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HomeCryptocurrencyAltcoinsTop Reasons Why Apecoin ($APE) Price Hitting $25 Seems Imminent

Top Reasons Why Apecoin ($APE) Price Hitting $25 Seems Imminent

Nidhi Kolhapur

ApeCoin continues to outperform the rest of the cryptocurrency market by a large margin. As BAYC NFT demand continues to grow, the $APE Price is aiming for a breakout above $25.

The cryptocurrency is currently trading near $19 per token, up about 6 percent on Wednesday alone, and is aiming for a breakout to new record highs above $25.

The price of APE coins momentarily reached a record high of $19.44 on Thursday, thanks to ongoing accumulation by top ETH whales in recent days.

Apecoin ($APE) to Ace the Race

The recent attack on BAYC’s official Instagram account, which resulted in the theft of $2.4 million in Bored Ape NFTs, and the recent bad sentiment in the crypto market had no impact on ApeCoin (APE) values. The top metaverse token has risen more than 50% in the previous two weeks due to strong demand. As a result, the total number of unique addresses holding APE has surpassed 54,000.

According to statistics from WhaleStats, prominent Ethereum whales have been accumulating APE tokens in the previous 24 hours. In fact, ApeCoin (APE) is one of the top ten tokens purchased by ETH whales in the last 24 hours, as well as the most used smart contract by top ETH whales.

Furthermore, in the previous 24 hours, a number of well-known ETH whales purchased a considerable amount of APE tokens. “Bonobo,” an ETH whale, purchased 99,999 APE for $1,778,999, while “BlueWhale0097” purchased 250,000 APE worth $4,410,000.

Also Read : Top ETH Whales Accumulating SHIB, APE, MANA, Amidst Crypto BloodBath Says On-Chain Data

Recent sources indicate that the floor price of Bored Ape NFTs has risen. From a low of 105 ETH to a high of 140 ETH, the floor price has risen dramatically. As a result, as the popularity of Bored Apes NFTs grows, so does the price of APEs.

It has also surpassed prominent metaverse tokens such as Decentraland’s MANA, The SandBox’s SAND, and Axie Infinity’s AXS. The buzz around BAYC’s metaverse project “Otherside” and film trilogy appears to be the cause of the APE price increase.

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