ApeCoin Up 66% – What’s Stopping APE From Reaching $1.80?

  • APE has captured the attention of both investors and enthusiasts, breathing new life into this Token.

  • However, pressure could increase if this momentum weakens.

ApeCoin [APE] is shaking up the crypto market, surging over 60% in the past 24 hours and returning to the glory of the top 100 crypto list.

With an impressive 66% price increase, excitement has gripped the investor community. This craze comes after the long-awaited bridge launch, raising curiosity about how high APE can reach in the coming days.

ApeCoin Returns to the Spotlight

ApeCoin has seen a huge resurgence, doubling its value in just two days. This comes after its long-awaited mainnet launch.

After a challenging 2022 and a massive 70% drop in 2024 – hitting a new low of $0.48 in August – this news has renewed interest in the Token, bringing it back into the spotlight.

Alongside Apechain, the launch of Ape Express, a streamlined platform for creating memecoins, attracted over 137K unique visitors and generated significant trading volume in just 24 hours.

APE P/L

Source: IntoTheBlock

As ApeCoin gains traction, now closing near its early April price of $1.80, it appears that the six-month decline has paid off, putting many shareholders in the black and rewarding their patience.

Specifically, around 22K APE wallets have changed hands, holding a staggering total of 179 million Tokens.

Certainly, recent developments have not only reaffirmed the confidence of current Holders but also attracted a new wave of investors eager to get their hands on their shares before FOMO sets in.

With new interest emerging, ApeCoin is set for a lively comeback, and the excitement around it is everywhere!

Everyone is getting in on the APE craze

The APE fever is spreading rapidly, attracting the attention of both investors and fans.

After bottoming out in August, which saw whale holdings drop to 790 million tokens, a notable reversal has taken place.

In just two months, these holdings have skyrocketed to an impressive 805 million, reflecting the incredible growth in interest.

market sentiment

Source: Santiment

The total number of Holders also skyrocketed, surpassing the admirable milestone of 150K.

Overall, the future looks bright, as the excitement around APE not only attracts new investors and whales but also encourages those in net-loss positions to hang on.

However, it is important to keep an eye on these positions. If these holders decide to sell, the rally could be halted, and a recovery would be inevitable.

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