**ApeCoin Soars Amid ApeChain Launch**
ApeCoin (APE) has experienced a significant price surge, climbing 130% over the past four days. The excitement stems from the launch of ApeChain, a new blockchain network from Yuga Labs. On Oct. 21, APE hit a six-month high of $1.75, before settling at $1.53, marking a 125% increase over the past week.
Key factors driving this bullish trend include:
- Launch of ApeChain, a layer-3 blockchain enabling cross-chain transfers.
- Integration of LayerZero’s Omnichain Fungible Token standard, enhancing APE’s utility.
Investors are showing strong interest, with trading volumes jumping over 250%. However, with the relative strength index at 88, APE might face a correction soon. Keep an eye on the $1.65 level for potential liquidations.