Bored Ape Yacht Club NFTs have undoubtedly entered the public’s consciousness, given the fact that many high-profile names now own one of these premium digital assets. The recent release of ApeCoin has added another ape-based asset to the crypto market, which could have massive potential in the future.
This guide will explore our ApeCoin price prediction in detail, touching on what the coin is and how it could perform, before showing you the best place to invest in cryptocurrency today – with low trading fees.
|🐒 Coin Name||APEcoin.dev|
|🔆 Coin Symbol||APE|
|⏳ Price Change 1h||1.11%|
|🌕 Price Change 24h||1.81%|
|💵 Market Cap||$0|
|🌐 24h Volume||$133,376|
|🔄 Circulating Supply||0|
|💰 Total Supply||10,000,000|
ApeCoin – Latest News
Below is a quick summary of some of the latest updates surrounding this cryptocurrency.
- Following the correction of Silvergate, a global crypto bank, ApeCoin and the overall crypto markets have traded downwards. APE corrected considerably over the past weeks.
- ApeCoin is in a sell zone according to the 1-week timeframe of TradingView. This indicates that the token may face further correction in the short term.
- This cryptocurrency has dropped under the $5 mark, trading at about $4.20.
ApeCoin Price History
Before you rush in and buy ApeCoin, it’s wise to understand what the coin is and how it works.
Put simply, ApeCoin is an ERC-20 token designed for governance and utility. Hosted on the Ethereum blockchain, ApeCoin was created and launched by ApeCoin DAO – a decentralized autonomous organization with the sole goal of growing the coin in the coming years.
This is where things can become a little confusing, as ApeCoin is also the ‘official’ token of the Bored Ape Yacht Club NFT collection. However, contrary to popular belief, ApeCoin was not created by Yuga Labs, the parent company of the NFT collection. It’s unclear why Yuga Labs has distanced itself from ApeCoin’s creation, although it could be due to regulatory concerns.
According to CoinMarketCap, there is a maximum supply of 1 billion APE tokens, with around 368 million currently in circulation. Given the current ApeCoin price, this gives the token a market cap of $2.1 billion – making it the 31st largest crypto globally.
ApeCoin pumped on launch but has not been above $10 since May and has actually spent much more time around the $4 to $6 range.
Given the hype around Bored Ape Yacht Club NFTs, the celebrity backing and connection to that project, there is no reason ApeCoin wouldn’t pump in another NFT bull run, although there is currently limited utility.
But what does ApeCoin actually do? Firstly, ApeCoin was distributed to holders of Bored Ape Yacht Club and Mutant Ape Yacht Club NFTs as a ‘reward’ for ownership. Owners of original Bored Apes received 10,094 tokens, which equates to nearly $59,000 at current prices. A total of 15% of APE tokens will be allocated to NFT holders, with 47% being given to the DAO to grow the project in the years ahead.
For non-NFT holders, ApeCoin can be obtained from many of the best crypto exchanges and used as a payment method. Furthermore, since APE is the governance token of the DAO, token holders will also be able to vote on proposals from other community members.
The ApeCoin stock price debuted at $5 on March 17 and immediately surged over 250% within its first 48 hours of trading.
After a few sideways weeks, the project again pumped in early May, reaching its all-time high of around $25.
Like much of the rest of the market, APE struggled in 2022. However, APE increased from a price of $4 in December 2022 to the current price of $5.8 – a 45% increase. One of the reasons for the price jump could be due to the release of ApeCoin’s staking mechanism, which went live on December 12th, 2022.
But, APE has faced price volatility in the last week of January 2023. FXStreet noted that APE declined by 7% on January 30th to a price of $6.20 per token. Since then, the token has corrected to a current price of $4.20.
Here is a brief summary of the key points concerning ApeCoin that we’ve covered thus far:
- Created by ApeCoin DAO – not by Yuga Labs.
- Acts as the ‘official’ token of the Bored Ape Yacht Club NFT collection.
- It was distributed to NFT holders as a reward, with the remaining tokens given to the DAO and other launch contributors.
- Began trading on centralized exchanges on March 17 and immediately surged 250%.
- Reached all-time high of $24.07 on April 30
- Dipped below $10 on May 9 – has not been above $8 since
- APE Staking mechanism went live in December 2022
- APE is currently priced at $4.2.
ApeCoin Price Prediction 2023
Given the media attention that ApeCoin has generated, this token could has been one of the hottest cryptos to buy in 2023 and that could continue in the next bull run.
Like with all new token listings, it’s challenging to make reliable forecasts based on technical analysis due to price still creating structure. However, we can still make some forecasts using information about the project and its upcoming use cases.
As discussed earlier, ApeCoin’s primary use case is as a decentralized payment method.
The specific projects that ApeCoin intends to partner with are currently unclear, although there are rumors that the token may become integrated with various blockchain-based games. An upcoming project from Animoca Brands, one of ApeCoin’s initial investors, as noted by Fortune.com, looks likely to use APE – helping increase demand for the token.
Benji Bananas, a popular play-to-earn (P2E) mobile game, has adopted APE and enabled users to earn the token through skilled gameplay. Although this is just one example of ApeCoin’s utility, it does pave the way for similar use cases in the future.
With the release of the ApeCoin staking mechanism in December 2022, APE is slowly offering more use cases to token holders. After a sluggish 2022, APE seems to have picked up the pace in 2023. Since the start of the year, APE has increased by more than 45%.
However, with the ongoing crypto winter and bad macroeconomic conditions affecting all coins, it is unlikely APE reaches much further than $8 by the end of this year.
Cryptoassets are a highly volatile unregulated investment product. No UK or EU investor protection.
ApeCoin Price Prediction 2024
For ApeCoin to be considered one of the most undervalued cryptos, it would need to create some use cases that help steer the token away from being simply a ‘meme coin’.
This could be difficult, especially given its close link to the NFT space. However, the coin’s structure hints that it may have real-world utility in the months and years ahead.
Since token holders govern the ApeCoin DAO, there is limitless potential for what ApeCoin could be. The official ApeCoin forum has already agreed on staking and token distribution.
As time goes on, further suggestions will likely spring up from community members that could positively impact the token’s price prospects. Aside from the governance and game-integration aspects that we have touched on already, ApeCoin can also be used to make payments to merchants.
Given the coin’s current size and status, there aren’t many companies that have opted to accept APE at present. However, Investing.com noted that SaltWater Brewery will begin accepting ApeCoin as a payment method – paving the way for more merchants to follow suit.
The APE price in 2024 can also be affected by the overall cryptocurrency performance. If the cryptocurrency markets manage to gear up for yet another bull run, we can see APE soar comfortably to the $15 mark. This would represent nearly a 3x price jump from current levels. However, the uncertainty in the current financial landscape makes it difficult to assess the possibility of another bull run.
ApeCoin Price Prediction 2025
The decentralized autonomous organization is one of the main aspects that ApeCoin is working on. In the medium term, the project’s DAO will be crucial for policy-making and mapping the ecosystem’s future. Recently, ApeCoin made progress after finalizing its Special Council Elections.
The elections elected 5 members who will be responsible for shaping the future of this ecosystem. Furthermore, analysts are bullish on the price of APE in 2025. Changelly, a popular price prediction forum, has stated that APE can potentially trade between $19 – $22.5 by the end of 2025.
If the overall market sentiment is positive, we can potentially see APE regain its all-time high (ATH) of $26.70 by the end of 2025. This comes to an estimated price increase of 360%.
ApeCoin Price Forecast Long Term Outlook – 2030 Prediction
ApeCoin’s success may become more apparent over the longer term once the coin solidifies a reputation for utility rather than speculation. One avenue that the ApeCoin DAO looks likely to explore is entering the metaverse.
This is already happening with Yuga Labs previously releasing ‘The Otherside’ and teasing other upcoming projects.
Furthermore, Bored Ape Yacht Club NFTs has massive celebrity and investor backing, who have a vested interest in making APE successful given their vast holdings.
Retail investors could jump on board if high-profile holders shill the project.
If NFTs continue to gain in popularity and Bored Apes remain at the forefront of the space, it would allow ApeCoin to become one of the best metaverse coins.
If this sequence of events comes to pass, it would significantly bolster ApeCoin’s utility and remove any associations with other non-functional meme coins.
Thus, our ApeCoin price prediction 2025 estimates the coin could reach $75 by the end of 2025 unless there is a major bull run on GameFi and NFT projects, in which case it could go higher. Since APE is still a new token, there is still a lot of risks associated with investing in this project. Thus, we have estimated a potential low of $25 by the end of 2030.
Cryptoassets are a highly volatile unregulated investment product. No UK or EU investor protection.
Potential Highs & Lows of ApeCoin
Today, the ApeCoin price is down 27.5% from its launch price, which isn’t as bad in that time frame as some other projects, hinting there is still some confidence in the Bored Ape ecosystem.
However, as people who invest in Bitcoin will know, crypto prices can be notoriously volatile, especially those newly listed on exchanges.
Although price data is currently limited, our research for this ApeCoin price prediction has helped inform potential highs and lows that the token could experience in the years ahead.
This information should be helpful to speculative investors who are keen to note areas of interest on the price chart.
The table below presents these potential highs and lows, which are helpful to keep in mind:
|Year||Potential High||Potential Low|
What is ApeCoin Used For?
Now that you have a firm grasp of how ApeCoin came to be, let’s take a closer look at the coin’s use cases:
As touched on, ApeCoin is designed in a similar way to other Web 3.0 coins in that it can be used as a way to conduct decentralized payments. Due to the pervasiveness of ERC-20 tokens, ApeCoin can theoretically be accepted by an abundance of merchants – which isn’t the case for tokens from smaller blockchains.
ApeCoin DAO, the company behind ApeCoin, is governed by the token’s holders. As such, proposals are put forward by community members and then voted on by APE owners. This creates a clear incentive to own the token and will be one of the main drivers of demand going forward.
Bored Ape Yacht Club has long been considered one of the best NFTs to buy – and this was reinforced by the fact that all NFT holders received free APE tokens. In essence, this was akin to receiving free money, as NFT holders could immediately cash in their tokens for FIAT if they wished. However, given APE’s price prospects, it’s likely that holders will have retained their tokens for the time being.
Finally, the upcoming release of ‘The Otherside’ has fuelled rumours that ApeCoin may be integrated into this metaverse, which could make it one of the best metaverse coins to buy in 2023. Like other metaverse tokens, this could mean that APE will be used as a transactional token on The Otherside’s marketplace. Furthermore, APE may also be used to reward players if this metaverse incorporates P2E elements – although this is merely speculation at this point.
The Bored Ape community agreed on a staking mechanism, which went live on December 12th, 2022. Within 24 hours of the release of the staking mechanism, more than $32 million worth of APE was staked. An estimated $100 million worth of APE is likely to be released as rewards through the staking pools. Along with APE, the staking mechanism lets users generate a yield by staking NFTs such as BAYC and MAYC.
What Drives the Price of ApeCoin?
The ApeCoin price chart is already showing some clear upwards momentum in the token’s price, driven by numerous factors. Let’s take a look at three of the main elements that are contributing to APE’s bullish surge:
The Popularity of Bored Ape Yacht Club
Those who invest in NFTs will undoubtedly have heard of Bored Ape Yacht Club, the collection that popularized ape-based art. This collection has become so ingrained in the media that numerous celebrities (such as Eminem and Logan Paul) have purchased Bored Apes. Ultimately, this mass appeal will positively impact ApeCoin – even though the two projects are not created by the same company.
Listing on Major Exchanges
One of the main factors helping push ApeCoin higher is that the coin has already been listed on numerous major exchanges. This is quite a feat, as many centralized exchanges have high barriers to entry which are difficult for new projects to meet. At present, ApeCoin and other cryptocurrencies can be purchased on Binance, Huobi, Coinbase, KuCoin, and more.
Overall Market Sentiment
Finally, as tends to be the case with smaller coins, ApeCoin will likely follow the overall market trend until it finds its feet. Investor sentiment seems to be turning positive once more, helping push BTC (and other cryptos) higher. In turn, this positive sentiment will indirectly affect APE’s price as more liquidity flows into the crypto market.
To protect your capital against price volatility, you can earn interest on ApeCoin while holding it.
ApeCoin Video Analysis
Where to Buy ApeCoin
The next portion of this ApeCoin price prediction will focus on the investment process. As noted in the previous section, ApeCoin is now listed on numerous centralized exchanges, making it easy for crypto investors to purchase. However, if you’re interested in obtaining other coins, we recommend partnering with eToro.
Most crypto investors will have heard of eToro, as this broker has a fantastic reputation for safety and fees. In terms of the former, eToro is regulated by top-tier organizations such as the FCA, ASIC, CySEC, FINRA, and FinCEN. The platform itself is incredibly user-friendly, with investors able to trade on the browser-based platform or the dedicated mobile app.
eToro ensures its fee structure is transparent, which can be an issue with other exchanges. A simple 1% fee is charged when a trade is opened or closed, along with the bid-ask spread. Aside from this, eToro charges no deposit fees or monthly account fees, ensuring the entire trading process is cost-effective.
eToro users can fund their accounts from only $10, with credit/debit cards, bank transfers, and e-wallets (including PayPal) all supported. The minimum position size is also only $10, ideal for beginner traders. Finally, eToro also offers one of the best crypto wallets on the market (eToro Money), which is free to download and employs multiple advanced security measures to protect users’ holdings.
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Cryptoassets are a highly volatile unregulated investment product.
ApeCoin Price Prediction – Conclusion
In conclusion, this guide has discussed our ApeCoin price prediction for the months and years ahead, touching on the coin's use cases and value potential.
Although the token's utility is limited, there's undoubtedly scope for this to change - which would help drive the APE price higher over the longer term - while the massive interest and hype around the Bored Ape community will likely keep the coin relevant well into the future.
We would also recommend looking at Love Hate Inu - a new presale project also in the GameFi sector that boasts a unique Vote-to-Earn concept.
Love Hate Inu - Memecoin with a Fundamentally Strong Product
Love Hate Inu is a revolutionary meme coin project that offers users the opportunity to earn rewards by participating in polls. With its innovative 'Vote-to-Earn' mechanic, users can generate recurring revenue by simply sharing their opinions on a wide range of topics, from politics to pop culture.
The platform is built on the Ethereum network, ensuring that all poll entries are recorded on the blockchain for enhanced transparency and security. This unique selling point leads to more reliable and trustworthy poll results and provides a powerful tool for businesses looking to gather real-time feedback from a large community of users.
With the online software survey market projected to value at $5.69bn by 2027, Love Hate Inu is perfectly positioned to become a key player in this industry. Its user-friendly and rewarding approach to polling presents a massive opportunity for individuals and businesses alike. Companies can leverage Love Hate Inu to conduct polls and gather valuable insights into their customers' preferences and opinions, allowing them to make more informed business decisions and product development choices in the future.
Additionally, Love Hate Inu's V2E mechanic creates a passive income stream for users, making it an attractive investment opportunity for those seeking to earn cryptocurrency without actively trading. With its transparent and secure voting system, Love Hate Inu sets a new standard for polling and incentivization. As the presale continues, the project's vision and potential continue to attract investors in droves, with the LHINU token being snapped up at a discounted price.
The backbone of the Love Hate Inu ecosystem is its native token, LHINU. This ERC-20 token is used to power the platform's voting system, with staking enabling users to participate in polls and receive rewards in return. Unlike other projects that allocate a portion of their tokens to developers or the ecosystem, LHINU has taken a different approach with a simple yet effective tokenomic structure.
All 100 billion tokens have been reserved for the community, with 90% available during the presale period. This approach aligns with Love Hate Inu's values of democratization and inclusivity, ensuring that early movers and supporters of the project have the chance to participate and benefit from its success.
The remaining 10% of tokens are dedicated to maintaining liquidity, facilitating exchange listings, and providing community rewards.
7th March 2023
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