Since its launch, Apecoin’s price has cratered and currently trades at more than 80 per cent below its all-time price high of $39. However, in recent weeks, Apecoin has shown signs of recovery. Today, Apecoin is up by a percentage point and showing signs that we might see a continuation of the bullish trend throughout the session.
Part of the reason we are starting to see the Apecoin price come to life again is the continued development and reinvention of the project. Recently, it has been announced that the project will launch another innovative idea involving staking rewards. The introduction of staking rewards will allow the platform users to earn passive income by staking their crypto holding on the project.
The staking rewards have become popular throughout the cryptocurrency industry and work almost the same way as traditional banks offer interest on the amounts. Stakers will be able to lock their cryptocurrency assets on the platform for a specified time.
The Apecoin platform will allow other users to access your crypto for that specified amount of time and trade it, although it will still belong to you. After the period ends, users are rewarded back their crypto and interest, therefore, earning passively from their holdings. The move will likely bring new investors into Apecoin and see it continue gaining traction, which might push its prices up.
As indicated above, investors are upbeat about Apecoin’s continued development and the introduction of the staking rewards on the platform. The recent price action also shows that, in the past few weeks, Apecoin has performed relatively well compared to other cryptocurrencies.
Therefore, my Apecoin price prediction expects the current bullish trend to continue for the next few trading session. We will likely see it breaking the September price high of $6.4. However, dropping below the $4.6 price level will invalidate my bullish analysis.
This post was last modified on Oct 06, 2022, 14:59 BST 14:59