ApeCoin’s price has reached four new highs and three new lows since April 20, including a new all-time high of $27 By linking these swing points to trend lines, a falling wedge is formed.
Only a few people possess sufficient $APE to mint. As more people obtain $APE, demand for it will increase. Due to a lack of $APE, the auction will be low. All of these values are based on educated guesses. The bulk of folks misunderstand $APE when they use technical analysis or comparable approaches. They just know that Otherside is a near-certain success mint and that they will need $APE to acquire it.
Although no one knows what the floor price of Otherside will be, it is plausible to anticipate strong demand given that many non-KYC individuals will want to acquire, MAJOR LEAGUE institutional money will flow in, and many people priced out of current Yuga NFTs will want one.
According to CoinMarketCap, the maximum number of APE tokens is 1 billion, with 277.5 million currently in circulation. ApeCoin now has a market valuation of $4.02 billion, making it the 45th largest cryptocurrency in the world. ApeCoin’s meteoric rise to prominence has been remarkable, considering that it was launched just a few weeks ago.
While it seems as if the ApeCoin price is strengthening, a sharp surge in selling pressure that pushes it below $16.47 in four hours will undermine the bullish argument. This event may result in a further decline in APE’s market value to $14.43.