Is it Too Late to Buy ApeCoin? APE Price Rallies 10% in a Week But Global Investors are Stacking This Other Meme Coin Instead – Here's Why
As altcoin markets continue to slide south, ApeCoin ($APE) is not exception, with APE holders enduring a -67% decline since January - but a small rally is offering a glimmer of hope.
ApeCoin appears to be surging out of the pits of despair as a +10% rally this week has breathed much needed life into months of cascading price action.
ApeCoin Price Analysis: Is it too Late to Buy APE?
Following the push-up, Apecoin is now trading at a current price of $2.12 (a 24 hour change of -0.05%) as price action moves into a marginal retracement.
With price action seemingly forming a double-bottomed pattern of technical support, the +10% move since Friday 14 seems to be igniting a wave of excitement among long-suffering holders.
And better yet, in a dramatic move, the push up has seen ApeCoin reclaim strong support above the descendant 20DMA - signalling potential footing for a recovery rally could now be on the cards.
With lower trendline support triggering the bounce, attention now shifts to the 200DMA - which remains high above price action around $4.00.
However, there could be a need for consolidation at this level as APE's RSI heated-up quickly on the latest move - surging up to lose bullish divergence at 50.71.
Despite the overheating RSI, the MACD indicator provides more reasons to be cheerful, shifting to signal bullish divergence at 0.038.
The consequent risk: reward structure is alluring, with an upside target at the higher price level around $3.35 (+57%) and downside risk minimal at $1.80 (-14.8%).
This leaves ApeCoin with a risk: reward ratio of 3.85 - suggesting a good entry - that is certainly not too late to enter.
More Reliable Gains: BTC20
Have you ever wondered what it would be like to own an entire Bitcoin? Sat on the side-lines watching BTC making yet another all-time high, pondering how much you could've made if you'd just been around in the early days?
BTC20 is Bitcoin, but better... Built to stand the test of time using ERC-20 proof-of-stake technology as its backbone, BTC20 holds the promise of minting an entirely new generation of Bitcoiners with the added promise of a greener network and passive income generation.
BTC20 Reduces Bitcoin Carbon Emissions by 99.95%
Indeed, for years now Bitcoin's proof-of-work model has drawn massive criticism due to excessively high energy consumption - powered all too often by dirty power-grids contingent on coal-fired power stations.
This has been a leading issue for Bitcoin globally, cited as the reason Beijing banned Bitcoin mining , in 2021 it was reported that the Bitcoin network was responsible for 113 metric tons of carbon emissions.
An outlandish increase from just 0.9 metric tons in 2016, this problem is only set to get worse as future halving events and increased difficulty rates in future take their toll on miners.
BTC20 is the solution to this challenge, offering a shift to far cleaner and less demanding proof-of-stake blockchain technology for future Bitcoin transactions.
But this is more than just a sustainable solution to Bitcoin's dirty energy problem, BTC20 has become an opportunity to re-imagine the way Bitcoin benefits holders.
Staking Rewards for Bitcoin Through BTC20
Holder benefits will be delivered through a novel stake-to-earn mechanism, set to launch in Q4 of this year, offering the promise of double-down rewards for those committed to holding, with rewards issued proportionally to staking quantity.
The staking mechanism will seek to distributed a huge swathe of locked tokens (a minimum of 14.95m unsold in the presale) in a gradual token release set to match the Bitcoin network.
Staking rewards are tied to both the staking quantity and blocks validated, with 6.5 BTC20 per 1 block validated forming the bedrock of the staking rewards.
This can be seen in the example below, where if a holder stakes 5,000 BTC20 for a one year period, they will receive approximately 3,285 BTC20 in rewards - given a rough APY of 65.70%.
At an alluring presale price of just $1 per BTC20 token, interest is surging as Bitcoiner's race to secure a slice of the 3 million tokens up for grabs in the presale.
Imagine the possible growth, if BTC20 gains even 10% of Bitcoin's market cap (10% = $58bn today) then BTC20 would be worth $2,790 - a 278,900% increase.
With a tokenomic supply mirroring Bitcoin at 21m tokens, and a dedicated team of developers working on a roadmap with a 120 year view - the long-term sustainability of this project could very well outlive the original Bitcoin itself.
BTC20 has already gained traction with leading crypto analysts such as Jacob Bury, testament to the skyrocket traction surrounding the launch of the BTC20 presale.
You can read the BTC20 whitepaper here to familiarise yourself with the next-generation technology underpinning this exciting project. Also don't miss the chance to connect early with fellow holders on the BTC20 twitter here.
Don't miss your chance to join the ranks of early Bitcoin backers - become a wholecoiner today.
Disclaimer: Crypto is a high-risk asset class. This article is provided for informational purposes and does not constitute investment advice. You could lose all of your capital.