ApeCoin Rises 66% - But What is Preventing APE from Reaching $1.80?
Recently, ApeCoin (APE) has performed excellently in the cryptocurrency market, attracting the attention of numerous investors and enthusiasts. In the past 24 hours, APE surged over 60%, with a price increase of 66%, successfully making its way back into the top 100 cryptocurrencies.
After the mainnet launch and the bridge release, APE's value doubled in just two days. Currently, APE is trading around $1.80, showcasing strong upward momentum. The launch of the Ape Express platform has played a significant role in this. The platform attracted over 137,000 unique visitors and generated considerable trading volume within 24 hours, injecting new vitality into APE's value.
In terms of holders, approximately 22,000 APE wallets hold 179 million tokens, with the total number of holders exceeding 150,000. Moreover, whale holdings have significantly increased from their low in August. This change not only indicates enhanced market confidence in APE but also attracts new investors to join.
However, despite APE's current positive development trend, there are still some factors that may prevent it from reaching $1.80. Among them, the possibility of holders cashing out is an important risk factor. If a large number of holders choose to cash out at the current price level, it could hinder APE's rebound.
Overall, ApeCoin has achieved a significant increase recently, but to achieve sustained growth and break through the $1.80 target, it still faces numerous challenges. Market participants need to closely monitor holder behavior and the overall dynamics of the market to better grasp APE's future trends.
