ApeCoin (APE) is another ape-based digital asset that has been garnering popularity recently. Crypto has turned out to be a crypto investment that is being adopted by more people after the Ape Ecosystem gained their trust. However, it dropped drastically after the initial surge. Therefore, if you are also someone who is interested in it and is confused regarding whether to invest in it or not then check out the ApeCoin price prediction mentioned below for your reference.
What Is ApeCoin?
The ApeCoin CoinMarketCap page defines it as:
“ApeCoin is an ERC-20 governance and utility token used within the APE Ecosystem to empower and incentivize a decentralized community building at the forefront of web3.
ApeCoin holders govern themselves via the decentralized governance framework controlling the ApeCoin DAO and vote on how the ApeCoin DAO Ecosystem Fund should be used. The APE Foundation administers proposals agreed upon by ApeCoin holders.”
It is a decentralized blockchain project that has been inspired by the Bored Ape Yacht Club project by Yuga Labs. It was developed by the Ape Ecosystem (gaining support from the APE Foundation) for use in the indigenous operations of the network. The ApeCoin CoinMarketCap page further mentions that:
“The ApeCoin DAO aims to build and maintain the APE Ecosystem in a fair and inclusive way, providing an infrastructure for ApeCoin holders to collaborate through open and permissionless governance processes.
An administrative council within the APE Foundation (the “Board”), will carry out the decisions of ApeCoin DAO members. The Board is responsible for the day-to-day administration, bookkeeping, project management, and other tasks that ensure the Community’s ideas have the support they need to become a reality. ApeCoin DAO members vote on Board members.”
ApeCoin Price History
The ApeCoin price was up by 5.87% and traded at $5.83 at the time of writing this article. The market capitalization of the crypto stood at $1.7 billion, up by 5.90%. However, the 24-hour trade volume was down slightly by 4.98% and was at $392.28 million. The day’s high was $5.87, which was considerably below the 1-month high of $6.78. This might have been because of the crypto crash sessions that took place prior to press time.
The 3-month data from the ApeCoin CoinMarketCap page shows that the crypto peaked at about $7.56 on August 5, 2022. Thereafter, it continuously declined and reached below the $4.50 mark due to repeated ‘red’ sessions. However, it did bounce back to a level above the $5.50 mark, which was recorded at the time of drafting this article.
ApeCoin was launched on March 17, 2022, as it started trading at a price of $8.08 and then skyrocketed to above $14 in just a day. The crypto peaked at $39.40 on the day it was launched and then experienced high volatility as it swung back and forth in price ranging between $8 and $14 after peaking at over $39. Later, on April 28, 2022, it closed at $23.62, which is its highest closing price to date. Then it fell prey to the crypto winter it seems since it lost immense value. The ApeCoin Reddit community gained popularity from it before it succumbed to the bearish trend.
It can be rightly said that everyone who invested at its peak time and even before it lost over 50% of their total investments as the coin is trading below its first-day closing price. In addition, the daily trade volume that even exceeded the $2 billion mark during the peak time then reduced to $200 million to $400 million. Therefore, it can be known that the demand for this crypto has reduced after it started crashing. However, the price prediction rating provided below does have an optimistic approach.
ApeCoin Price Prediction Analysis 2022-2031
The price forecast for ApeCoin from 2022 to 2031 has been mentioned in brief below. The estimations have been curated on the basis of price history and trends that led to distinct price actions in recent times. This has been based on the crypto fundamental analysis principle that historical price trends do affect future ones. Therefore, these predictions might not be 100% accurate but surely can be considered for reference.
- ApeCoin Price Prediction For 2022: By the end of 2022 it is expected that the APE crypto will reach a price of $8.50 (average rating). The minimum estimation is $8.21 whereas the maximum rating is pegged at $9.18. Prior to that, in November this year, it is estimated to increase to about $8.85 (which might drop in December as the forecast indicates). An ApeCoin Reddit post also mentions a similar estimation.
- ApeCoin Price Prediction For 2023: Based on the estimations of previous years, the estimation for the year 2023 mentions that the token would trade at a price of $12.48. The minimum forecast is $12.05 while the maximum rating is pinned at $14.25.
- ApeCoin Price Prediction For 2024: The estimation for the year 2024 suggests that the APE crypto would trade at a price of $18.13. The minimum expected price is $17.63 while the maximum price is pinned at $20.98.
- ApeCoin Price Prediction For 2025: The prediction for the year 2025 mentions that the token would trade at a price of $26.34. The ApeCoin price prediction 2025 states the minimum forecast to be $25.61 while the maximum rating is pinned at $30.29.
- ApeCoin Price Prediction For 2026: The forecast for the year 2026 mentions that the token would trade at a price of $40.56. The minimum forecast is $39.50 while the maximum rating is pinned at $44.41.
6. ApeCoin Price Prediction For 2027: The estimation for the year 2027 mentions that the token would trade at a price of $58.93. The minimum forecast is $57.31 while the maximum price rating is pegged at $67.56.
7. ApeCoin Price Prediction For 2028: The prediction for the year 2028 indicates that the APE crypto would trade at a price of $83.17. The minimum forecast is $80.22 while the maximum price is expected to reach $103.02.
8. ApeCoin Price Prediction For 2029: The forecast for the year 2029 indicates that the coin would trade at a price of $118.50. The minimum forecast is $115.17 while the maximum price is expected to reach $141.06.
9. ApeCoin Price Prediction For 2030: The forecast for the year 2030 suggests that the crypto would trade at a price of $170.50. The ApeCoin price prediction 2030 minimum rating is set at $165.76 while the maximum price estimation is pinned at $198.74.
10. ApeCoin Price Prediction For 2031: The estimation for the year 2030 indicates that the crypto would trade at a price of $170.50. The minimum rating is $165.76 while the maximum price estimation is pinned at $198.74.
The ApeCoin price prediction mentioned above is optimistic therefore the ones who have been losing hope in this crypto can be relieved for a while. Moreover, the coin had been gaining at the time of drafting this article which is another positive sign. However, it is recommended that you conduct your own research on it before making a decision.
Refer to the technical analysis by TradingView for further assistance on the matter. At the time of writing, the metrics available on the website suggested a ‘buy’ with 10 indicators supporting that in the ‘Summary’ section. However, when you decide to invest, do check the numbers then for making an optimum crypto investment in the APE token.