ApeCoin (APE) Might Be on Cusp of Major Move as These Metrics Suggest
Something big might be cooking for the fungible governance token ApeCoin (APE), a recent analysis posted by on-chain analytics platform Santiment suggests.
ApeCoin went under the radar after its shot to prominence in 2022, given a relatively calm period of network activity. Now the tide seems to be changing, as according to Santiment, ApeCoin (APE) is seeing its largest network growth spike in two months.
This follows as the 1,142 new APE addresses created on April 7 represented the highest since Feb. 7. Santiment reports increased activity on APE, with token holders increasing their balances. According to it, this might be a sign that retail investors are getting involved and also that a price surge is imminent. Based on precedents, it says that most often when there is increased activity on the network, it can be a sign of something big about to happen. It cited an instance of the Stargate Finance (STG) token, which saw an enormous price increase after a period of increased activity on its network. Santiment predicts that this might also happen in the case of ApeCoin, saying ApeCoin could be in a prime position to benefit even if the market decides to turn around.
Read more on U.Today https://u.today/apecoin-ape-might-be-on-cusp-of-major-move-as-these-metrics-suggest
Something big might be cooking for the fungible governance token ApeCoin (APE), a recent analysis posted by on-chain analytics platform Santiment suggests.
ApeCoin went under the radar after its shot to prominence in 2022, given a relatively calm period of network activity. Now the tide seems to be changing, as according to Santiment, ApeCoin (APE) is seeing its largest network growth spike in two months.
This follows as the 1,142 new APE addresses created on April 7 represented the highest since Feb. 7. Santiment reports increased activity on APE, with token holders increasing their balances. According to it, this might be a sign that retail investors are getting involved and also that a price surge is imminent. Based on precedents, it says that most often when there is increased activity on the network, it can be a sign of something big about to happen. It cited an instance of the Stargate Finance (STG) token, which saw an enormous price increase after a period of increased activity on its network. Santiment predicts that this might also happen in the case of ApeCoin, saying ApeCoin could be in a prime position to benefit even if the market decides to turn around.
Read more on U.Today https://u.today/apecoin-ape-might-be-on-cusp-of-major-move-as-these-metrics-suggest
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