Here Is Why ApeCoin ($APE)Price Surged 20% Hitting Record High!

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The recently launched ApeCoin (APE), the native token on the Bored Ape NFT collection, is now among the top 35 cryptocurrencies by market capitalization. This coin was created to support web3 features like gaming, art, storytelling, and many others which have pushed the price to rally.

Today, Wednesday, the ApeCoin (APE) has rallied to a record high after the speculations over the announcement of its upcoming metaverse launch to be made by Yuga Labs founder.

In March, Yuga Labs launched a teaser trailer featuring its upcoming metaverse known as Otherside. There isn’t anything much revealed about the project except the fact that it will be a metaverse that will also include Apecoin and several NFTs.

Also Read : Apecoin (APE) Price Primed to Enter the Top 20 by Forming a New ATH beyond $30 Soon!

As per Yuga Lab’s statement, more details were said to be given this month, April. Also, Yuga had launched Apecoin in March to support the project. Hence today, April 20 is a crucial date for ApeCoin meme culture, so the Yuga Lab’s announcement could be done anytime now. Also on April 23 Bored Ape Yacht Club will complete one year.

As per Bored ape owner, @renegademaster, Yuga is said to launch land sales for its project soon.

ApeCoin PriceAction

ApeCoin’s APE had a leap of over 23% in the past 24hrs which was very much close to the record high of the $16.47 range. At the time of reporting, ApeCoin is trading at $16.20 with an increase of 31.90% over the last 24hrs. This last surge has seen APE jump ahead of Decentraland (MANA) to be the largest metaverse token with its market value of $4.3 billion.

APE Gains Whale Interest

The Whalestats data reveals that ApeCoin’s APE token is the fifth-most purchased token by ETH whales over the past 24hrs and on an average this costs $63,500 worth of tokens that have been moved in each transaction.

An ETH whale known as “BlueWhale0093” acquired nearly 300,000 tokens at $3.9 million accounting for the largest transaction involving APE tokens in the past 24hrs.