The price of ApeCoin is trading sharply positive during the European session after rising by around 17% over the previous 24 hours. The ApeCoin decentralised autonomous organisation (DAO), a community-driven project established to direct the growth and development of the Bored Ape ecosystem, uses APE as its native currency.
The ApeCoin community is voting on a number of ideas to improve the token’s usability as the first token unlock draws near.
Following the debut in March, holders of the Bored Ape NFT lineup got the tokens via an airdrop. The ApeCoin Decentralized Autonomous Organization (DAO) has taken steps to establish a decentralised NFT market powered by APE.
ApeCoin Price & Tokenomics
Over the past 24 hours, ApeCoin has climbed by about 17%. With a live market cap of $1,694,029,728 at this time, CoinMarketCap is ranked #34 overall. APE coins have a maximum quantity of 1,000,000,000 and are currently in circulation in numbers of 306,875,000.
The price of ApeCoin is $5.52 at the moment, and its 24-hour trading volume is $435,475,762. The APE/USD pair began trading at $4.6 and traded between $4.66 and $5.72 during the day.
Community’s Proposals
At the time of publication, all previously submitted suggestions have been adopted. You might recall that three businesses made recommendations for developing a market for the Bored Ape Yacht Club.
If permitted, Magic Eden will establish an exchange where owners of ApeCoin can trade all ApeCoin DAO NFTs, such as Bored Apes, Mutant Apes, Bored Kennels, and Otherdeeds. Recent findings, however, show that the MagicEden idea is failing. At the time this article was written, the APE community had decisively rejected the idea; only 34.54% of voters had supported it, while 65.46% had opposed it. The plan is still up for vote until September 22, though.
The marketplace cost in this proposal is set at 0.5% for listings in ETH whereas it is only set at 0.25% for listings in APE. The community is getting more value, and a portion of the fees go back to the people who started it. The ApeCoin DAO should develop into a community-run marketplace, claims the proposal’s abstract.
Increased APE adoption through APE listings, more visitors to the ApeCoin DAO (apecoin.com), and lower costs for community members could all result from the development of an APE-specific marketplace with engaging user experiences. However, this market will only remain viable if its costs are reasonable compared to those of competitors like X2Y2. ApeCoin Price Prediction: Triangle Pattern in Play
The APE/USD pair has climbed to trade near $5.50 on a daily timeframe, just below a double top resistance level of $5.80. A symmetrical triangular pattern, which can often break out on either side of the market, has developed on the APE/USD pair. If demand picks up, the $5.81 level may break upward, exposing APE to resistance levels of $6.50 or $7.65. The next significant resistance level is at $7.70 above this. A bearish breakout of the $4.20 support level, on the other hand, will probably expose APE to the $3.04 support region.
Near $5.75, the 50-day moving average (MA) will very definitely offer reliable resistance. A bullish trend in the price of the APE coin is indicated by leading technical indicators such the RSI and MACD, which are above 50 and 0. Investors are likely to monitor the $5.80 mark in case they decide to purchase above it or sell below it. Meme currencies are becoming more and more popular alongside APE; the Tamadoge presale is particularly hot. The Tamadoge price predictions for 2022, 2023, and 2025 can be found here.
News Summary:
- After DAO Vote, a Bullish Short-Term Price Prediction For Apecoin Is Expected
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