$APE update 🦍
Not gonna sugarcoat it — APE's had a brutal run. Sitting around $0.13-0.14 now after breaking below key support in early August, down almost 99% from the $39 ATH back in 2022. Price is stuck under every major moving average and RSI is basically flat, no real momentum either direction right now.
But there's more going on under the hood than the chart shows. Yuga Labs just dissolved the old ApeCo structure to bring everything back under one roof — could mean faster execution on ApeChain and Otherside, but it's also a centralization risk if they fumble it. On the utility side, ApeChain (their L3 for gaming/metaverse) is still the main thing bulls point to, plus the RAID expansion pushing APE onto Solana and BNB Chain to widen the DeFi footprint.
One thing worth noting — supply unlocks are basically done, ~90% of total supply is already circulating. So dilution isn't the boogeyman it used to be. From here it's really a demand story: does ApeChain pull in real users/devs, does BAYC stay culturally relevant, does the broader alt market wake up.
Not a chart I'd chase right now. Watching for a reclaim of $0.16-ish before I'd call this anything more than dead cat territory. Keeping it on the radar, not in the bag.
NFA, just tracking it 👀#ApeLove_Crypto #ApeXEdge_01
Not gonna sugarcoat it — APE's had a brutal run. Sitting around $0.13-0.14 now after breaking below key support in early August, down almost 99% from the $39 ATH back in 2022. Price is stuck under every major moving average and RSI is basically flat, no real momentum either direction right now.
But there's more going on under the hood than the chart shows. Yuga Labs just dissolved the old ApeCo structure to bring everything back under one roof — could mean faster execution on ApeChain and Otherside, but it's also a centralization risk if they fumble it. On the utility side, ApeChain (their L3 for gaming/metaverse) is still the main thing bulls point to, plus the RAID expansion pushing APE onto Solana and BNB Chain to widen the DeFi footprint.
One thing worth noting — supply unlocks are basically done, ~90% of total supply is already circulating. So dilution isn't the boogeyman it used to be. From here it's really a demand story: does ApeChain pull in real users/devs, does BAYC stay culturally relevant, does the broader alt market wake up.
Not a chart I'd chase right now. Watching for a reclaim of $0.16-ish before I'd call this anything more than dead cat territory. Keeping it on the radar, not in the bag.
NFA, just tracking it 👀#ApeLove_Crypto #ApeXEdge_01