Ape Coin going APE!!!
Updated
Ape coin has been around for about a month and a half but Bored Ape Yacht Club and Mutant Apes have been around for over a year, but some how APE COIN has amassed a 6.3 billion market cap to become the largest metaverse coin, surpassing the likes of SAND, MANA and AXS. Why do you think it is? Well my opinion is simple, currently the floor price for these NFT's is around $304,000 dollars at the time of writing, so the majority of people can't afford a BAYC NFT so the next best thing is to jump on APE COIN. For the past month and a half people have been flocking to APE COIN to be part of this proven community, but also rumors that have been proven to be facts about a metaverse called "The Otherside Meta" have driven the price up due to the fact that April 30th there is going to be a land auction and APE COIN is going to be the currency for purchase (plus ETH gas fees).
Lets not forget about Yuga Labs, the creators behind all this, it seems everything they touch turns to gold and I think The Otherside metaverse won't be the exception. Yuga Labs has done a great job of marketing and rewarding there NFT holders, which got airdrops (free APE COIN) for just owning the NFT's. The future success of APE COIN will depend on the utility it will have inside The Otherside metaverse and the community behind APE COIN and there NFT's.
Price will likely go up until the day of the land auction, when I suspect there is going to be a huge APE COIN sell off, but I think price will break the $30 dollar mark, maybe $40 but I find it highly unlikely due to the fact that APE COIN has been oversold for a while now and bulls are losing buying power. But this is Crypto and you never know what will happen(DOGE and SHIB hahaha)
My strategy will be sell some APE when hits $30 and leave some to see if it reaches higher and then sell some more. Once price retraces after the land auction to about the $14 to $15 level I will re enter.
Remember always take profits, you will never go broke taking profits.
If you like this idea or you disagree with it please like and comment, I would like to read your opinions.
Lets not forget about Yuga Labs, the creators behind all this, it seems everything they touch turns to gold and I think The Otherside metaverse won't be the exception. Yuga Labs has done a great job of marketing and rewarding there NFT holders, which got airdrops (free APE COIN) for just owning the NFT's. The future success of APE COIN will depend on the utility it will have inside The Otherside metaverse and the community behind APE COIN and there NFT's.
Price will likely go up until the day of the land auction, when I suspect there is going to be a huge APE COIN sell off, but I think price will break the $30 dollar mark, maybe $40 but I find it highly unlikely due to the fact that APE COIN has been oversold for a while now and bulls are losing buying power. But this is Crypto and you never know what will happen(DOGE and SHIB hahaha)
My strategy will be sell some APE when hits $30 and leave some to see if it reaches higher and then sell some more. Once price retraces after the land auction to about the $14 to $15 level I will re enter.
Remember always take profits, you will never go broke taking profits.
If you like this idea or you disagree with it please like and comment, I would like to read your opinions.
Note
APE COIN has retraced, in part due to the news that the Dutch auction model(auctions were prices start high and go down) has been cancelled and instead a flat fee of 305 APE COIN will be needed to mint. Also prices don't go up without retracing a bit, so this downward movement is to be expected in order to reach higher highs. Right now we must go over that $25 dollar mark which has shown some resistance in order to reach a $30 dollar APE COIN. Always remember strong resistances eventually turn into strong support, so its not all bad. We cant forget about the influence of BTC, where ever BTC goes the market follows. Right know Bitcoin is down about 3%, taking this into consideration APE COIN is not doing that bad, the price is down but its more of sideways action on the charts, APE is actually up 33% on the weekly. This is why I stress taking profits on the way up, nobody ever gets broke taking profits.
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