Flow

Token

ApeCoin

MN Coin

<ul>
 <li style="font-weight: 400;">APE was up by more than 5% in the last 24 hours.&nbsp;</li>
 <li style="font-weight: 400;">Historically, APE’s token unlocks have caused price drops.&nbsp;</li>
</ul>
Like most cryptos, the price of <a href="https://ambcrypto.com/search/ape" target="_blank" rel="noopener noreferrer nofollow" data-wpel-link="internal">ApeCoin [APE]</a> rose in the recent past after days of bearishness. At the same time, APE awaited its next batch of token unlocks, which could possibly influence the token’s price once again.
ApeCoin bears had a major influence on the token’s price last week, as its value plummeted by more than 19%. However, things turned in the token’s favor. 
According to <a href="https://coinmarketcap.com/currencies/apecoin-ape/" target="_blank" rel="noopener noreferrer nofollow" data-wpel-link="external">CoinMarketCap</a>, APE was up by more than 5% in the last 24 hours alone. At the time of writing, the token was trading at $1.38 with a market capitalization of over $507 million. 
<h4>ApeCoin is awaiting its next token unlock</h4>
As per a tweet by <a href="https://twitter.com/Token_Unlocks/status/1744068685407682772?t=MPJTAXXYUiqo5rNYnOL_-Q&amp;amp;s=19" target="_blank" rel="noopener noreferrer nofollow" data-wpel-link="external">Token Unlocks</a> on the 8th of January, the network was awaiting its next set of unlocks at press time, which would unlock 15.6 million tokens, worth over $22 million.&nbsp;
However, this could be bad news for investors, because, historically, APE has witnessed price drops after unlocks. 
<h4>APE has more concerns to address</h4>
AMBCrypto’s look at Coingecko’s <a href="https://www.coingecko.com/en/nft/bored-ape-yacht-club" target="_blank" rel="noopener noreferrer nofollow" data-wpel-link="external">data</a> revealed that despite the current bullish market, BAYC’s floor price continued to decline. Therefore, the possibility of APE following a similar trend in the coming days seemed likely.
<div id="attachment_362784" style="width: 100%" class="wp-caption aligncenter"><a href="https://statics.ambcrypto.com/wp-content/uploads/2024/01/chart.jpeg" data-wpel-link="internal" rel="noopener noreferrer nofollow"><img aria-describedby="caption-attachment-362784" decoding="async" class="wp-image-362784 size-full" src="https://statics.ambcrypto.com/wp-content/uploads/2024/01/chart.jpeg" alt="" width="1200" height="1200" srcset="https://statics.ambcrypto.com/wp-content/uploads/2024/01/chart.jpeg 1200w, https://statics.ambcrypto.com/wp-content/uploads/2024/01/chart-300x300.jpeg 300w, https://statics.ambcrypto.com/wp-content/uploads/2024/01/chart-1024x1024.jpeg 1024w, https://statics.ambcrypto.com/wp-content/uploads/2024/01/chart-150x150.jpeg 150w, https://statics.ambcrypto.com/wp-content/uploads/2024/01/chart-768x768.jpeg 768w, https://statics.ambcrypto.com/wp-content/uploads/2024/01/chart-80x80.jpeg 80w, https://statics.ambcrypto.com/wp-content/uploads/2024/01/chart-100x100.jpeg 100w" sizes="(max-width: 1200px) 100vw, 1200px"></a>
 Source: Coingecko
</div>
To better understand whether APE has other challenges to tackle, AMBCrypto took a look at Santiment’s data. Our analysis found that the whales were losing confidence in APE at press time.
How much are <a href="https://ambcrypto.com/convert/1-ape-to-usd" target="_blank" rel="noopener noreferrer nofollow" data-wpel-link="internal">1,10,100 APEs worth today</a>?&nbsp;
This was evident from the fact that ApeCoin’s supply held by top addresses declined last week. Nonetheless, the broader market at large continued to buy <a href="https://ambcrypto.com/assessing-what-the-steep-decline-in-apecoins-q3-fdv-meant/" target="_blank" rel="noopener noreferrer nofollow" data-wpel-link="internal">APE</a> as its Supply on Exchanges dropped, while its Supply outside of Exchanges increased.
<div id="attachment_362786" style="width: 100%" class="wp-caption aligncenter"><a href="https://statics.ambcrypto.com/wp-content/uploads/2024/01/ApeCoin-APE-13.49.01-09-Jan-2024.png" data-wpel-link="internal" rel="noopener noreferrer nofollow"><img aria-describedby="caption-attachment-362786" decoding="async" class="wp-image-362786 size-full" src="https://statics.ambcrypto.com/wp-content/uploads/2024/01/ApeCoin-APE-13.49.01-09-Jan-2024.png" alt="" width="3840" height="1300" srcset="https://statics.ambcrypto.com/wp-content/uploads/2024/01/ApeCoin-APE-13.49.01-09-Jan-2024.png 2560w, https://statics.ambcrypto.com/wp-content/uploads/2024/01/ApeCoin-APE-13.49.01-09-Jan-2024-300x102.png 300w, https://statics.ambcrypto.com/wp-content/uploads/2024/01/ApeCoin-APE-13.49.01-09-Jan-2024-1024x347.png 1024w, https://statics.ambcrypto.com/wp-content/uploads/2024/01/ApeCoin-APE-13.49.01-09-Jan-2024-768x260.png 768w, https://statics.ambcrypto.com/wp-content/uploads/2024/01/ApeCoin-APE-13.49.01-09-Jan-2024-1536x520.png 1536w, https://statics.ambcrypto.com/wp-content/uploads/2024/01/ApeCoin-APE-13.49.01-09-Jan-2024-2048x693.png 2048w" sizes="(max-width: 3840px) 100vw, 3840px"></a>
 Source: Santiment
</div>
However, a few market indicators also looked bullish on the token. APE’s Money Flow Index (MFI) and Chaikin Money Flow (CMF) registered upticks, increasing the chances of a continued uptrend at press time.
<div id="attachment_362801" style="width: 100%" class="wp-caption aligncenter"><a href="https://statics.ambcrypto.com/wp-content/uploads/2024/01/APEUSDT_2024-01-09_13-51-12.png" data-wpel-link="internal" rel="noopener noreferrer nofollow"><img aria-describedby="caption-attachment-362801" decoding="async" class="wp-image-362801 size-full" src="https://statics.ambcrypto.com/wp-content/uploads/2024/01/APEUSDT_2024-01-09_13-51-12.png" alt="" width="1815" height="792" srcset="https://statics.ambcrypto.com/wp-content/uploads/2024/01/APEUSDT_2024-01-09_13-51-12.png 1815w, https://statics.ambcrypto.com/wp-content/uploads/2024/01/APEUSDT_2024-01-09_13-51-12-300x131.png 300w, https://statics.ambcrypto.com/wp-content/uploads/2024/01/APEUSDT_2024-01-09_13-51-12-1024x447.png 1024w, https://statics.ambcrypto.com/wp-content/uploads/2024/01/APEUSDT_2024-01-09_13-51-12-768x335.png 768w, https://statics.ambcrypto.com/wp-content/uploads/2024/01/APEUSDT_2024-01-09_13-51-12-1536x670.png 1536w" sizes="(max-width: 1815px) 100vw, 1815px"></a>
 Source: TradingView
</div>

APE rises 5% in 24 hours, but fear of unlock looms large

AMBCrypto

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