ApeCoin APE/USD is an ERC-20 utility as well as governance token primarily developed to be used as a part of the APE ecosystem.
The main goal this token has is to empower the overall decentralized APE community as it builds Web 3.0 functionalities.
APE is governed by the ApeCoin DAO and supported by the APE Foundation.
Metaverse plans as a catalyst for growth
On April 13, we covered how APE registered bullish gains amid the broader market recovery.
On March 19, 2022, Yuga Labs, the team behind ApeCoin, launched an official trailer where they teased the upcoming metaverse.
This metaverse is called Otherside. Little is known at the moment about the project, aside from the fact that it will be a metaverse that will end up incorporating ApeCoin (APE) as well as several non-fungible tokens (NFTs).
However, Yuga Labs did say that they would reveal more information about the project later on throughout April.
They specifically launched ApeCoin (APE) to serve as the native token for all of their future projects, and this teaser trailer has led to an increase in the value of APE.
But can APE reach a new all-time high point of value?
We will go over the token’s historical value as a means of getting an indication as to how far it can climb by the end of April.
Should you buy ApeCoin (APE)?
On April 20, 2022, ApeCoin (APE) had a value of $16.54.
To truly see what this value point means and indicates for the value of the ApeCoin (APE) cryptocurrency token, we will be going over its ATH point of value alongside its performance throughout the previous month.
When we go over the token’s performance throughout the previous month, its lowest recorded point was on March 17, 2022, when the token was worth just $7.26.
With that in mind, when we look at the token’s all-time high, ApeCoin (APE) achieved its all-time high value on March 18, 2022, with a value of $17.17.
This means that the token increased in value by $9.91 or by 136%.
However, since then, the token has decreased to a value of $16.54, which makes this a solid entry point towards buying it, as it can reach new heights.
In fact, at this rate, ApeCoin (APE) can reach a value of $20 by the end of April 2022, which would be its latest all-time high point.
The post Could the Otherside Metaverse lead APE to a new ATH? appeared first on Invezz.
from Market Analysis – Invezz
