APEIndustry AnalysisLINKNews

APE rises 5% in 24 hours, but fear of unlock looms large

1 Mins read


  • APE was up by more than 5% in the last 24 hours. 
  • Historically, APE’s token unlocks have caused price drops. 

Like most cryptos, the price of ApeCoin [APE] rose in the recent past after days of bearishness. At the same time, APE awaited its next batch of token unlocks, which could possibly influence the token’s price once again.

ApeCoin bears had a major influence on the token’s price last week, as its value plummeted by more than 19%. However, things turned in the token’s favor.

According to CoinMarketCap, APE was up by more than 5% in the last 24 hours alone. At the time of writing, the token was trading at $1.38 with a market capitalization of over $507 million.

ApeCoin is awaiting its next token unlock

As per a tweet by Token Unlocks on the 8th of January, the network was awaiting its next set of unlocks at press time, which would unlock 15.6 million tokens, worth over $22 million. 

However, this could be bad news for investors, because, historically, APE has witnessed price drops after unlocks.

APE has more concerns to address

AMBCrypto’s look at Coingecko’s data revealed that despite the current bullish market, BAYC’s floor price continued to decline. Therefore, the possibility of APE following a similar trend in the coming days seemed likely.

Source: Coingecko

To better understand whether APE has other challenges to tackle, AMBCrypto took a look at Santiment’s data. Our analysis found that the whales were losing confidence in APE at press time.

How much are 1,10,100 APEs worth today? 

This was evident from the fact that ApeCoin’s supply held by top addresses declined last week. Nonetheless, the broader market at large continued to buy APE as its Supply on Exchanges dropped, while its Supply outside of Exchanges increased.

Source: Santiment

However, a few market indicators also looked bullish on the token. APE’s Money Flow Index (MFI) and Chaikin Money Flow (CMF) registered upticks, increasing the chances of a continued uptrend at press time.

Source: TradingView


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Harry is a crypto enthusiast and experienced trader with a track record of success. With a deep understanding of blockchain technology, he has analyzed market trends and identified profitable opportunities, resulting in impressive returns. Harry 's expertise lies in developing effective trading strategies that leverage the potential of cryptocurrencies. Through his articles, guides, and educational resources, he shares his insights and knowledge, helping individuals make informed trading decisions. With a keen eye for market patterns, Harry has navigated the volatile crypto landscape with confidence. Stay tuned for valuable perspectives and expert advice from Harry as he contributes to the Ailtra platform.
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