Ape Coin Price Prediction: 2023 to 2032 [Up To $218?]

ApeCoin is a cryptocurrency inspired by the famous NFT collection, the Bored Ape Yacht Club. The recent release of ApeCoin has added another ape-based asset to the crypto market, which could have massive potential in the future.

Many high-profile names now own one of these premium digital assets which has undoubtedly propelled Bored Ape Yacht Club NFTs to the public’s consciousness. This ERC-20 token is used for governance purposes in the APE ecosystem. APE powers the community that is currency building at the forefront of web3.

In this ApeCoin price prediction, we will try to analyze the price of Ape coin and attempt to make a price forecast.

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Ape Coin price prediction

Table of Contents

What is Ape coin?

ApeCoin (APE) is a cryptocurrency intended to support the development of a decentralized web3, inspired by one of the most famous and valuable NFT collections: the Bored Ape Yacht Club.

APE is a fungible, ERC-20 token built on the Ethereum blockchain that was originally airdropped to the Ethereum wallets of anyone who owned an NFT that was a part of the Bored Ape Yacht Club (BAYC) or its cousin collection the Mutant Ape Yacht Club (MAYC). It was one of the most valuable airdrops in crypto history with each holder of a BAYC NFT claiming over $100,000 worth of APE at launch.

Holding APE makes you part of the Ape decentralized autonomous organization (ApeDAO). You can vote on system improvement proposals and govern the community surrounding the token.

In addition to network governance, APE can be used as a utility token—or currency—in web3 projects like games and metaverse worlds.

The crypto is for bookkeeping, administration, project management and other tasks needed to ensure the DAO community can build new Web3 applications and services, such as the APE NFT coin itself.

ApeCoin’s main focus is decentralisation and through the APE Improvement Proposal Process. ApeCoin DAO members can make decisions about Ecosystem Fund allocations, governance rules, and upcoming projects and partnerships.

The ApeCoin Foundation has a board that oversees the community and carries out DAO proposals. The board is meant to serve a term of six months and is voted in by DAO members.

The members of the board as of writing this are:

Reddit co-founder Alexis Ohanian
Animoca Brands co-founder and chair Yat Siu
Horizen Labs president and general counsel Dean Steinbeck.
FTX head of ventures and gaming Amy Wu. She has since resigned following the unravelling of Sam Bankman Fried’s scam.
Sound Ventures principal Maaria Bajwa

Days after launch on March 17, the price fluctuated wildly, swinging from as high nearly $40, to as low as $6.48. Even with the price swings, there’s a lot of interest in ApeCoin as it traded more than $2.3 billion in volume on Coinbase on March 24 alone. It became the fourth most mentioned cryptocurrency across Twitter and Reddit posts.

Background of Apecoin

The original BAYC collection was developed by Yuga Labs. The company was launched in February 2021 and its three collections—BAYC, MAYC, and the Bored Ape Kennel Club (BAKC)—helped drive $127 million in revenue that year.

Yuga Labs’ CEO is Nicole Muniz. She is a former partner at advertising company B-Reel and is known for starting her own boutique consulting agency.

ApeCoin holders get to decide what direction the ecosystem will develop in and can vote on how ApeCoin DAO funds will be distributed.

62% of all APE tokens were allocated to the ApeCoin ecosystem fund to be used to carry out the project’s initiatives.

Apecoin (APE), the native cryptocurrency of the non-fungible token (NFT) collection Bored Ape Yacht Club (BAYC), became the biggest metaverse token by market capitalization shortly after it was released in 2022. It dethroned Decentraland’s coin (MANA), which was created in early 2020.

Investors have divided opinions on ApeCoin cryptocurrency; some support it fully but others expect its bubble to burst.

The BAYC

Launched in April 2021, Bored Ape Yacht Club (BAYC) features 10,000 unique Apes residing on the Ethereum blockchain. Each of these unique digital collectibles features a different look, style and rarity. The collection showcases algorithmically generated profile pictures of cartoon apes.

Mutant Ape Yacht Club (MAYC)

It is an NFT basket of up to 20,000 mutated versions of the BAYC Apes. The MAYC helps onboard new members to the Ape community. Original BAYC NFT holders got 10,000 mutant serums.

Bored Ape Kennel Club (BAKC)

The Bored Ape Kennel Club (BAKC) is an assortment of dog NFTs made available to every single member of the BAYC. If you hold Bored Ape NFT you can adopt a random Club Dog NFT, while just paying for gas. BAKC NFTs also have their own rarities.

Otherside metaverse

In April 2022, Yuga Labs began minting Otherside metaverse lands. Within 45 minutes, the virtual real estate clocked the value of $100,000 and raised a total of $320 million.

Ape Coin Overview

APE is an ERC-20 cryptocurrency designed on the Ethereum (ETH) protocol. Apart from governance, the token:

Provides holders with access to certain parts of the ecosystem that are unavailable to others, such as exclusive games, merchandise, events and services.
Can be incorporated into other services, games and projects.

Apecoin was launched through an airdrop, which allowed some holders to receive the tokens as rewards. The cryptocurrency’s total supply stands at one billion. No new tokens can be minted.

When it was released, the token’s total supply was as follows:

62% to the ecosystem’s fund and given to BAYC and Mutant Ape Yacht Club (MAYC) NFT holders.
16% to Yuga Labs and charity.
14% to the companies and people that helped to create the project.
8% was allocated to the BAYC founders.

It is important to note that since apecoin is based on the Ethereum blockchain, is a token and not a coin.

How does ApeCoin work?

ApeCoin DAO members vote as a community on issues impacting the direction of the ecosystem’s growth. They vote on how rules are enforced, how funds are allocated, what partnerships to pursue, and which projects to undertake.

The DAO’s decisions are implemented by the ApeCoin Foundation, DAO’s legal representative. The Foundation has a 5-member board that is responsible for ensuring the community’s vision is being implemented as the ecosystem continues to develop. APE holders vote to determine the Board’s membership on a yearly basis.

How is the APE token used?

ApeCoin is designed to be used in web3 and metaverse projects, but perhaps the most notable one (which came soon after ApeCoin’s release) was the release of Otherside land NFTs.

Otherside is Yuga Labs’ BAYC-connected metaverse. When the company announced the minting of 55,000 parcels of digital real estate NFTs called “Otherdeeds,” they were priced in APE. In total, Yuga Labs generated more than $300 million through the sale—all transacted in ApeCoin.

However, the use of ApeCoin is not limited to projects developed by Yuga Labs. Animoca Brands’ Benji Bananas is a play-to-earn (P2E) game in which players can realize their gains in the form of ApeCoin. It is the vision of ApeCoin’s creators that this kind of adoption expands and continues into the future.

Apecoin Price Chart

Let’s now take a look as some of the apecoin past price data. While past performance should never be used as an apecoin price forecast, knowing what the token has done can give us some useful context when it comes to either making or interpreting an apecoin price prediction.

The APE NFT crypto saw its value surge by 126.8% on the first day of launch, reaching $16.47, up from $7.2604 in less than 24 hours, as seen on the price chart below. The coin retreated to $14. 03 by the end of the day and falling to just above $9 on 21 March 2022.

The APE token price had climbed back to over $14 by 24 March, as anticipation grew ahead of the first ever ApeCoin DAO voting event. The cryptocurrency peaked at $15.43 on 28 March 2022 before going bearish.

In April 2022, the APE token price peaked on three occasions:

On 10 April at $12.27, after the Bored & Hungry restaurant in California became the first catering establishment to accept payments in ether (ETH) and apecoin (APE).
On 21 April at $17.31, following the announcement that ApeCoin was cooperating with the OliveXFitness Metaverse to grant APE token holders special access to the metaverse’s move-to-earn Dustland games.
On 29 April at $26.19, as three new proposals were opened for ApeCoin DAO members to vote on.

On 30 April 2022 OpenSea announced that it would start accepting the APE cryptocurrency for NFT purchases on its platform. This led to a one-day gain of over 30% as the APE price rose to just below $25.

Following 102% of gains in April 2022, the APE NFT coin chart started on a downwards trend. It plummeted over the following months, dropping below its launch price at the end of May.

APE then stooped to a 90-day low of $2.63 on 14 November following the collapse of the FTX (FTT) exchange but managed to recover to $4.54 on 11 December before sinking to a low of $3.27 on 17 December. APE closed the year at $3.64 and rallied in the New Year, breaking past $5 on 10 January and trading at around $4.85 the following day.

At that time, there were 361.26 million apecoin in circulation out of a total supply of one billion. This gave it a market cap of about $264m, making it the 28th largest token overall and the largest NFT and metaverse related crypto by that metric.

ApeCoin Price Prediction

Technical analysis is a useful tool for predicting trends on a chart. However, recently many people have started trading with bots that have technical analysis concepts programmed into them. While this is a ApeCoin price prediction based on technicals, please do your own research and trade based on your own knowledge and ability.

According to the deep technical analysis of ApeCoin, it is expected to trade at a minimum price of $7.58 in 2023. The maximum price of APE coin is expected to be $9.12 and the average price around $7.81.

If you are looking to invest in digital cryptocurrencies and want a good return on your investments, make sure to proceed in this read to get a good understanding of the Apecoin price and predictions.

Disclaimer

Before we even start this, I should clarify that past performance is not indicative of future results, and you should always approach trading with a set of fundamental principles that guide your trades. Historical data and technical price analysis help but they are not always conclusive. That being said, we have to acknowledge that crypto prices are arguably the hardest ones to predict because they are complex instruments we are still learning about. That shouldn’t stop you from taking into account experts’ opinions and forecasts when investing because they may give you a different perspective concerning factors that may affect future price forecasts of the cryptocurrencies.

Although we have Apecoin price predictions information, this is not indicative of ape coin price forecast.

This is not investment advice, and you will be better off doing your own research before getting involved with the crypto market. If possible, talk to your financial advisor if you intend to invest in the crypto market because if you get it right, historical price analysis can help.

Ape Price Prediction 2023-2032

ApeCoin may remain rangebound in the near term. It might be best to wait until a breakout above $5.40 or a breakdown below $4.96 to make a trade. The technical indicators are showing the bears have the upper hand currently, with bulls defending the $4.96 level and bears targeting the next support levels of $4.77 and then $4.59.

ApeCoin Price Prediction 2023

The ApeCoin price prediction for 2023 suggests ApeCoin will pick up on a bullish trend in the next months of 2023, and our prediction suggests a maximum value of $8.74. The average trading price of Ape is expected to be $7.37, and a minimum price of $7.16.

ApeCoin Price Prediction 2024

In 2024, ApeCoin’s average forecast price is expected to be $10.30 while the minimum value $9.93. ApeCoin’s price could surge to a maximum price of $12.12.

ApeCoin Price Prediction 2025

The ApeCoin price prediction for 2025 suggests APE coin could trade at a minimum price of $14.89 with an average trading value of $15.41. The maximum price is expected to be $17.47 by the end of the year.

Apecoin Price Prediction 2026

ApeCoin price prediction for 2026 expects the altcoin to trade at a minimum value of $21.84 and an average trading price of $22.61. A bullish trend could take the APE coin’s price to a maximum forecast of $26.10.

ApeCoin Price Prediction 2027

ApeCoin price prediction for 2027 suggests the bullish sentiment will continue, and the minimum price expected is $31.40 and an average trading price of $32.53. ApeCoin could surge to a maximum price of $32.53.

ApeCoin Price Prediction 2028

ApeCoin price prediction for 2028 suggests ApeCoin might potentially attain a minimum price of $43.29 and an average forecast price of $44.59. Apecoin might surge to a maximum price of $54.98.

ApeCoin Price Prediction 2029

The APE price prediction for 2029 is the APE token to trade at a minimum price of $63.83 and an average price of $66.06. ApeCoin forecast for 2029 suggests APE tokens could potentially reach a maximum price of $75.77.

ApeCoin Price Prediction 2030

The ApeCoin price prediction for 2030 suggests ApeCoin could hit a minimum value of $91.48 and an average forecast price of $94.12. The coin might reach a maximum price of $110.52 by the end of 2030.

ApeCoin Price Prediction 2031

In 2031, Our ApeCoin price prediction suggests the price of ApeCoin could trade at a minimum value of $125.55 and an average forecast price of $130.26. APE coin might surge to a maximum price of $156.46.

ApeCoin Price Prediction 2032

The ApeCoin price prediction for 2032 is APE to trade at a minimum price of $175.53 and an average forecast price of $182.04. A bullish trend could take the APE coin to a maximum forecast of $218.63.

Is Ape coin a good investment?

It is hard to say. A lot will depend on how the market performs as a whole going forward.

Remember, you should always carry out your own thorough research before making an investment. Even high market cap cryptocurrencies can be affected by bear markets, so investors should be prepared to make losses and never purchase more than they can afford to lose.

Conclusion

According to technical analysis, Ape coin seems like a sensible investment to hold on to for the long term and not short term. Although the analysis indicates that Ape coin will keep going up, the future price is also subject to market forces that often dictate how cryptocurrencies will perform.

That being said, you should not ignore the fact that the market, particularly that of cryptocurrencies is inherently volatile. In 2022, it experienced both bullish and bearish trends. However, no one can say that it is guaranteed to rise because it can easily drop just as fast.

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David Fortune

David Fortune has been the editor NoBSIMReviews.com since 2019. He is an expert at writing content on stock advisory services, side hustles, reviewing online business opportunities and many more topics. You can learn more about David on our about us page.

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