ApeCoin (APE) has seen a significant surge recently, up more than 60% in the last 24 hours and nearly 75% in the last two weeks. Here’s a breakdown of the key factors driving this rally:

1️⃣ Bullish Market Sentiment: After hitting a low of around $1.30 on November 21, the APE price has surged. Bullish traders have placed large buy orders, showing strong confidence that APE can rise further. This momentum has pushed the price above critical resistance levels.

2️⃣ Increase in the Number of Long-Term Holders: There has been a noticeable shift in the dynamics of APE investors. The number of long-term holders has increased, indicating growing confidence in the token’s future potential. This shift suggests that many believe that the price of APE will continue to rise in the long term.

3️⃣ Higher Demand on Exchanges: The circulating supply of APE on exchanges has increased, indicating greater interest from buyers. As more investors hold APE in their wallets, this reduces the available supply for trading, which could lead to higher prices when demand surges.

4️⃣ Technical Indicators Support: APE has shown stability around its 10-day and 100-day moving averages, suggesting that the token could be laying a solid foundation for further gains. The bullish momentum is supported by technical signals that point to lower correction levels during its current price action.

5️⃣ Social Media Hype: APE is trending on social media, with a mix of bullish and neutral sentiment among crypto enthusiasts. Increased visibility and discussions around the token could help maintain its momentum as more investors take notice.

🔥 What's next for ApeCoin?

With ApeCoin trading well below its all-time high of $27.79, there is still plenty of room for gains if the current momentum continues. Key resistance levels to watch are $1.70 and $2.14, while support is found around $0.80.

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💬 What do you think?

What do you think about ApeCoin's recent rally? Do you think this momentum will continue or is a correction coming soon? Let me know in the comments!👇

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