#ApeCoin (APE) has hit the headlines due to a dramatic price surge. Over the past 24 hours, APE’s value has increased by more than 85%, approaching a nearly 100% rise. This price spike is driven by several key developments that have reshaped the entire ApeCoin ecosystem. So, what fueled this rapid growth?
ApeCoin Updates: What’s Driving the Price Surge?
1. ApeCoin Becomes the Native Gas Token on ApeChain
One of the main reasons for the price increase is ApeCoin’s transition to ApeChain, where APE is now used as the native gas token. This means that APE is utilized for transaction fees within the network, reducing reliance on Ethereum while lowering transaction costs for users in the Yuga Labs ecosystem.
APE also retains its crucial role in ApeCoin DAO, where holders can vote on the project’s future developments. Additionally, it’s used as a payment method for Yuga Labs products and in real-world purchases, leading to greater demand for the token.
2. Omnichain Fungible Token: Enhanced Interoperability
By adopting the LayerZero Omnichain Fungible Token (OFT) standard, APE has become easily transferable across various blockchains, such as ApeChain, Ethereum, and Arbitrum. This interoperability has attracted new users and increased the versatility of ApeCoin.
The ability to seamlessly move APE between blockchains has led to a significant rise in trading activity. In the past 24 hours, APE’s trading volume has surged by an astounding 3,968.64% to reach $1.25 billion.
3. Native Yield Mechanism: Passive Earnings for APE Holders
Collaboration with DecentXYZ has introduced a new native yield mechanism, allowing APE holders to automatically earn yield. Users only need to hold their tokens on ApeChain, and their returns are automatically compounded, providing a major advantage for investors.
This feature has caught the attention of long-term investors looking for an easy way to passively grow their holdings, leading to increased demand for APE.
4. Bridging ApeCoin: Seamless Transfers to ApeChain
The ApeChain bridge is experiencing high traffic as users transfer their APE from other blockchains to take advantage of new features like native yield and interoperability. These transfers are creating additional buying pressure, further driving APE’s price upward.
With growing interest in ApeCoin bridging and the upcoming launch of features like Toptrader_xyz, it’s expected that market activity for APE will continue to grow.
ApeCoin Price Analysis and Prediction
1. APE Price Analysis
ApeCoin is currently trading at $1.37, and its price surge has been remarkable:
1-day performance: +85.43%
7-day performance: +89.52%
1-month performance: +74.14%
APE has also risen +185.37% from its all-time low of $0.4826, confirming its upward momentum. The market capitalization now stands at $1.03 billion, marking an 85.39% increase in just one day.
2. APE Technical Indicators: “STRONG BUY”
Technical indicators show strong buy signals:
Relative Strength Index (RSI): 85.47 – indicates overbought territory but remains bullish.
MACD: +0.0558 – signals a buy.
Hull Moving Average: 0.9749 – also signals a buy.
All technical indicators support the ongoing bullish trend.
3. APE Price Prediction
With the launch of ApeChain, LayerZero omnichain integration, and the introduction of native yield, ApeCoin is poised for further growth. Technical indicators show strong buy signals, and analysts expect APE’s price to continue climbing in the coming days, especially as more users and features are added to ApeChain.
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