Apecoin’s price is approaching a significant level of $8.5, which will see it trade at a price level it has not traded in over two months. As the crypto approaches a significant price level, the platform has continued to engage its users in its development and expansion.
According to reports, the Apecoin DAO community’s latest approval involved funding of a news site that is centric on its own brand. The report indicated that $150,000 would go to Bored Ape Yacht Club (BAYC)-a centric news publication which will be called Bored Ape Gazette for one year.
The platform has also continued to make bold steps towards marking another comeback in the industry. According to the latest reports, Apecoin is reported to be finalizing details that will be the basis for its next update that will see the platform become in line with the AIPs-21 and 22. The report also indicates the planned update has already been granted to Horizon Labs, a company that will be the official partner in the development of the upgrade.
The two combined moves by Apecoin highlight the platform’s continued efforts to make a major company after the company entered into a strong and aggressive bear move immediately it was launched. Today, despite being in a bullish trend for the past few days, the crypto is already down by over 70 per cent from its price high, which happened weeks after Apecoin’s launch.
Apecoin Price Prediction
Today’s strong push to the upside by Apecoin price gives a sign that the current trend may be a price reversal. This is confirmed by the fact that Apecoin has been in the current aggressive push to the upside since mid-June, resulting in a 120 per cent price gain.
Therefore, I expect the price to continue increasing for the next few trading sessions. There is a high likelihood that we will see prices trading above $8.5. In my last analysis, I also indicated that the Apecoin price may hit the $8.5 price level.
Unfortunately, despite reversing the trend, the bullish push to the upside has not been aggressive enough to hit and break the price level. However, should the price trade blow the recent price low of $5.4, then my analysis will be invalidated. It will also mean the bullish trend has ended.