The NFT industry has been on a boom for the past few years, and there is no stopping it anytime soon. The NFT project Bored Ape Yacht Club has been one of the most successful in the blockchain industry. On 16 March, Yuga Labs announced the launch of ApeCoin with a Twitter Inc (NYSE:TWTR) thread, a new Twitter account, and a website. The token will be used for culture, gaming, and commerce to build out the Web3 efforts for the Company.
A total of 150 million tokens were made claimable for Bored Ape Yacht Club (BAYC) and Mutant Ape Yacht Club holders from 17 March 2022. BAYC has a vast collection of thousands of eight-styled NFTs. These Ape NFTs created a storm on the internet, so we saw different Ape NFTs with different costumes and facial expressions. In addition, many believe that Apecoin can also be used in various crypto games. And for that reason, its value may increase even more.
ApeCoin (APE) token surged as much as 30.17% on 20 April 2022 to an all-time high of $17.17. Over the past week before its launch, the token’s price is up more than 32% and 62% since its launch, according to CoinMarketCap.
Be forewarned, though, that there’s one aping ApeCoin that goes by the name of APECoindev (https://www.apecoin.dev). These are two different entities and require serious monitoring.
Today’s ApeCoin price is $5.21 USD with a 24-hour trading volume of $274,609,501. ApeCoin is up 3.00% in the last 24 hours. The current CoinMarketCap ranking is #36, with a live market cap of $1,599,670,245. It has a circulating supply of 306,875,000 APE coins and a max. supply of 1,000,000,000 APE coins.
Let’s consider whether you should consider buying 100 APE – as investors are doing – as part of your portfolio after going through this ApeCoin price prediction.
Read also: Bitcoin, Binance Coin, Elrond, and ApeCoin Daily Price Analyses – 15 June Morning Price Prediction
What is ApeCoin?
ApeCoin (APE) is a digital asset that allows users to send and receive payments in a secure and efficient way. ApeCoin is built on blockchain technology and utilizes a peer-to-peer network to facilitate transactions. APE is utilized in the ApeEcosystem to encourage a decentralized community that advances Web3. ApeCoin is a cryptocurrency that was created and launched by ApeCoin DAO, a decentralized autonomous organization dedicated to promoting the coin in the future years. Hosted on the Ethereum blockchain, ApeCoin is an ERC-20 token meant for governance and utility.
The ApeCoin would be used as the primary currency within the Bored Ape Yacht Club ecosystem. The cryptocurrency would power all the transactions on the decentralized project, providing a more streamlined and efficient way to handle all the financial operations. Moreover, using blockchain technology would help ensure transparency and immutability of all transactions. The ApeCoin would also be used to reward the platform’s users for their participation and contribution.
Under the Ape Foundation, Yuga Labs purports to establish governance for the ecosystem as a decentralized autonomous organization (DAO). Apecoin token holders can have a say on the next ecosystem upgrades. Together with Ape Foundation, they will also be responsible for developing and adopting the Apecoin token.
How does ApeCoin Work?
The main aim of ApeCoin is to provide a more efficient way of handling payments and transactions. The ApeCoin utilizes blockchain technology to achieve this goal. Blockchain is a distributed ledger system that records and verifies transactions made in a network. The use of blockchain ensures transparency and immutability of all transactions.
The Bored Ape Yacht Club, long renowned for its satire and humor in trading circles, was the basis for ApeCoin, a cryptocurrency named after a well-known animal. The APE token is a governance mechanism in the APE ecosystem.APE powers the community that is cryptocurrency development at the forefront of web3E.
ApeCoin cryptocurrency holders can choose which path the ecosystem takes and whether ApeCoin DAO funds are spent in a particular way. APE tokens were distributed to the project’s participants, who will use them in the ApeCoin ecosystem to fund various activities.
Many people consider ApeCoin to be a meme token, if not an excessively hyped currency, because of its connection to the NFT fund. Some investors are firmly behind ApeCoin, while others believe its bubble will burst in weeks.
Team Behind ApeCoin
The ApeCoin team is composed of experienced professionals from various backgrounds. The team is led by Yuga Sato, who is the founder and CEO of ApeCoin. Other members of the team include Daisuke Tanaka, who is the CTO of ApeCoin, and Kenta Suzuki, who is the Head of Business Development.
A group advises the ApeCoin team of experienced individuals from the blockchain and cryptocurrency industry. These advisors include Vitalik Buterin, the founder of Ethereum, and Daico Takahashi, the co-founder of OmiseGO.
Utility of the ApeCoin Token
The ApeCoin token is an ERC-20 token that is meant for governance and utility. The main use of the ApeCoin token is to reward the users of the platform for their participation and contribution. The ApeCoin token is also used to pay for transaction fees in the ApeCoin network.
One of the reasons why ApeCoin is experiencing phenomenal growth is due to its DAO mechanism. DAO means decentralized autonomous organization where the project is not under an individual or entity’s leadership. Instead, the whole community derives it.
In other words, if you hold Apecoins, you can participate in ApeCoin’s community and get involved in all sorts of decisions being made. Due to this reason, you can now know what’s going on and what new things should be added to the network.
What Is The ApeCoin Foundation?
The ApeCoin Foundation is a decentralized autonomous organization responsible for developing and adopting the ApeCoin token. ApeCoin is a cryptocurrency that was created by the APE Foundation, which is responsible for its operation. It’s not like a regulator; it’s more of a foundation layer on which holders of ApeCoin in the ApeCoin DAO may build. The ApeCoin website says that the fund will be dispersed among an ecosystem fund (62 percent), Yuga Laboratories (16%), launch contributors (14%), and the founders of Bored Ape Yacht Club (8%).
Mission
The Foundation’s objective is to provide decentralized and community-led governance, and it aims to become more decentralized over time. It is in charge of the ApeCoin DAO’s decisions and is responsible for day-to-day management, accounting, project management, and other duties that ensure the DAO community’s ideas receive the support they require to come to reality.
The APE Foundation’s mission is to promote and protect the APE ecosystem in a fair and inclusive way. The ApeCoin Foundation’s primary objective is to utilize the Ecosystem Fund, which is governed by a multisig wallet, to pay its costs as directed by the ApeCoin DAO while providing an infrastructure for ApeCoin owners to collaborate via open and free governance procedures.
Vision
ApeCoin’s vision is to create a decentralized future where everyone has an equal say. The project aspires to build a global community of ApeCoin holders who can shape the future of the APE ecosystem.
The ApeCoin Foundation’s vision is to provide an infrastructure for ApeCoin owners to collaborate via open and free governance procedures.
ApeCoin also plans to use the APE ecosystem to create digital gaming, entertainment, and art.
The possibilities for blockchain’s impact on culture are so infinite that they can’t possibly all be anticipated yet
ApeCoin Team
ApeCoin Price History
When Yuga Labs debuted the Bored Ape and Mutant Ape NFT collections, they became the most popular NFT brand. Apecoin was founded by Yuga Labs to power the entire operation of their apps and services offered in order for them to be improved. APE price fell to a low of $6.48 within an hour, and it remained in a sideways range between that figure and $9.35 for the rest of the afternoon. Many investors were concerned by the huge gaps in APE’s value, with several centralized exchanges claiming that ApeCoin had dropped 80% in a few hours of its launch.
The ApeCoin team is aware of the project’s high risk and volatility, but they believe that the long-term potential rewards justify these risks. On the minute of the airdrop, Binance recorded a high of $28 on its one-minute chart, while Gate recorded an incredibly large $214.
In late March, VC powerhouses Andressen Horowitz led a funding round that cost Yugat $4 billion, bringing the company’s valuation to an astounding $4 billion. The coin has recovered some market momentum and is currently priced at $12.80.
Later, when Yuga Labs said it was working on an “Otherside metaverse,” there were a lot of positive developments. On 28 April, the price was $26.91, setting a new all-time high. Since then, however, it has dropped significantly, and the current price is $3.88 with a 24-hour trading volume of $385,646,11.
ApeCoin has a current market cap of around $1,163,243,712 and is ranked the 41st largest by that metric. ApeCoin has also surpassed MANA, SAND, and AXS to become the most valuable Metaverse token.
Gemini announced the APE staking after the ATH last April, creating a lot of buzz around its complementary BAYC projects, such as Yuga Labs’ pending Metaverse launch that will be accessible by other exclusive, high-priced NFT projects including CryptoPunks and World of Women.
According to a Twitter post by Coinbase, the crypto exchange will be bringing the Bored Ape Yacht Club brand, alongside the recently launched ApeCoin, to the big screen, with a chance for the community to be part of the Degen Trilogy. The combination of this news is the most likely catalyst for APE’s positive pricing momentum.
Apecoin Technical Analysis
Apecoin has had high volatility, with its price oscillating between oversold and overbought territory. This factor makes it challenging to forecast Apecoin’s performance. A further drop in prices will send Apecoin to oversold territory, and the MACD histograms indicate decreasing price momentum to the downside. The William Alligator trendlines show a bearish signal.
Apecoin Price Predictions by Authority Sites
Walletinvestor
The site uses machine learning and artificial intelligence (AI) to provide the Apecoin forecast. The AI rates Apecoin’s historical data index C and comments that it would make an “awesome” one-year investment. The Apecoin price will rise by 134.4% to reach $11.784 in August 2023. The site indicates a bearish market price prediction for the coming two weeks, and Apecoin will fall to $4.651 at the end of the period. The positive trend will continue in 2024 at 265.5% ROI and rise to 398.8% in 2025. The average forecast price will rise further in 2026 at 530.7% and 662.6% in 2027.
TradingBeasts
Trading Beast analyzes historical data using various tools to give an Apecoin price forecast in the cryptocurrency market. Apecoin’s average trading price in the crypto market will rise from its current price to $6.71439 in September. It will then rise gradually towards the end of the year, reaching $8.41269 in December. In 2023 the Apecoin market status will be dominated by bulls, pushing prices from $9.26362 in January to $15.43370 in December. The trend will continue in 2024, and the average trading price will rise from $15.84859 in January to $19.19351 in December. In 2025 Apecoin will have a mixed trend, with the average trading value ranging from $19.45189 to $21.73435.
Digital coin price
According to the Digital coin price forecast system, Apecoin’s current price is down over 75% this year and will trade sideways for the second half of 2022. The average trading price for September is $6.71, reaching the highest in November at $7.35. In 2023, Apecoin will sell at an average price of $7.20. It will reach a maximum price of $7.93 and a minimum price of $6.63. In 2025, Apecoin will sell at an average price of $9.55. It will reach a maximum price of $10.52 and a minimum price of $8.62. In 2030, Apecoin will sell at an average price of $22.94. It will reach a maximum price of $23.84 and a min price of $22.10.
Cryptopolitan
Apecoin Price Prediction 2022
Apecoin price prediction for 2022 is $8.50. The Magic Eden NFT marketplace proposed a free BAYC marketplace in recent updates.
In an interview with Altcoin daily, Mark Cuban mentioned Apecoin as one of his Low Cap holdings. Apecoin is expected to trade higher this month and be less volatile for the remainder of the year.
Apecoin Price Prediction 2023
The Apecoin price prediction for 2023 is $12.48. The Ethereum merger in 2023 will positively impact the Apecoin ecosystem. Apecoin is an ERC20, and the upgrade will reduce downtime and lower gas fees for the ecosystem.
Apecoin will reach a maximum value of $12.05 and a minimum value of $14.25.
Apecoin Price Prediction 2024
The Apecoin APE price prediction for 2024 is $18.13. The Otherside metaverse should be up and running during this period.
The BAYC community is anticipating the Metaverse launch. Apecoin will be the platform’s utility token, so its demand will increase. Apecoin will reach its highest price at $20.98 and lowest at $17.63.
Apecoin Price Prediction 2025
The Apecoin APE price prediction for 2025 is $26.34. The APE ecosystem is rapidly growing, and the ape holders have been calling to transition to a dedicated blockchain. A dedicated blockchain network will increase the platform’s efficacy, allowing developers to create smart contracts and decentralized apps. Apecoin will reach its highest price at $30.29 and lowest at $25.61.
Apecoin Price Prediction 2026
Apecoin APE price prediction for 2026 is $40.56. Apecoin has a fixed supply of 1 billion tokens. As more meaningful exchanges accept Ape, the number of coins locked will keep increasing. The dropping supply protects the community from inflation and a bright future ahead. Apecoin’s future price will range from $39.50 to $44.41.
Apecoin Price Prediction 2027
Apecoin APE price prediction for 2027 is $58.93. Apecoin is a governance token that enables individuals to make and vote proposals for the ecosystem through a DAO. Ape powers its community by involvement in platform decisions. Apecoin will trade between $57.31 and $58.93 for the year in the cryptocurrency market.
Apecoin Price Prediction 2028
Apecoin APE price prediction for 2028 is $83.17. The growing ecosystem will be in tandem with its market capitalization.
The Apecoin utility in crypto, blockchain games, and NFT marketplaces will increase its value. Apecoin digital assets will reach a maximum level of $80.22 and a minimum of $103.02.
Apecoin Price Prediction 2029
Apecoin APE price prediction for 2029 is $118.50. The Bored Apes Yacht Club is also growing and finding ways to accommodate more people into its ecosystem. BAYC will utilize Apecoin in future endeavors, such as incentivizing the community and building new applications. Apecoin will reach a maximum of $141.06 and a minimum of $115.17.
Apecoin Price Prediction 2030
The Apecoin APE price prediction for 2030 is $170.50. Apecoin will eventually cross the $150 mark in 2030. The utility built on the bullish run will enable Ape to reach this mark. The applications will cut across decentralized and traditional finance. The Apecoin price forecast suggests it will trade between $165.76 and $198.74 for the year.
Apecoin Price Prediction 2031
Apecoin’s price prediction for 2031 is $247.74. The continuous growth will depend on future market crashes, crypto regulations, and bear markets. These factors derail Apecoin’s future growth; this is not investment advice. The Apecoin prediction suggests it will trade between $239.21 and $279.90 for the year.
Apecoin Price Predictions by Industry Influencers
Crypto Vault update on Apecoin digital asset suggests continued Apecoin volatility in the future with a possible price target of $55 in 2025.
Conclusion
The Apecoin platform is making headlines with new partnerships and endorsements from crypto influencers like Mark Cuban and Snoop Dogg. The growing fame has secured Apecoin’s dominant position as a market leader in the NFT marketplace. The proposed partnership with Solana’s Magic Eden will increase the utility of the BAYC ecosystem to its community.
Bulls will be in control of the market and will be expected to drive the price upward in 2031. Technical analysis suggests that the price might reach a maximum of $190.35 by the end of 2031 with a minimum of $155.72 during the year. The token aims to empower and incentivize decentralized community building at the forefront of web3.
The ApeCoin has a growing community and an active DAO that ensures that the ecosystem serves the best needs of the community. The release of the Otherside metaverse will be important news and is highly anticipated, and the Ape coin is likely to turn bullish.
Apecoin will cross the $10 mark in 2023 and remain bullish from 2023 up to 2031.