- The derivative trading volume of ApeCoin has declined by 29.46%.
- APE has a huge maximum supply of 1.0 Billion APE.
ApeCoin is a governance token for the APE Ecosystem which is a community-driven project inspired by the Bored Ape Yacht Club. ApeCoin holders can vote on how to use the Ecosystem Fund and a unique NFT gifted by Yuga Labs. ApeCoin also grants access to exclusive games and services within the Ecosystem. ApeCoin is an ERC-20 token on Ethereum.
ApeCoin has a volume/market cap ratio of 0.0765. It follows a market cap rank of #88 as per CoinGecko. The current market cap of crypto is $600.201 Million, leading to an advance of 1.53% in the last 24 hours. This results in a market cap dominance of 0.039%.
The derivative data of the APE crypto are highly disappointing. The derivative trading volume of APE has declined by 29.46%, resulting in $147.17 Million. This crypto’s long/short ratio is 0.947. This indicates the losing interest of traders in the community.
The trading volume of the APE crypto declined by 25% in the last 24 hours. This has resulted in a traded volume of $40.402 Million for the spot. The APE crypto is trading with 36.86% of the total supply.
ApeCoin’s Airdrop Distribution
The total number of tokens reserved for the airdrop of APE is 150 Million and the share of the supply airdropped is 15M. This is followed by a total of 15,757 eligible addresses. Moreover, 97.57% of addresses have claimed a total of 146.8 Million tokens.
Price vs Volatility of ApeCoin
The price of the APE crypto can be seen advancing slowly on the charts while the volatility chart of the crypto is witnessing a consistent decline. This shows that the returns of ApeCoin might be less fluctuating as compared to other cryptos.
APE Crypto Technical Analysis
The APE crypto is trading inside a rising wedge pattern on the daily charts. The APE price has also declined from the higher levels losing its value by more than 93% from its all-time high price.Â
APE/USD Chart by TradingView.com
The crypto price on the daily charts is making a higher high price pattern following a death cross of the 50-day and the 200-day EMA. Despite this, the APE crypto price has broken above the 20-day and the 50-day EMA.Â
The MACD indicator on the other hand represents uncertainty as the MACD and the signal line overlap each other. The MACD is forming bullish volume blocks on the indicator which denotes the presence of buyers’ dominance in the crypto price.
Conclusion
APE has shown a positive trend, breaking above a rising wedge pattern and gaining more than 93% since then. APE is also supported by the bullish crossover of the EMAs and the low token transfer frequency. Therefore, the crypto price might continue to advance to higher levels.
Technical Levels
- Support levels: $1.0 and $1.300
- Resistance levels: $2.100 and $4.50
Disclaimer
The views and opinions stated by the author or any other person named in this article, are for informational purposes only and do not constitute financial, investment, or other advice. Investing in or trading crypto or stocks comes with a risk of financial loss.
