ApeCoin Price Prediction: APE Price Ready To Hit Fresh Highs; Time To Buy?

APECOIN PRICE PREDICTION: APE PRICE READY TO HIT FRESH HIGHS; TIME TO BUY? ApeCoin is the currency used in the APE Ecosystem.

ApeCoin was developed by ApeCoinDAO and is also the official token of the BAYC NFT collection.

However, it wasn’t created by Yuga Labs.

ApeCoin became mainstream when Yuga Labs, the team behind the Bored Ape Yacht Club NFTs, partnered with the ApeCoin organization and announced a new metaverse project.

Before investing in any financial vehicle, and doubly so with crypto, it’s a brilliant idea to understand it thoroughly. ApeCoin is an ERC-20 token, meaning that it stands for “Ethereum Request for comment.”

Today, we’ll find out more about ApeCoin and its price predictions for 2022. Read below to learn more about ApeCoin:

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WHAT IS APECOIN? Yuga Labs aims for ApeCoin to serve as a decentralized protocol layer to push the metaverse culture forward. Due to the media attention received by ApeCoin, it was estimated to become one of the best altcoins in 2022 eventually.

It would serve as a reward for ownership, with original BAYC Owners receiving 10,094 ApeCoin tokens each, roughly equating to $150,000. For non-BAYC and associated NFT holders, ApeCoin can be obtained by the best crypto exchanges in the world, including Coinbase.

Bored Ape Yacht Club is considered one of the best NFT projects to buy, thanks to its resale value, but also the fact that NFT holders obtain free gifts from time to time, such as Mutant Ape Yacht Club NFTs or APE tokens. Considering how many of these tokens could be redeemed for fiat currencies almost instantly, Yuga Labs giving these to BAYC NFT holders was the same as giving away free money.

Investors who bought a BAYCNFT would be given access to claim APE tokens for free. Before the launch of the site, at 9. A.m. ET, users could visit the website Othersyde.xyz to set up their ApeCoin pre-approval.

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Investors interested in APE had driven its price up as much as 37.2% over an initial 24-hour period. What caused APE’s price to plummet was selling the land NFTs at a flat rate instead of an auction-style. They were sold at a rate of 305 ApeCoin tokens each. After ApeCoin’s crash and as of writing, it has a market cap of $74,777.14.

There’s a maximum supply of 1 billion APE tokens per the CoinMarketCap, with 277.5 million currently in circulation.

The token’s rise has been meteoric, to say the least, especially considering how it is a memecoin at the end of the day.

Part of what makes BAYC stand out as a project is how this NFT project is about networking with famous celebrities in-parties and supporting a platform that tries to innovate within the blockchain industry.

Changelly’s blog mentions that ApeCoin prices are expected to rise in 2022, with its minimum cost $19.54. The max level APE can reach would be $21.85, with an average estimated at $20.30.

There’s a chance that the lowest and peak APE rates might be $16.42 and $17.81 in July, with its peak value reaching $18.49 in August 2022.

Further predictions stated that ApeCoin would cross the $150 mark price by 2023.

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WHAT IS A MEME COIN? ApeCoin is what’s known as a meme coin. Memecoins are cryptocurrencies inspired by internet memes and jokes. When we talk about Dogecoin, Dogelon Mars, or Shiba Inu, Memecoins are notorious because they have gained a notorious following, and many of them, like Dogecoin, go mainstream. However, their value rarely goes very high.

ApeCoin was hyped so much; driving up its value through speculation was precisely because it’s considered a meme coin. ApeCoin is regarded as a meme coin despite having real deal because of its connection to an NFT fund. Many investors expected its bubble to burst just a couple of months after its release.

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WHAT IS OTHERSIDE? Otherside is the Metaverse created by Yuga Labs. Its trailer was released on Twitter on March 18, 2022. Yuga Labs wanted to create something that expanded the universe of the Bored Ape Yacht Club but was also open for other members of the NFT community to participate.

It’s an MMORPG (Massively Multiplayer Online Role-Playing Game) plugged into the BAYC ecosystem.

The trailer featured avatars from CryptoPunks, CrypToadz, World of Women, Cool Cats, Mutant Ape Yacht Club, and other famous NFT projects.

Otherdeeds would only be available for purchase by wallets that were confirmed by the Yuga Labs Know Your Customer released in March. On top of that, to reduce the massive amount of gas fees upon distribution, there’s a limit of 2 NFTs per wallet at the start of sale, also at 9 o.m.

ET. The number of NFTs that can be minted per wallet can increase as the public sale continues.

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WHY DID APECOIN GO DOWN IN PRICING? In the last couple of days, ApeCoin has gone down in pricing.

The reasons for this are varied: first, there’s a bearish trend in the cryptocurrency market. On top of that, there was a recent land sale in a Metaverse that uses ApeCoin.

Despite its initial crash, APE recovered relatively quickly.

Predictions on its possible pricing have been varied. Considering the volatility of cryptocurrencies, and more so that of meme coins, even crypto experts can have difficulty making accurate estimations.

A prediction made by Analytics Insight considered that there’s a chance that ApeCoin’s price might increase to $51 by the end of 2022. Coin Price Forecast has a more positive outlook, predicting that ApeCoin could reach an increase right under 350%, raising its value to $75. There’s also a chance that APE will keep dropping in the coming weeks before rising back up in price.

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APECOIN PRICE PREDICTIONS By 2025, ApeCoin could reach an all-time high of $430, with a modest growth estimating a rise to about $315 and the maximum estimate reaching $146. There’s the possibility of ApeCoin’s price rising by 450% by 2026.

In short, most estimates expect ApeCoin to reach a higher price due to a general bullish trend in the crypto market. Despite its status as a meme coin, ApeCoin’s connections to BAYC as part of the ecosystem Yuga Labs has created make it a tempting investment vehicle.

Crypto experts consider ApeCoin to be an excellent digital currency to invest in. As a digital asset, it is prone to the high volatility that characterizes NFT money. Considering ApeCoin’s relatively low price at the moment, it might be an option for aspiring crypto investors who don’t want to break the bank yet wish to participate in their first crypto investment or diversify their crypto portfolio.

It’s been noted that the asset has potential due to its link with Bored Ape Yacht Club’s mass appeal. ApeCoin can become more viable for investors by establishing a reputation as a utility rather than a tool for crypto speculation.

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Considering the plans for the ApeCoin DAO and Yuga Labs to enter the Metaverse by implementing The Otherside, then after a couple of years, ApeCoin could be synonymous with other primary metaverse tokens such as LAND or AXS. However, Bored Ape Yacht Club has a more significant pull, and mass appeal than Axie Infinity or The Sandbox do at present. This would mean that ApeCoin could potentially become one of the premium metaverse coins due to the media investments Yuga Labs is making to expand BAYC’s reach.

ApeCoin, as an ERC-20 token, can possibly be used and accepted by many digital merchants.

Unlike lesser-known tokens of other NFT projects, ApeCoin can be implemented as a way to perform decentralized payments.

It also serves as a governance token, as ApeCoin token holders govern ApeCoin DAO. Proposals put in motion by community members could be voted by APE owners, a key component of decentralization and one of the main drivers of demand moving forward.

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FINAL WORDS ABOUT APECOIN’S PRICE PREDICTION If you’re feeling adventurous and want to dip your toes into the world of crypto investment, ApeCoin is a good starting point, thanks to its low price and predicted increase in value over the years.

Just be aware that digital assets are prone to high volatility, so don’t invest more than you can afford to lose. And if you want to learn more about NFTs before investing, check out our other guides on What are NFTs here.

With all that said, we wish you the best of luck in your crypto investments!

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