ApeCoin has experienced a remarkable surge in price, skyrocketing by 100% after the launch of the ApeChain bridge, marking a significant turnaround from a year of decline. However, investors are now wondering what the future holds for APE crypto and whether there are better investment opportunities than the Bored Ape Yacht Club (BAYC).
The BAYC community has faced challenging times, with floor prices dropping significantly since 2021 and the Apecoin, which is linked to BAYC, disappointing holders for most of the past year.
But over the weekend, there was a seismic shift in the APE crypto landscape as the Yuga Labs team announced the highly anticipated launch of the “Bridge,” along with the activation of ApeChain. ApeChain is a layer-2 scaling solution that focuses on facilitating NFT development, minting, trading, and dApps. The bridge allows for the transfer of assets, including meme coins, to the ApeChain platform, which initially connects with Ethereum and Arbitrum.
One of the most exciting developments is the introduction of native yields for APE staking, which will be paid out in Apecoin. This move provides a much-needed utility for APE, as it validates the Ethereum-compatible ApeChain.
As for the APE price analysis, Apecoin is currently trading at $1.47, with a 24-hour change of -0.67%. After a weekend surge of 135%, Apecoin is now consolidating its gains above the $1.44 price level. The moving averages indicate a bullish trend, with the 20DMA ascending rapidly and the potential for a bullish golden cross formation by the end of the week. However, the RSI needs to cool down from severely overbought levels before a significant price action can occur.
In terms of price targets, APE is aiming for consolidation with a ceiling at $1.8, limiting the upside potential to around 18%. On the downside, there is substantial risk if APE bulls lose control, with a decline likely to find support around the psychological price level of $1, just above the 200DMA, which represents a possible -33% decrease. Therefore, the risk-reward ratio for Apecoin in the short term is 0.53, making it a less attractive entry point for FOMO traders.
While Apecoin’s growth is impressive, another meme coin project called Pepe Unchained has gained significant attention in the market recently. With a market cap of $21.3 million, Pepe Unchained has emerged as the preferred choice among meme coin traders, offering more serious utility compared to other meme coins. The project is launching a high-speed Layer-2 blockchain specifically designed for meme coin development, enabling rapid deployment and growth. Additionally, the Pepe Unchained development team has established a grant fund to support developers in the meme coin space, further fueling the project’s growth.
Whale purchases are becoming common for Pepe Unchained, with large investors acquiring millions of $PEPU tokens. The project has been highlighted by top analysts as the next big thing in the space.
To participate in the Pepe Unchained presale, investors can use Ethereum, USDT, or a VISA card, and they will have the opportunity to stake their presale tokens for an impressive 105% APY.
It’s important to note that investing in crypto carries significant risks, and this article is for informational purposes only and should not be considered investment advice.