Million

<p><strong>Apecoin has been observing a decline in the overall active address and is trading near $1.27</strong></p>
<p>Apecoin is a ERC-20 governance and utility token within the APE ecosystem. It allows users to participate in the Apecoin Dao ecosystem and decide how the fund should be used. Meanwhile,62% of all the digital assets were allocated to the Ecosystem fund for community driven initiatives. It also gives access to other parts of the ecosystem like events , games, services and many more. Meanwhile, Apecoin DAO members can also decide how the IP of the BAYC should be used in the future.</p>
<p>Apecoin has a supply of 1,000,000,000 and 60.49% of it is circulating in the market. The price of APE reached an all time high on MAR 2022 at $39.40. It is now down by 96% from its ATH and 27% up from its all time low.</p>
<h2 class="wp-block-heading" id="strong-a-look-into-the-ape-ecosystem-strong"><strong>A Look Into The APE Ecosystem</strong></h2>
<div class="wp-block-image">
 <figure class="aligncenter"><img decoding="async" src="https://lh7-us.googleusercontent.com/Fa2OdiZ1RSEpMcBVeEw61XZ0_oIKgLv3D8EgJH7H1v69PRdpnNboFss_s3qvdAYFMmZp-sb8YHhVyBLn5Gmbyt1XMLE7hDxZnc05yzrxiCQGEq3qhZ0S8XbzdmA5teQaW3teWVKidPxquNknL9GuLJ0" alt="">
  <figcaption class="wp-element-caption">
   Source:Dune
  </figcaption>
 </figure>
</div>
<p>APE ecosystem has been observing a decline in the overall treasury from $13 Million to $7 million within a month’s period. The overall successful proposals presented on the network have also taken a dip of over 50%. Previously the ratio of total proposals to successful proposals was around 1 to 1.32 but this month it has reached to 2. It suggests that the community has rejected a great number of proposals this month.</p>
<p>Looking at the BAYC NFT it has a floor price of 17.61 ETH while its competitor cryptopunks has a floor price of 41.5 ETH. The ecosystem is seeing a great surge in the NFT interest. Many analysts are expecting a strong growth in the APE Dao ecosystem in the future.</p>
<h2 class="wp-block-heading" id="strong-is-ape-price-ready-for-2-jump-strong"><strong>Is APE Price Ready For $2 Jump?</strong></h2> 
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<p>Apecoin has a market cap of $781 Million and is ranked 99th as per the market cap. It has seen an overall decline in the volume of 13%. It is currently trading near the value of $1.31 and has gained over 4% in the intraday sessions.</p>
<p>APE has been trading in an upside parallel channel with a strong bullish candles forming on the daily chart.The digital asset is currently trading below the 50 and 100 EMA with a negative crossover in the past. Meanwhile, APE upside trend can see a halt near the value of $1.5. The support for token <a href="https://www.thecoinrepublic.com/2024/04/24/uma-price-prediction-can-uma-return-to-track-amidst-bearishness/" target="_blank" rel="noopener noreferrer nofollow">price</a> can be observed near $1.</p>
<p>RSI of APE is near 41 with a small positive slope in it. The overall trend of RSI is bullish. Meanwhile, MACD of the digital asset suggests a weak upside trend.</p>
<h4 class="wp-block-heading"><strong>Conclusion</strong></h4>
<p>Apecoin has been observing a decline in the overall daily active address. Meanwhile, it has also been losing its market cap in comparison to others. APE has been seeing a weak upside trend on the daily chart. Many analysts are expecting a strong growth in the future.</p>

Will APE Price See A Recovery Despite No Increase In Active Address?

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Thecoinrepublic.com

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