ApeCoin: Decoding the AIP factor in APE’s growth story

In a recent tweet, ApeCoin revealed that 36 AIPs were in process in the last week and five new AIP ideas were submitted. This looked quite promising as it added value to the ApeCoin network. To clear the cloud, AIP refers to ApeCoin Improvement Proposals, which are suggestions intended to enhance the network. Here’s AMBCrypto’s […]

Nonetheless, a look at APE’s metrics revealed a different story, as they indicated a possible continued downtrend.’s MVRV Ratio went down considerably last week, which is a bearish signal. Moreover, APE’s volume also followed a similar path and decreased over the past few days, further increasing the chances of a price decline.Not only this, but APE’s social dominance and positive sentiments also declined after registering a spike, which suggested less popularity and confidence in the coin.

For instance, the Exponential Moving Average Ribbon suggested a bearish upper hand in the market as the 20-day EMA was resting below the 55-day EMA. Additionally, the MACD also registered a bearish crossover, which might further decline APE’s price in the coming days.However, a slight relief came on looking at the coin’s Relative Strength Index , it was heading towards the oversold zone, increasing the chances of a trend reversal.Subscribe to get it daily in your inbox.

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ApeCoin [APE] could see some gains toward $5, only if…Disclaimer: The information presented does not constitute financial, investment, trading, or other types of advice and is solely the writer’s opinion. ApeCoin might bounce to $5, but the trend was in favor of the bears Can buying pressure overwhelm the sellers as APE approaches resistance? In September, ApeCoin had a sizeable rally from $4.2 to […]
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