ApeCoin has seen price swings since March, signaling market volatility.
Wintermute’s large APE movements have raised concerns of potential market manipulation.
Technical analysis points to a potential breakout, though ApeCoin appears to be overbought.
ApeCoin (APE) has experienced price fluctuations, raising concerns about potential market manipulation by crypto trading firm Wintermute. Data from Arkham reveals dramatic changes in APE’s asset balance, adding to the uncertainty.
Arkham’s balance history chart shows that APE’s asset value has fluctuated since March 2024. In early March, the asset balance was around $6 million, rising to around $12 million by early April.
However, this peak was followed by a sharp and steady decline, with the balance falling back to roughly $6 million by the end of May.
Source: Arkham
ApeCoin Price Action and Volatility
Crypto analyst Davie Satoshi weighed in on ApeCoin’s recent price movements. According to Satoshi’s analysis, the launch of APECHAIN and related memecoins contributed to the recent price bump. He identified a “wave 3” bullish pattern with a strong green candle, which indicates short-term pric…
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