Apecoin to Hit USD 27 by End 2022 - Survey

Bored Ape #835. Source: opensea.io

 

The price of less than two-month-old apecoin (APE) might jump from its current level of around USD 15 to USD 27 at the end of this year, according to an average estimate by a panel of fintech industry representatives. 

At 12:06 PM UTC, APE traded at USD 15.60 and was down 9% in a day, trimming its monthly gains to almost 21%.

Meanwhile, some 75% of the panel’s participants said APE will become “another memecoin” and 20% claim it has future utility, per a recent report issued by comparison site Finder. The remaining 5% of the participants were unsure about the coin’s future. 

Fred Schebesta, Co-founder of Finder, predicts that the token, which is run by the ApeCoin Decentralized Autonomous Organization (DAO), could trade at around USD 20 for the close of 2022, but then reach the USD 50 mark by the end of 2025, and USD 100 to close out 2030.

“I think the founders of APE have high intentions to put APE to use. Probably not to buy land (as expected), but other things like buying merch when owning an ape [an NFT] is what it will be used for,” he said.

Joseph Raczynski, a technologist and futurist at Thomson Reuters, said the token could hit USD 100 by 2030, driven by its use within the ecosystem built by Yuga Labs, the company behind the Bored Ape Yacht Club (BAYC).

APE “could be absolutely humongous. Yuga Labs are the blue-chip of NFTs, now that they purchased CryptoPunks. Their ecosystem, using APE has the potential to be a game-changer for the metaverse. They are all about community and this one is doing all the right things at the moment,” according to Raczynski.

An entirely different point of view is offered by Matthew Harry, Head of Funds at DigitalX Asset Management, who said APE’s value is based on hype. For this reason, he has a 2030 price prediction of USD 0.

The coin “looks to be an obvious play on the currently hyped themes of DAO's, Web3, and BAYC/Degen. Have seen a thousand iterations of hypecoins designed to bring fresh retail capital into the space and not deliver,” Harry was quoted as saying.

At the same time, the panelists said that ethereum (ETH) is set to be the top-performing coin of 2022, with 87% placing the coin among their top five picks. ETH is followed by bitcoin (BTC), at 71%, and Solana (SOL), with 55%.
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