- BAYC and related NFTs increased in value when Yuga Labs announced the release of its latest game.
- APECoin did not react positively after the announcement, but it could be a long-term winner.
On January 12, when manufacturer Yuga Labs announced its plans for Dookey Dash, Bored Ape Yacht Club sales [BAYC] NFT and related projects like Mutant Ape Yacht Club [MAYC] and Bored Ape Kennel Club (BAKC) collections it shot itself.
Apes, stretch your eyeballs and warm up your scrolling muscles – lots of new information coming up next week. Short version: monkey ass, Sewer Pass on Jan 17, skill based mint starts on Jan 18, new energy sources. Explanatory video coming soon, more in https://t.co/h8JXeLkC57and the ? pic.twitter.com/bF1h2qAXrM
— Bored Ape Yacht Club (@BoredApeYC) January 12, 2023
Read APECoin [APE] Price prediction 2023-24
Dookey Dash is a skill-based online game required by NFT with as-yet-unannounced prizes for top scorers. The object of the game is to collect as many goods as possible while traveling as far as possible through a cartoony sewer landscape without dying.
A Yuga Labs “Sewer Pass” NFT mint will be available soon, and BAYC or MAYC NFT holders can claim it for free. Until the game closes on February 15, Sewer Pass holders can play Dookey Dash an unlimited number of times.
To include people from beyond the Bored Ape ecology, sewer passes will be available for the secondary market starting February 15.
APE reacts negatively but remains bullish
However, the ecosystem token, APECoin [APE], did not seem enthusiastic about recent developments around BAYC and associated NFTs. APE had been on the rise and had risen in value by 32% prior to the January 12 announcement.
However, as of this writing, it has lost around 5% of its recovery, as the daily period chart shows. There were also indications that a price adjustment would cause the price to fall much further.
The Directional Movement Index (DMI) indicated that the asset was still in a strong uptrend despite the price slide. The positive ID and signal line were greater than 20 when the indication was observed.
Additionally, the RSI line indicated a strong uptrend above 75. However, the position of the RSI line also pointed to a possible price correction as APE was in the overbought region.
How much are 1, 10 or 100 APE worth today?
Could APECoin be playing the long game?
If the recently launched game is a success, APECoin could win in the long run. Once Sewer Pass NFT is released, APE could be used as a medium of exchange, as well as being the “currency” of the Sewer Pass ecosystem. As a result, its demand and price could increase.
source: ambcrypto.com