Is the APE coin worth buying???
1. Fundamental analysis of ApeCoin (APE)
What is this project:
• ApeCoin (APE) is a governance token for the Ape ecosystem, which includes:
• Bored Ape Yacht Club (BAYC) - the famous NFT monkey collection.
• Otherside - the metaverse platform from Yuga Labs.
• Partner games, projects, events.
• The APE token is used for:
• Voting on decisions in DAO (Decentralized Autonomous Organization).
• Payments in some metaverse projects.
• Potential game integrations.
Fundamental pros:
• Major partners: Yuga Labs - a strong brand in the world of NFTs.
• Large community: BAYC has one of the most famous fan bases in the crypto world.
• Integration into metaverses: ApeCoin is the proposed currency for games and metaverses.
Fundamental cons:
• Strong correlation with NFT hype: if interest in NFTs declines, APE suffers.
• High token inflation: large token emissions for investors and the team in the future may pressure the price.
• Dependence on the success of metaverses: the Otherside metaverse is still in its early stages, it is unclear how popular it will become.
Current conclusion on fundamentals:
ApeCoin is an interesting project with a loud name, but it is high-risk as it is fully dependent on NFT trends, metaverses, and community activity.
Technical Analysis.
Unfortunately, technical analysis of coins is simple.
If faith - then you're a fool!
If logic - no.
This is not advice and I do not encourage anyone; everyone makes their own choices with their funds. Study the information yourself, seek like-minded individuals, and remember that risk is always present.
But looking at the chart, it's the right time to jump in. The bottom.