ApeCoin Eyes $10 Ahead Of Staking, Could This Be A Bullish Catalyst?

APE looks bullish ahead of staking as this could be one of the most anticipated stakings in crypto. Price reclaims 50 exponential moving average (EMA) on the daily timeframe  ApeCoin price breaks out of an asymmetric triangle setting up a bullish scenario ApeCoin (APE) has seen more turbulent times than a rosy start as its price tumbled from $27 to $4 but could be set for a major run ahead of its impending staking scheduled to start in the fourth quarter of this year.

Timeline of Apecoin-ape

SPONSORED POST* Big Eyes Coin (BIG) is a new meme currency that is still in its early stages of development; the project is now in the presale phase. The network's ecosystem is rich in features, and with its newfound popularity, the token's value has already risen during its initial price.

ApeCoin has had a long and complex history. When it was first released on March 17, it was immediately put to the test by the same market forces that were responsible for the general crypto market's slump.

During the European session, the ApeCoin is trading sharply bullish, having surged nearly 17% in the last 24 hours. APE is the native coin of the ApeCoin decentralized autonomous organization (DAO), a community-driven initiative created to guide the expansion and development of the Bored Ape ecosystem. 

Disclaimer: The findings of the following analysis are the sole opinions of the writer and should not be considered investment advice. ApeCoin's [APE] knockdown from its early August two-month high found a solid rebounding ground at the $4.2 baseline.

The V-Top reversal from the $5.7 resistance plummeted the Apecoin price below the $5 support. The altcoin is currently in a retest phase, and the post-retest fall may pull the prices to $4.42 support.

The treasury of the ApeCoin DAO is anticipated to release 25 million ApeCoin (CRYPTO: APE) tokens for "launch contributors" on Saturday, which according to the ApeCoin website are "companies and people that helped make this project a reality." Tokens will be allocated to BAYC/MAYC members via the claim page, with approximately $115 million worth of tokens entering the market at the current token price of $4.61, this will increase the number of tokens in circulation by around 8%.

ApeCoin Community members are voting on several proposals to improve the token's utility as its first token unlock nears. The post ApeCoin (APE) Community Votes on Marketplace Proposal as Token Unlock Nears appeared first on BeInCrypto.

ApeCoin (APE), the Bored Ape Yacht Club token, has been rallying over the past week with gains registering at a peak of 4.3% and trading at the $5.12 level. APE shows energy, rallies 4.3% in the past seven days Coin impacted by general crypto slump US inflation also weighing down on crypto price APE is a busy bee and apparently, the recent uptick enjoyed by APE is said to have been ushered by current projects or developments in the network.

The ApeCoin [APE] Decentralized Autonomous Organization (DAO) has taken steps towards providing an APE-powered NFT marketplace. At press time, it was observed that voting had begun proper on all proposals submitted earlier.

Over the weekend, 25 million APE tokens will be released to launch contributors. This will be representing nearly 8% of the circulating supply. This will expectedly be adding up to the selling pressure, as guesses are being made if the launch contributors will sell off their tokens once released.