Recent Network Growth of APE Indicates Potential Future Trends
According to a tweet by Santiment (@santimentfeed) this morning, Apecoin (APE) may be worth keeping an eye on due to its recent network growth and address activity. Despite being written off by many crypto traders due to its low price of around $4, APE has shown signs of increased token holder balances, suggesting that retail investors are getting involved and a potential price surge could be on the horizon.
However, the report from Santiment noted that the unpredictable nature of the crypto market means that there is no guarantee of this happening. At present, APE is trading at $4.23 with a 1.64% 24-hour loss and has weakened against Bitcoin and Ethereum by 1.92% and 1.69%, respectively.
The altcoin’s daily trading volume has increased in the last 24 hours, estimated at $97,912,041, which is a 43.63% increase compared to the previous day, and its market cap is currently $1,561,736,887, placing it at number 38 on CoinMarketCap’s list of the biggest crypto projects by market cap.