Read this article on Is Apecoin A Good Investment to know if APEcoin is a good investment option for the feature.
APEcoin was launched last week. It was listed on the two major exchanges immediately after its launch in the United Kingdom and the United States. Did you know that APEcoin is marketed as a separate token to simplify trading?
Mutant Ape, BAYC, and MAYC hold zero obligation for APECoin? Hence, the prospects of APEcoin aren’t attractive and similar to any other new NFTs launched. So, let us check about Is Apecoin A Good Investment?
Market trends last week:
There was an increase in the price of the top 100 NFTs in the market last week. It included a Bitcoin price increase of 1.8% on 18th March and an overall 7% weekly gain. Ether price increased by 2.5% on the same day, with an overall 14% weekly gain. There was a surge of 6.6% in top cryptocurrencies last week.
APEcoin benefited due to the general increase in the prices of cryptocurrencies. Due to the increase in NFT prices, investors purchased APEcoin. Furthermost, several factors influenced the purchase of APEcoin. But first, let us check the APEcoin forecast below.
Ape Coin Price Prediction 2022:
- Current Price: $10.74
- 2022-04-01: +$0.00422
- 2022-05-01: +$0.0270
- 2022-06-01: +$0.004051
- 2022-07-01: +$0.00172
- 2022-08-01: +$0.00182
- 2022-09-01: +$0.00194
- 2022-10-01: +$0.00178
- 2022-11-01: +$0.00166
- 2022-12-01: +$0.00154
APEcoin price forecasts suggested an average increase of $0.002 per annum though it is in high demand and you can buy it at a low price. Therefore, APEcoin is a prospective investment option only in the LONG RUN.
Factors for the high demand for APEcoin:
Stakeholders of Bored Ape Yacht Club (BAYC) received airdrops for APEcoin last week. Before the airdrops had commenced, the APEcoin price was approximately $27. After the airdrops, the price of APEcoin fell to approximate $7. Is Apecoin A Good Investment at that point in time? Yes, It was an excellent opportunity for investors to buy APEcoin at a low price.
The increase in the interest rates by the US Federal Reserve did not influence the NFT market. Parallelly, Yuga Labs announced APEcoin as the primary token for all its new products. Additionally, Yuga Labs had acquired Meebits NFT and CryptoPunks NFT. Due to the expansion of Yuga Labs in the Crypto market, investors were keen on acquiring APEcoin.
The expansion in the Multiverse and NFTs supported by Meta, Microsoft, HSBC, AXP and Terra, giving rise to the question Is Apecoin A Good Investment? Therefore, MonkeyFirm NFT will be using the services of APEcoin in its play-to-earn gaming projects, and APEcoin will also be used in the Benji Bananas Game to earn special tokens and game pass.
Conclusion:
Above mentioned factors helped APEcoin to be listed among the top 40 NFT with reference to market cap, helped achieve a market capitalization of more than $3.8 billion, increased demand by more than 51%, and increased in price by 1,305%. Investors’ confidence increased as Yuga Labs established APEcoin as an independent NFT. APEcoin collaborated with different Multiverse and ecosystems.
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