Apecoin Price Analysis: Rising Supply Pressure May Tumble APE By 17%

The ongoing recovery rally in APE price stalled at $7.23 resistance. Despite showcasing several attempts to breach this barrier, the buyers couldn't surpass the $7.23 mark in the past four days.

Timeline of Apecoin-ape

It's been an interesting year so far in the crypto scene. While much of the market has struggled due to overall economic conditions, there are still plenty of hot new projects that have analysts predicting big things.

The bear market has had a negative effect on many tokens, including Ripple (XRP) and Apecoin (APE). The two tokens have made their investors a lot of money in the past; however, as people get more cautious about holding crypto assets in the current market, they have both been losing popularity.

On Friday, the cryptocurrency market gained more ground as traders anticipated an immediate rebound from the inflation crisis. Traders are searching for new crypto investments to protect themselves from market inflation by stabilizing their profits and supplying a more reliable source of income.

Apecoin DAO community members have approved a governance proposal that will fund a Bored Ape Yacht Club (BAYC)-centric news publication called the Bored Ape Gazette with $150,000 for the first year.

Apecoin DAO will fund the Bored Ape Gazette to create a newsletter and to pay the freelancers as we can see more today in our latest cryptocurrency news today. While the NFT market might be slowing down, the Bored Ape Focused news outlet is getting a boost thanks to the ApeCoin DAO treasury.

The popular community-based crypto phenomenon that began with the Bored Ape Yacht Club (BAYC) non-fungible tokens (NFTs) continues to expand. According to a forum post on the website of BAYC's affiliated digital asset ApeCoin (APE), the community has just voted overwhelmingly to boost funding for an online news site called The Bored Ape Gazette.

GNOX, and the crypto markets, are slowly recuperating from months of recession. And it's not just the crypto winter that's to blame, a whole rigmarole of other factors comes into play.

Today, the global crypto market has regained its $1 trillion mark as the major cryptocurrencies are all flashing green. However, a renowned crypto analyst and trader has an update on the most followed cryptocurrencies.

Crypto trading is again stuck in a bearish streak after one of its hardest tokens, ApeCoin, fell below $6 in value. A large number of APE investors are reportedly hopeless with the token after it was trending down for more than 90 days, according to CoinMarketCap.

Investing in cryptocurrency has become popular, but why? The strategies of self-made crypto billionaires include a few effortless methods for increasing your revenue. Even while investing in cryptocurrency can be intimidating if you lack the necessary expertise, it has the potential to multiply your income.