ApeCoin’s Positive Strides Suggest a Potential Trend Shift
This week, ApeCoin (APE) has made positive strides, indicating a potential shift in the trend. Currently trading above a support level of $1.07, it shows signs of attracting more buyers into the market.
The Moving Average Convergence/Divergence (MACD) indicator supports this potential shift, as it has risen above the signal line. This suggests that there is an influx of buyers in the market.
If more buyers enter, APE could rise further to its previous resistance level at $2.12, which would be an 87.6% increase from its current value. If the momentum is sustained, the next crucial point for APE could be at $3.37.
ApeCoin Maintains a Bullish Momentum – Could the Value Double in the Next Quarter?
ApeCoin has been on an upward trend despite the high volatility in the broader crypto market. As of September 22, APE was trading at around $1.13.
According to CoinMarketCap, ApeCoin is ranked as the fourth-top gainer over the past 24 hours, following Zilliqa (ZIL), Terra Classic (LUNC), and Curve DAO (CRV).
Over the past seven days, APE has shown sustainability with a 2.85% increase. With further progressive growth, there is potential for APE to double its value.
Some Recent Events Driving the Value of APE
The ApeCoin DAO has experienced recent events that have contributed to the price surge of APE. Jeffrey Huang initiated the AIP-304 proposal, which aims to drive engagement in Web3 by acquiring NFTs.
The proposal will allocate about 11 million APE tokens to the Digital Art Movement (DAM) organization. DAM plans to utilize at least 70% of the proposed coins to purchase NFTs from Yuga Labs and other prominent projects.
The voting for the AIP-304 proposal concluded on September 21, with a majority supportive vote. This proposal aims to increase ApeCoin’s cultural impact on digital art and potentially raise the value of APE.
BTCBSC Moves Past $4 Million, Proceeds to Sell Out
Since its presale, BTCBSC has accumulated over $4 million, making it one of the most anticipated presales this year. After the presale, the asset will launch on decentralized exchanges, and its value is expected to double.
Built on the Binance Smart Chain (BSC), BTCBSC mirrors some of Bitcoin’s features and addresses its limitations through a stake-to-earn mechanism. Staking BTCBSC tokens rewards users with 0.25 tokens for a new block every 10 minutes, accumulating an annual percentage yield (APY) of 120%.
With 69% of the total supply designated for stake rewards over 120 years, BTCBSC includes utility in its functionalities. The project also offers a referral program to attract more investors.
Hot Take: ApeCoin and BTCBSC Show Promise in a Volatile Crypto Market
ApeCoin’s recent positive strides and potential trend shift indicate a promising future for the cryptocurrency. With sustained momentum and increased buyer influx, there is potential for APE to reach higher resistance levels and double its value.
On the other hand, BTCBSC’s successful presale and stake-to-earn mechanism showcase its potential in addressing Bitcoin’s limitations. With its utility and referral program, BTCBSC aims to attract more investors and provide long-term rewards.
Insa’s extensive background in the financial realm encompasses roles as a writer, trader, and personal finance coach. Her proficiency spans a wide spectrum, ranging from commodities and indices to forex and cryptocurrencies. Insa’s specialization lies in furnishing strategic investment advice tailored to the fintech investment niche.