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- The ApeCoin crypto price is in a strong downtrend.
- The APE crypto chart shows a sharp spike in trading volume over the last 24 hours.
ApeCoin is a token for the APE ecosystem, which supports web3 culture through art, gaming, entertainment, and events. ApeCoin is used for governance, spending, access, and incentives. ApeCoin was created by the ApeCoin DAO, with support from the Ape Foundation and Yuga Labs, the makers of Bored Ape Yacht Club NFTs.
The ApeCoin crypto has a fully diluted market cap of $1.382 Billion and the market cap has declined by 3.96% in the last 24 hours. Despite this, the current market cap ranking of the crypto is #107 as per CoinMarketCap.
The market cap value of the ApeCoin crypto is $509.527 Million and the trading volume of the crypto has declined by 42.8% in the last 24 hours. This further has resulted in a traded volume of $71.572 Million.
The volume/market cap ratio of ApeCoin is 17.68% and the circulating supply of the crypto is 368.593 Million APE and the total supply of the crypto is 1.0 Billion APE. The max supply of the crypto is similar to its total supply.
ApeCoin Derivatives Analysis
The APE crypto derivatives are trading with a long/short ratio of 0.9646 and the open interest of the crypto has declined by 4.95%. Furthermore, the trading volume of the crypto declined by 39.3% as per Coinglass.
The derivatives data show dominance of sellers in the market as the crypto has witnessed a huge long liquidation of $538.87K and the short liquidation for the crypto values only $14.57K.
APE Crypto Technical Analysis
Consecutive lower-low and lower-high patterns can be seen on the charts leading to a consistent decline in the trading price. Based on the most recent scenario, the crypto is forming bearish candlesticks on the chart indicating sellers dominance in the crypto.
APE/USD Chart by TradingView
Following a death cross of the 20, 50 and 200-Day EMAs on the daily chart, the price of the crypto is now below the EMAs, indicating a strong downtrend.
The MACD is also strongly bearish on the chart, which is a sell signal. The MACD and the signal line are trading in a death cross below the zero level.
The RSI has declined below the 50-level and the 14-day SMA line is also following the RSI. The following behavior of the indicator shows bearish momentum in the crypto price.
Summary
The APE token price is in a severe downtrend, with no signs of reversal. The derivatives data show more selling pressure than buying demand. The technical indicators are all bearish, suggesting more decline in price ahead.
Disclaimer
This article is for informational purposes only and does not provide any financial, investment, or other advice. The author or any people mentioned in this article are not responsible for any financial loss that may occur from investing in or trading. Please do your research before making any financial decisions.
