ApeCoin is an ERC-20 token, a kind of Ethereum-based virtual currency. Nearly every major centralized crypto exchange listed the token nearly immediately after its release. ApeCoin had a market valuation of almost $2 billion just after a day of flowing into the market; one APE is worth approximately $14.
It’s essentially a reflection of an ambition to connect a variety of Decentralized developments. Yuga Labs, the project’s inventors, have mentioned that ApeCoin will become the token and coin (APE token) for all innovative products that their corporation unveils, varying from the in currency to management tokens.
ApeCoin (APE) is a cryptocurrency that takes inspiration from renowned NFT collectibles – the Boat Ape Yatch Club. Which is the biggest NFT project by market capitalization. It left everyone astounded when the price hit its All-time-high, in mere a couple of hours of its launch.
ApeCoin had made its presence on the 17th of March 2022, with a price tag of $0.9605. The massive spike on the very first day led to the wick brushing an ATH of $39.4. After a pull back to $8.5 on the 18th of March. The price escalated up to $15.32 by the 28th of March.
The market represented an assorted set of opinions on ApeCoin. While some treated it as a meme coin, others expected its bubble to burst. However, APE has come a long way, since its inception, and has faced turbulence in the business.
If it witnesses possible integration to metaverse. Moreover, the rise of DAOs, would help demonstrate the practical value of APE. ApeCoin’s hold on Web 3.0, DAO, and connections with BAYC and MAYC could bring in notable collaborations and adoptions. With more acceptance like that of Shopping.io, then the price of APE could turn bullish on the charts.
Given that the quest has indeed begun growing out — forming its multiverse, cartoons to arranging real-life events, and among many other things. Things materializing as per the expectations could push the ApeCoin price prediction 2023 to $6.785.
