The recently launched ApeCoin (APE) is now among the top 40 cryptocurrencies by market capitalization. The coin was made to support web3 features like gaming, art, storytelling, and many more has frequently been riding the waves of a surge. The past week was a remarkable trend for APE, as it rallied by over a 25.9% hike.
Currently, APE trades at a price of $15.65, with a market cap of over $4.35 billion. In the past 24-hours, it has climbed with a 24.85% hike but met a slight dip of 0.54% in the past one hour.
Notably, on March 17, 2022, APE secured its all-time high of $27.95. Moreso, if any further surges happen for the coin, it is expected to meet its previous ATH with a quick climb. Also, following its ATH, on the next day, APE has signaled green at a price of $17.95. If APE is expected to go high, at first, it would probably cross this price and reach its ATH.
APE/USDT 1- day chart (source: TradingView)
However, APE’s trading chart shows a downward trend on March 19, following the $17.95 hike. This made the coin price go down to reach $11.9. From April 11 to April 14, APE tried to climb high but failed due to the downward movement of the global crypto market.
Since then, the coin price waved a red signal producing lower highs, until it started surging on April 19. This lucrative movement led to a price value surge today.
This technical movement of ApeCoin depicts that the momentum is rising and the future movements are expected to stimulate its price higher. More so, investors can expect a 22% rally for APE and tap for a price surge of more than $17.25, which is its current top rate.
Significantly, the recent uptrend for ApeCoin is due to the recent accumulation of whales having 100,000 to 1,000,000 APE tokens. Since March 28, these wallets have multiplied their holdings from 3.6% to 3.9%.
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Source: Cryptocurrency - investing.com
