ApeCoin (APE) has experienced an 18-month consolidation period, but its recent price surge suggests a potential breakout. The token’s fundamentals have strengthened, with the total value locked in the ApeChain network reaching a record high of over $34 million.
Key metrics indicate a positive outlook for the coin, including:
– A 340% gain from August lows
– Camelot’s TVL (total value locked) has increased by 83% to $23.3 million
– Gains Network has attracted $9.26 million in assets
The ApeChain ecosystem is also expanding, with new chains like Intract joining the network.
Crypto analysts are optimistic about the APE price rise, citing a potential golden cross pattern on the daily chart. This pattern indicates a parabolic trend for the asset. Additionally, an emerging cup and handle pattern suggests that ApeCoin could jump to $5 in this crypto bull run.
Source: https://crypto.news/apecoin-price-could-hit-5-as-ape-forms-2-rare-patterns