Apecoin Past Price Performance Last 1 Month:-7.4% Last 12 Months: -75.4% Since Launch (2022): +5.8% BAYC Sales Statistics NFTs Sold: 283 (last 7 days) Trading Volume: $11.8M (last 7 days) Bored Ape Yacht Club Value: Average Price: $41.8k (last 7 days) Total Supply: Number of Tokens: 9,998 Owners: Number of Owners: 5,546 What is Apecoin? ApeCoin is a cryptocurrency affiliated with the Bored Ape Yacht Club (BAYC), based on the ERC-20 blockchain. It serves as a governance token, allowing holders to participate in project development decisions. In appreciation of its community, a portion of ApeCoin’s reserve is dedicated to Bored or Mutant Apes NFT holders through free airdrops, the amount of which depends on the NFT’s rarity and the quantity held by an individual. The coin is multifaceted within the ecosystem, facilitating governance in the DAO, and enabling access to exclusive features like games, events, merchandise, and services. It’s recognized by many merchants, being a perpetual ERC-20 token, and already serves as an NFT reward with BAYC holders receiving free APE tokens. The utility of ApeCoin extends to purchasing game products developed by the BAYC community and integration into third-party developments like games and services. A notable application is in Benji Bananas, a play-to-earn mobile game by Animoca Brands, where players earn special tokens, exchangeable for Apecoin. Despite initial outperformance, Apecoin has struggled to perform over the last few months as the interest in Metaverse has dimmed. Will Apecoin reach $100? In order for Apecoin to reach $100, it would need to increase by a factor of 84.7. At $100, Apecoin’s Market Cap will be $36 Billion. If Apecoin were to grow at a rate of 25% each year, it would take about 19.9 years to reach $100. Let us evaluate this data Quality of Investment- Poor Growth required to reach $100- Feasible (Example: Bitcoin was priced at $0.1 in October 2010. 12 years later, It is 22000 times higher) Market Cap at $100- Partially Feasible Time required to reach $100 if Apecoin were to rise at 25% per annum- Partially Feasible Considering the criteria Quality of Investment, growth required, and time required, Apecoin has very less chances of reaching $100. Will Apecoin reach $1000? In order for Apecoin to reach $1000, it would need to increase by a factor of 847. At $1000, Apecoin’s Market Cap will be $366.7 Billion. If Apecoin were to grow at a rate of 25% each year, it would take about 30 years to reach $1000. Let us evaluate this data Quality of Investment- Poor Growth required to reach $1000- Feasible (Example: Bitcoin was priced at $0.1 in October 2010. 12 years later, It is 22000 times higher) Market Cap at $1000- Not Feasible Time required to reach $1000 if Apecoin were to rise at 25% per annum- Not Feasible Considering the criteria Quality of Investment, growth required, and time required, Apecoin has no chances of reaching $1000 in the near future. Note: Crowdwisdom360 collates Predictions and data from all over the net and has no in-house view on the likely trends in the Index or Individual Stocks. Please consult a registered investment advisor to guide you on your financial decisions. Crowdwisdom360 Crypto Predictions Page
Will Apecoin reach $100, $1000?
