
The huge success recorded in the sales of the two NFT projects affiliated with Apecoin, known as the Bored Ape Yacht club (BAYC) and the Mutant Ape Yacht Club (MAYC), has attracted large investors into the Apecoin project with the expectations that it will excel like its affiliated NFTs projects. The BAYC, for instance, sold above 1 million dollars per token after it was launched at $200 per token. Consequently, many investors have placed great expectations on Apecoin for its price to perform wonders in the future and possibly create new all-time-high records just like its NFT counterparts.
Many analysts have made their projections for this coin, with a greater number expecting to see it attain at least $50 before the end of 2022. Others believe the price could go beyond this level to attain $100 before the end of the year.
To this end, this work has critically examined the possibility of Apecoin attaining this level in 2022. We have further highlighted the factors that could limit the performance of this coin in 2022 to assist investors in deciding how to invest in Apecoin. You will also find in this work the use case of Apecoin and the list of the best crypto exchanges for buying Apecoin today.
What is Apecoin?
Apecoin is the governance token of the Bored Ape Yacht club. This coin was originally created and distributed as an airdrop to the Bored Ape Yacht club holders and the Mutant Ape Yacht Club.
However, following its launch in March 2022, the coin has amassed a great community independent of these two NFT projects.
Apecoin has been designed to bring more innovations into the metaverse space and to enable users to play exciting games. It is a Decentralised Autonomous Organisation (DAO) project where holders qualify to vote and decide on its development.
Understanding the Apecoin ecosystem
The Apecoin ecosystem embraces its Bored Ape Yacht club (BAYC), the Mutant Ape Yacht Club (MAYC), and all the holders of this coin.
Price history of Apecoin
Apecoin has witnessed rapid price growth from its launch to the present. The price attained an all-time high at $28.0 on April 28, 2022. The price has diminished significantly since then, creating an all-time low of $3.10 on June 15, 2022. Many have attributed this fall to the current bear season dominating the crypto market.
At present, Apecoin is currently selling above $5.00 in September 2022.
Can Apecoin hit $50 in 2022?
Given the huge success recorded in the sales of the two NFT projects affiliated with Apecoin, many analysts have predicted that this coin could attain $50 before the end of 2022. Some even forecast higher levels for this coin before the end of 2022. However, an important factor to note about Apecoin is that this coin, just like every other cryptocurrency, is subject to Bitcoin’s dominance and will always follow the direction detected by Bitcoin in the market today.
Additionally, the crypto market is in a bear season when investors lose their buying appetite for various crypto projects. This means we can expect the prices of various crypto projects to remain lower in 2022 and perform below expectations.
What is the Use case of Apecoin?
- It is the governance token for the Apecoin ecosystem.
- Employed as a means of digital payment.
- Used in running smart contracts.
List of Best Ten Crypto Exchanges to buy Apecoin
- Binance
- eToro
- Bybit
- Huobi Global
- Kucoin
- Gate.io
- FTX
- Crypto.com
- Coinbase
- Gemini