{"id":68164,"date":"2023-10-03T07:47:37","date_gmt":"2023-10-03T11:47:37","guid":{"rendered":"https:\/\/ifintechworld.com\/markets\/crypto\/is-apecoin-going-to-zero-ape-price-plummets-8-as-latest-meme-coin-project-takes-all-the-limelight\/"},"modified":"2023-10-03T07:47:40","modified_gmt":"2023-10-03T11:47:40","slug":"is-apecoin-going-to-zero-ape-price-plummets-8-as-latest-meme-coin-project-takes-all-the-limelight","status":"publish","type":"post","link":"https:\/\/ifintechworld.com\/?p=68164","title":{"rendered":"Is Apecoin Going to Zero? APE Price Plummets 8% as Latest Meme Coin Project Takes All the Limelight"},"content":{"rendered":"
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ApeCoin (APE) has tumbled -8% after rejecting from upper-trendline resistance, marking the latest drop in a 9-month cascade – terrified bag-holders are now asking: Is ApeCoin going to zero?<\/p>\n

The downside price action for the APE governance token, comes amid wider disarray in the Bored Ape Yacht Club (BYAC) ecosystem – which has seen the value of the once prestigious NFT collection plummet over the past year.<\/p>\n

Indeed, looking at BAYC NFT floor price, over the past 3 months, there has been a -78% collapse in floor price from an average of 59.58 ETH to just 26.083 ETH today. And this comes against a backdrop of -49% decrease in trading volumes.<\/p>\n

With BAYC’s profitability seemingly depleting by the second, the knock-on impact for APE holders could spell disaster – read on to find out more in APE price analysis.<\/p>\n

APE Price Analysis: Is ApeCoin Going to Zero?<\/strong><\/h2>\n

Amid the dramatic moves, ApeCoin is currently trading at a market price of $1.163 (representing a 24-hour change of -1.36%).<\/p>\n

The downside move comes following a short-lived recovery for ApeCoin, which pushed up +19% from hard-fought consolidation at $1.089 to reclaim the 20DMA and test upper-trendline resistance.<\/p>\n

However, the resounding rejection has left price tumbling back to 20DMA support – this now forms a critical level to watch, if APE bulls fail to establish support here – the cascading price action will continue.<\/p>\n

The 20DMA has formed a capstone of resistance suppressing upside price moves since August 15, further highlighting the risk posed by yet another drop below this moving average.<\/p>\n

As for ApeCoin’s indicators, the RSI is showing a bullish divergence at 42.02, cooling down rapidly from the recent push-up in price.<\/p>\n

And the MACD is also displaying bullish divergence at 0.024 – suggesting the momentum is still there to move higher.<\/p>\n

Overall then, APE is in a perilous retracement move – if price action falls any further it will once more be trapped by the 20DMA. However, if bulls can consolidate here – technical indicators suggest upside could resume.<\/p>\n

This leaves APE with an upside target at higher support around $1.445 (a possible +24.14%).<\/p>\n

While downside risk could see APE plummet to $1.017 (a potential -12.63%).<\/p>\n

ApeCoin therefore carries a risk: reward ratio of 1.91 – a good entry, characterised by decent upside risk, however, if price action fails to consolidate above the 20DMA then APE will grind lower towards zero.<\/p>\n

Emerging 10X Moon-Shot: Meet Meme Kombat as Presale Smashes $230k<\/strong><\/h2>\n

Meet Meme Kombat, a trailblazing initiative that has seamlessly blended the memetic love of nostalgic gaming, and GambleFi, into a decentralized Web3 platform.<\/p>\n

So, what makes Meme Kombat tick, and why should potential investors keep a keen eye on this presale?<\/p>\n

The essence of Meme Kombat lies in its captivating arena where characters aiming to tap into deeply tribal crypto communities lock horns.<\/p>\n

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Players have the liberty to place their bets on these animated battles, predicting the outcomes and possibly reaping attractive rewards.<\/p>\n

With a sturdy promise of Season 1 showcasing 11 distinct meme characters, there’s no shortage of action, and Season 2 is already on the horizon for December 2023.<\/p>\n

The decentralized nature of the project, combined with the thrill of AI-driven battles, ensures that the outcomes are both transparent and unpredictable – every battle is a new experience, ensuring players stay engaged.<\/p>\n

GambleFi Revolution? Meme Kombat Gamifies Staking, Rewards, and More<\/strong><\/h2>\n
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The project isn’t just about excitement; it’s built on a foundation of trust – Meme Kombat’s commitment to transparency is evident through initiatives like the impending security audit of their smart contract.<\/p>\n

The findings of this audit will soon be public, a move that many projects shy away from.<\/p>\n

The founder and project lead, Matt Whiteman, isn’t an unknown entity in the crypto space.<\/p>\n

His experience spanning two decades in process design, combined with his position as the COO of North Technologies, adds credibility to Meme Kombat.<\/p>\n

When so many projects hide behind the veil of anonymity, Whiteman’s open profile and the project’s physical address in Amsterdam offer an extra layer of trustworthiness.<\/p>\n

The tokenomics of Meme Kombat is also an appealing factor for potential investors – Stake the Meme Kombat ($MK) token, priced attractively at $1.667, and dive into a rewarding ecosystem.<\/p>\n

With a generous APY of 112%, stakers not only benefit from passive income but can also use their staked tokens to place bets in the arena – this dual functionality \u2013 earning while gaming \u2013 sets Meme Kombat apart.<\/p>\n

Intriguingly, engagement on the platform directly influences the income one can earn, so, the more you participate, the more you stand to gain.<\/p>\n

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With the GambleFi industry booming following coins like Rollbit, Meme Kombat seems poised to tap into this lucrative market with its innovative approach.<\/p>\n

By merging memes, gaming, and blockchain, the platform is presenting something fresh to the crypto community.<\/p>\n

For those looking to diversify their portfolio with a unique offering, Meme Kombat seems like an opportunity too good to miss – so, don’t be left behind (stay tuned with the MK Telegram).<\/p>\n

Embrace the future of meme-based gaming and betting with Meme Kombat.<\/p>\n

Buy Meme Kombat Here<\/strong><\/p>\n

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.<\/sup><\/i><\/p>\n<\/p><\/div>\n