Analysts warned of possible ApeCoin depreciation

Santiment's experts found a decline in active APE token addresses

27.04.2022 - 15:40

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What’s new? In the near future, the ApeCoin token may begin to decline and enter a “bearish” phase, according to the analytical company Santiment. The experts noted several indicators, according to which the value of altcoin is at its peak and is capable of moving to the decline. Santiment drew attention to the decrease in the number of active addresses of ApeCoin compared with the last price maximum, which was observed in mid-April. The market value of capitalization to realized value (MVRV) has also declined compared to the historical peak of the APE price.

Information on the Santiment website

What else did the experts focus on? The analytical company studied the indicator “age consumed APE,” which shows the period during which an investor has owned an asset. According to Santiment, this indicator showed a large increase, which is “a possible sign of a trend change.”

What is known about ApeCoin? It is an altcoin created for the NFT community Bored Ape Yacht Club (BAYC). APE trades at $19,1 on April 27, up more than 6,9% in the past 24 hours, according to Binance.

What had happened before? On April 25, the lowest price of a token from the Bored Ape Yacht Club NFT collection reached a record high of 137,8 ETH ($385 700 at the exchange rate on April 25). This came after the collection’s creator, Yuga Labs, state the imminent launch of the metaverse. The company reported on Twitter that the launch is scheduled for April 30.

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