- ApeCoin (APE) whales bought hundreds of thousands of tokens after the launch of ApeChain, contributing to the worth correction.
- Massive APE transfers to Wintermute Buying and selling OTC and OKX point out a possible shift in market sentiment.
- Regardless of the latest hype round ApeChain, the worth of ApeCoin has dropped and technical indicators are pointing to a potential consolidation section.
ApeCoin is on the transfer throughout a number of wallets, suggesting a selloff which may be driving the latest worth correction.
A dormant pockets related to ApeCoin transferred 4.58 million APE ($5.22 million) to Wintermute Buying and selling OTC, certainly one of a number of notable outflows for the reason that launch of ApeChain 4 days in the past.
The worth spiked after the launch of ApeChain, resulting in high-value transactions involving the three most important wallets that first obtained APE from the ApeCoin distributor in 2022. These wallets have now transferred a complete of 12.47 million APE ($17.54 million) to Wintermute OTC.
The common promoting worth of APE is $1.407, with a complete outflow of 12.467 million tokens price $17.541 million.
The worth of APE has fallen from its post-October 20 peak. Important outflows on October 22 and October 24 contribute to downward worth momentum.
Whale actions and liquidity exchanges proceed
In one other transaction, an APE whale dumped and deposited 7.767 million APE ($11.98 million) into the OKX pockets.
This whale has been lively on the APE market since February 2023 and nonetheless holds 5.94 million APE ($9.05 million) in stakes. Nonetheless, the whale reportedly misplaced $4 million (-6.5%).
Even with the excessive exercise round APE, the worth of the token has fallen within the final 24 hours. ApeCoin fell by 5.74% and its worth dropped to $0.061056. This downtrend began earlier in the present day and reveals no indicators of stopping.
Market knowledge from Binance reveals that the worth of ApeCoin surged and peaked above $1.80 earlier than falling again to $1.17 on October 24, 2024. Technical evaluation means that APE is coming into a consolidation section.
The MACD stays bullish, however the histogram is narrowing, probably signaling fading upside momentum.
In the meantime, the RSI is sitting at 60.82, indicating that the asset stays close to overbought territory.
Disclaimer: The data supplied on this article is for informational and academic functions solely. This text doesn’t represent monetary recommendation or recommendation of any variety. Coin Version shall not be responsible for any losses incurred on account of the usage of mentioned content material, services or products. Readers are suggested to train warning earlier than taking any motion associated to the Firm.
