall market. APE has suffered a notable decline of over 41% in the past month, leading to its current trading price of $1.148. Featured image from Shutterstock, chart from TradingView.com

View Details

ApeCoin Price Prediction for Today, March 2 APE Technical Analysis

The ApeCoin price prediction reveals that APE is moving bullishly with a gain of 10.75%, as the coin prepares for a bullish cross. The Reason [...]

View Details

ApeCoin Price Prediction for Today, June 26: APE/USD Trades Near $3.0 Resistance

The ApeCoin price prediction shows that APE may head toward the upper boundary of the channel, if the price rises further, it could create additional [...]

View Details

ApeCoin Price Prediction for Today, January 11: APE/USD Trades Near $5.0 Resistance

The ApeCoin price prediction may lack short-term and medium-term support, but if the price rises further, the coin is likely to face the upside. ApeCoin [...]

View Details

Apecoin Prediction for Today, November 7: APE/USD Bears Market

After Apecoin fell below the $5.000 price level on October 11, it was attempting on two occasions to beat this price level. Today’s bear market [...]

View Details

Apecoin Prediction for Today, November 9: APE/USD Bears Market

After Apecoin fell below the $5.000 price level on October 11, it was attempting on two occasions to beat this price level. Today’s bear market [...]

View Details

ApeCoin (APE) Eyes $10 as Tamadoge (TAMA) Looks Beautiful

The ApeCoin price prediction shows that APE is ranging above the 9-day and 21-day moving averages at the time of writing. ApeCoin Prediction Statistics Data: [...]

View Details

ApeCoin Breaks Out With Degen Play Activated, Can $7.5 Be The Target?

The price of ApeCoin (APE) has recently struggled against tether (USDT) after seeing its price rejected from $7.5. Bitcoin’s (BTC) price showed some great strength bouncing off from a low of $18,500 to a high of $21,000. This movement has affected other altcoins as most cryptocurrencies produce double-digit gains, including ApeCoin (APE). (Data from Binance) Related Reading: Bitcoin Stablecoin Supply Ratio Now Forms A “Buy” Signal ApeCoin (APE) Price Analysis On The Weekly Chart  The price of APE has had a difficult time replicating its bullish move that saw the price rally to $7.5 in recent months as the price rallied with a good bullish sentiment.  After falling from an all-time high of $27.5, APE has struggled to stay afloat as the price fell to a low of $4. APE price has formed good support at $4 with what looks like an area of interest for buyers and investors. The price of APE closed the week with indecision between the buyers and sellers; with the new week looking more bullish, this shows strength to recover, and with this momentum from APE, we could see the price revisiting the $7.5 mark where it will face resistance to trend higher. The price of APE is faced with resistance as the price of APE is unable to trend higher in price; if APE flips this region, we could see the price going to a region of $7.5 and even higher. Weekly resistance for the price of APE – $7.5. Weekly support for the price of APE – $4.5. Price Analysis Of APE On The Daily (1D) Chart APE saw its price rejected from $7.5 as the price fell to a low of $4; the price of APE bounced from this after form support to hold off sell orders. The price of APE rallied from the low of $4 to $5.1, where it was faced with resistance to breaking above $5.4. After forming a bullish symmetric triangle and breaking out from a downtrend line, the price of APE broke out with strong bias as the price could be set at $7.5. A close of APE above $5.5 could see the price rally higher after showing bullish movements. The price of APE trades at $5.1, trying to break and hold above the 50 Exponential Moving Averages (EMA) on the daily timeframe. The price at $5.5 corresponds to the 50 EMA acting as resistance to the price of APE. APE needs to break above the 38.2% Fibonacci retracement value acting as resistance for the price of APE. If APE breaks and closes above this region, we could see the price going to $7,5. Daily resistance for the APE price – $5.5. Daily support for the APE price – $4. APE Price Analysis On The Four-Hourly (4H) Chart The price of APE in the 4H timeframe continues to look bullish after breaking out of a symmetric triangle with bullish signs; the price trades retested below the 200 EMA; flipping the 200 EMA acting as resistance for the APE price would mean more bullish sentiment.  APE price trades above the 50 EMA, with the price corresponding to $4.7 acting as a support area for the price of APE. On the 4H chart, the Relative Strength Index (RSI) for APE is below 75, indicating high buy order volume for the APE price. Four-Hourly resistance for the APE price – $5.5. Four-Hourly support for the APE price – $4.7-$4. Related Reading: Why The Ethereum Price Could Rally Above $1,800 Before A Big Crash Featured Image From Capital, Charts From

View Details

TA – Apecoin Price Rallies Ahead Of The $10 Mark

The price of Apecoin (APE) shows strength after bouncing from a weekly low of $3.10 against Tether (USDT). APE price has seen a relief bounce, with Bitcoin (BTC) rallying from a daily low of $19100 to a region of $23,000. (Data feeds from Binance) Related Reading: Are Higher Lows A Sign of a Growing Bitcoin Bull Run? Price Analysis Of APE On The Weekly Chart From the chart, the price of APE saw a weekly low of around $3.10, which has formed support. The price has built more momentum as it faces resistance at $10. With a break above the $10 mark, the price of APE would rally to $12. If the price of APE on the weekly chart fails to break the $10 mark, then a retest is bound at $6.7. The volume shows decent buy bids, pushing the price of APE higher. Weekly resistance for APE price – $10. Weekly support for APE price – $6.7.   Price Analysis Of APE On The Daily (1D) Chart The price of APE found strong support at around $3.4, with what seems to be the bottom on the daily chart. APE has continued to rally above this support region of $3.4 to a high of $7.7, where it has faced resistance. At the point of writing, the price of APE is at $7.4, trading above the 50 exponential moving averages (EMA), which corresponds to the support at $6.2.  APE price would find support at $6.2, which corresponds with the daily 50 EMA if it drops due to weekend sell-offs. If the 50 EMA region fails to hold the price, $5.2 would be a good support to hold sell-offs and for a possible bounce of APE price. With more buy bids, we could see the price of APE retesting at $10, which has been resistance on the daily chart. The RSI for APE price on the daily chart is above 65, indicating healthy buy bids for APE. The volume also indicates positive signs for APE prices to trend higher. Daily (1D) resistance for APE price – $7.7, $10. Daily (1D) support for Apecoin (APE) price – $6.2, $5.2. Price Analysis Of Apecoin On The Four Hourly (4H) Chart The price of APE has shown great strength on the 4H chart after forming support at $4.22.  APE price has rallied from this region, forming a bullish uptrend channel on the 4H chart. The price of APE was rejected at $9.10, which saw sell-offs. APE price is $7.4, trading above the 50 & 200 EMA with prices of $7 and $6.1 on the 4H chart. These prices would act as support areas for APE on the 4H chart. The price of APE has formed an upward trendline after rallying from a low of $6.50.   Four Hourly (4H) resistance for APE price – $8, $10. Four hourly (4h) support for APE price – $7, $6.1. Related Reading: Polkadot Sets Sight On $9 As It Claims The 10th Spot On Crypto Top 10 Featured image from NFT News Pro, Charts from TradingView.com

View Details

ApeCoin Price Prediction for Today, July 19: APE/USD Could Reach $2.50 Level

The ApeCoin price prediction reveals that APE could break above the 21-day moving averages to increase the bullish movement within the channel. ApeCoin Prediction Statistics [...]

View Details

ApeCoin Investors Brace For Price Volatility Ahead Of 4% Supply Release

ApeCoin, a decentralized cryptocurrency that operates on the Ethereum blockchain, recently announced a 1-month linear unlock of 4% of its total token supply. The unlock event could cause significant price volatility for the token, as some investors may sell them in anticipation of a price drop. This could lead to a sharp decline in the [...]

The post ApeCoin Investors Brace For Price Volatility Ahead Of 4% Supply Release appeared first on Crypto Breaking News.

View Details

ApeCoin Holds Steady At Key Level Can A Rebound Follow?

ApeCoin is holding steady at the crucial $1 support level, fueling speculation on whether the bulls are ready for a comeback as it maintains its position above this key mark. Recent bearish pressure has driven the token to a point where a recovery might be on the horizon, yet the critical question is: can buyers [...]

The post ApeCoin Holds Steady At Key Level Can A Rebound Follow? appeared first on Crypto Breaking News.

View Details

ApeCoin Price Prediction for Today, October 28 APE Technical Analysis

The ApeCoin price prediction may lose ground toward $0.90, but the recovery above $1.13 could help mitigate the initial pressure. ApeCoin Prediction Statistics Data: ApeCoin [...]

View Details

ApeCoin Faces Strong Resistance As Bears Seize Control At $1.755

ApeCoin is facing a tough setback as bearish momentum intensifies, with the price hitting a strong resistance at $1.755. After an attempt to push higher, the bulls have lost ground, allowing the bears to take control and halt the upward movement.  Particularly, this key resistance level has emerged as a significant barrier, signaling a potential shift in market dynamics. With pessimistic pressure mounting, ApeCoin’s future direction hangs in the balance, as traders look for signs of whether the bulls can stage a recovery or if the bears will drive prices lower in the coming days. This article analyzes ApeCoin’s struggle against strong resistance at the $1.755 level, focusing on how the bears have gained control of the market. It explores the factors driving the current bearish strength, examines key support and resistance levels, and assesses the likelihood of further downside pressure or a potential bullish recovery.  Bearish Momentum Builds As ApeCoin Hits Key Resistance Recently, APE’s price has turned bearish on the 4-hour chart, pulling back towards the $1 mark and the 100-day Simple Moving Average (SMA) after encountering strong resistance at $1.755. This retracement marks a notable shift in momentum, as the bulls failed to maintain their upward push, allowing bears to take control. An analysis of the 4-hour Relative Strength Index (RSI) reveals a significant decline, with the signal line dropping to 49% from its previous peak of 92%. Typically, a fall below the critical 50% threshold suggests that bears are gaining control of the market, possibly leading to more downside if the RSI continues to trend lower. Related Reading: Is Apecoin On Your Radar? APE Soars By 30% In 48 Hours, Signaling A Potential Bull Run Also, the daily chart for ApeCoin shows increasing negative sentiment, with negative candlesticks and a decline toward the 100-day SMA, reflecting rising selling pressure as ApeCoin struggles to hold higher levels. If bulls don’t defend the current support, additional declines are possible, making the 100-day SMA a critical level to watch for either a potential reversal or continued downward movement. Finally, on the 1-day chart, the RSI has fallen to 65%, down from its previous position in the overbought zone suggesting that buying pressure has eased and that the market could be entering a period of consolidation or possible pullback. Support Levels To Watch Amidst Bears Control As bearish momentum strengthens, key support levels become crucial in determining ApeCoin’s next move. The first level to watch is the $1 mark, a psychological and technical support that could help prevent further declines for ApeCoin. Related Reading: Is Apecoin On Your Radar? APE Soars By 30% In 48 Hours, Signaling A Potential Bull Run Meanwhile, if bears push the price below this, the next significant support lies around $0.66. A break below these levels could lay the groundwork for additional losses, as sellers would likely increase pressure. However, if APE’s bulls manage to stage a recovery at the $1 support level, the price of ApeCoin could begin to rebound toward the $1.755 resistance. A successful breakout above this resistance could pave the way for more upward movement, potentially targeting the $2.1 level and beyond, signaling a stronger bullish resurgence. Featured image from Adobe Stock, chart from Tradingview.com

View Details

ApeCoin Climbs Over 100% On Major Tech Advancements Details

ApeCoin (APE) has seen its price jump by over 100% today, driven largely by the rollout of advanced technologies and newly implemented incentive programs. These initiatives are designed to boost user participation and broaden the tokens utility across multiple networks, fueling the recent surge in value. Related Reading: Ethereum Holders On The Rise: Accumulation Addresses Double Since January 2024Report Layer Zero Integration And Interoperability The Layer Zero’s Omnichain Fungible Token (OFT) standard has now been integrated with ApeCoin through the latest update to its smart contract. This version greatly enhances ApeCoin’s capabilities, enabling it to be more than just a utility token and a governance token but also it is now the native gas token on its own blockchain, ApeChain. That way, it brings the integration of ApeCoin as a foundational part of the Yuga Labs ecosystem. @apecoin goes omnichain! APE, the native gas token of ApeChain and a core asset in the @yugalabs ecosystem, is used for transaction fees, voting in ApeCoin DAO, and as a payment method in Yuga Labs titles and IRL purchases. It is now an OFT that can be seamlessly transferred pic.twitter.com/azgIlAUW3B LayerZero (@LayerZero_Core) October 17, 2024 Another major feature of this token is Layer Zero integration, which smoothes transfers of APE across multiple blockchainsApeChain, Ethereum, and Arbitrum. This was a much-needed improvement in the token with regards to setting a new benchmark of token interoperability and increasing users’ appeal towards developers, while its excellent development process also smoothens asset transfer between networks. Native Yield Mechanism And Market Response A further aspect responsible for the recent increase in price of ApeCoin involves the implementation of a Native Yield mechanism co-developed with Decent.xyz. This means that the holders of ApeCoin receive a passive income on their holdings through this, without requiring any input from the user. The yields are credited to wallets at the end of each block with no hassle, thus leaving a highly rewarding proposition for the token holder. The updates had received wide welcome in the market, as ApeCoin traded at over 6,400% and broke out to approximately $1.84 billion in its trading volume, as the market capitalization of ApeCoin has also broken into more than $1 billion, increasing by 100% in just one 24-hour cycle. Greater Liquidity And Future Prospects Today, the cross-chain bridges support APE, ETH, and stablecoins transfer between the chains. This has made the network sustain relatively high liquidity, attracted investor attention and developer involvement. It has made transfer operations within the network smoother and more efficient. ApeChain is off to a strong start, with $25m volume traded in the first 12 hours Over 148 pools have been created with 62,700 transactions. Memes launched on @ape_express_ are then traded on Camelot. Be a Knight and start aping now https://t.co/aRc3dH1Iry pic.twitter.com/QOCBvjeKzn Camelot (@CamelotDEX) October 20, 2024 Since the upgrade, ApeChains performance has been impressive, with over $25 million in trading volume generated in just 12 hours. The creation of 148 liquidity pools and more than 62,000 transactions highlights strong user activity and growing interest in the platform. Related Reading: XRP Could Skyrocket Over 4,000%, Analyst Forecasts Price Hitting $27 The core user incentive program of ApeCoin will be launched in the near future, so it will gain more value and increase demand in the market. Some details about the program are yet to be disclosed, however, the market is already on tenterhooks for it. At the moment, ApeCoin is trading at $1.58 and, during the last 24 hours, it increased by about 109%. Despite the great momentum and rising utility, prospects for the growth of ApeCoin in the decentralized environment seem pretty good. Featured image from Techopedia, chart from TradingView

View Details

ApeCoin Price Prediction for Today, January 28 APE Technical Analysis

The ApeCoin price prediction reveals that APE is moving bullishly with a gain of 2.35%, as the coin prepares for a bullish cross. APE to [...]

View Details

ApeCoin Price Prediction for Today, July 8: APE/USD Finds a New Direction Above $2.00 Level

The ApeCoin price prediction reveals that APE is moving bullishly with a gain of 3.88%, as the coin prepares for a bullish cross. ApeCoin Prediction [...]

View Details