ApeCoin Maintains 2nd Place on CoinMarketCap’s Trending List

ApeCoin (APE) maintains its 2nd place spot on CoinMarketCap’s trending list, and is up 3.74% in the last 24 hours. APE’s price currently stands at $17.49 or 0.00045364 Bitcoin (BTC). During the same time period, APE’s 24-hour trading volume has dipped slightly, standing at roughly 1,791,532,974. This is a 7.01% decrease.

APE also saw a substantial rise in price over longer time periods. According to CoinMarketCap, APE saw an impressive 57.23% increase over the last seven days and a 35.98% increase over the last month.

In addition, the number of APE holders seems to be reaching its peak at around 50,000 holders. The daily increase in the number of holders seems to be cooling down a bit over the last 24 hours as only 208 new wallets became holders of APE. This is after the number of APE holders jumped by around 946 in the 24 hours prior.

An important thing to note is that the number of APE holders has been increasing gradually daily since the project’s launch. This trend is the polar opposite of that seen with rug pulls and scam projects where the adoption rate is parabolic. However, it is still important to do your own research (DYOR).

The decrease in 24-hour trading volume, together with the increase in price over the last 24 hours, is suggestive of investors having a bullish outlook on the project.

The increase in price also means that there is more buying activity than selling activity. This suggests that the remaining new holders that will join the ecosystem are purchasing APE so as to not miss out on the opportunity that the rest of the holders have identified.