Blast

Arbitrum

ApeCoin

Pyth Network

<p class="is-style-lead">ApeCoin, the popular cryptocurrency launched by the Bored Ape Yacht Club creators, rose to its highest point in three months.</p> 
<p>ApeCoin (<a rel="" href="https://crypto.news/price/apecoin/">APE</a>) reached a high of $0.892 on Tuesday, Sep. 10, marking its highest point since July 3, and 90% above its lowest point this year.</p> 
<p>Its recovery occurred as most cryptocurrencies bounced back, with Bitcoin (<a rel="" href="https://crypto.news/price/bitcoin/">BTC</a>) jumping to $57,000 after falling to $52,000 last week. The crypto fear and greed index also shifted from the fear zone of 30 to the neutral point of 46.</p> 
<p>ApeCoin’s rally has been fueled by anticipation of the upcoming ApeChain mainnet launch. The new chain will be built on top of Arbitrum (<a rel="" href="https://crypto.news/price/arbitrum/">ARB</a>), the largest layer-2 network in the crypto industry. It will focus on content, tools, and distribution, with APE serving as the gas token for the ecosystem and as the governance token.</p> 
<p>ApeCoin’s price also surged after developers announced their integration with Pyth Network, one of the largest oracle providers in the industry. An oracle securely brings off-chain data to the blockchain.</p> 
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter">
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   <p lang="en" dir="ltr">Pyth Data is coming to ApeChain by <a href="https://twitter.com/apecoin?ref_src=twsrc%5Etfw" target="_blank" rel="nofollow">@apecoin</a> 🔮<br><br>ApeChain is an Optimistic L3 settling on <a href="https://twitter.com/arbitrum?ref_src=twsrc%5Etfw" target="_blank" rel="nofollow">@arbitrum</a> One launched permissionlessly with Arbitrum Orbit. <a rel="nofollow" href="https://t.co/JlhM8eDYad" target="_blank">pic.twitter.com/JlhM8eDYad</a></p>— Pyth Network 🔮 (@PythNetwork) <a href="https://twitter.com/PythNetwork/status/1831814726814474651?ref_src=twsrc%5Etfw" target="_blank" rel="nofollow">September 5, 2024</a>
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  <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script> 
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<p>Developers also unveiled a strategic blueprint ahead of the ApeChain mainnet launch. As part of its <a href="https://nftnow.com/news/apecoin-reveals-community-initiatives-ahead-of-apechain-launch/" target="_blank" rel="nofollow">roadmap</a>, the project plans to align with Arbitrum by focusing on a user-centric ecosystem. The team aims to leverage partnerships with well-known brands to attract more developers and users.</p> 
<p> You might also like: <a rel="" href="https://crypto.news/apecoin-unveils-blueprint-for-apechain-to-woo-creators/"> ApeCoin unveils Blueprint for ApeChain to woo creators </a> </p> 
<p>The challenge, however, is that the layer-2 industry has become highly saturated, with networks like Base, Optimism, Polygon, and Blast having substantial market share. Also, the Bored Ape Yacht Club ecosystem has struggled, with data showing that <a href="https://crypto.news/bored-ape-yacht-club-nft-collection-plummets-over-90-from-600k-peak/" target="_blank">sales and the floor price </a>have dwindled.</p> 
<h2 class="wp-block-heading" id="apecoin-price-analysis">ApeCoin price analysis</h2> 
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 <img loading="lazy" decoding="async" width="3574" height="1986" src="https://crypto.news/app/uploads/2024/09/ApeCoin-price.png" alt="Apecoin price" class="wp-image-14297008">
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  ApeCoin price chart | Source: <a href="https://www.tradingview.com/symbols/APEUSD/?exchange=COINBASE" target="_blank" rel="nofollow">TradingView</a>
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<p>The daily chart shows that the APE price has bounced back in recent days. This rebound began when the token bottomed at $0.566, forming a double-bottom pattern with a neckline at $0.802.</p> 
<p>In technical analysis, a double-bottom is considered one of the most bullish patterns. Notably, APE has crossed above the 50-day Exponential Moving Average, while the Relative Strength Index has moved closer to the overbought level.</p> 
<p>As a result, the coin may continue rising as buyers target the 23.6% Fibonacci Retracement level at $1, which is about 22% above the Sept. 10 levels.</p> 
<p> You might also like: <a rel="" href="https://crypto.news/apecoin-launches-testnet-for-its-layer-2-solution-apechain/"> ApeCoin launches testnet for its layer-2 solution ApeChain </a> </p>

ApeCoin surges, more gains likely before ApeChain launch

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