Summary
TLDR: Apecoin, linked to Bored Ape Yacht Club NFTs, has struggled with a 66% price drop in the last year. However, there is hope with a recent 35% recovery. A proposal for an NFT Launchpad is being considered, but faces criticism for lack of details. A separate proposal for ApeSwap DEX has been approved. Technical analysis suggests a potential rebound, but bearish trend is still strong. Apecoin may retest its all-time low or spike 35% if momentum is maintained.
Key Points
1. The Apecoin ecosystem, linked to the Bored Ape Yacht Club (BAYC) NFT collection, has been struggling, with significant price drops and a downward trend in the price floor of BAYC NFTs.
2. Apecoin has shown a slight recovery, with a 35% increase from its all-time low, reaching its current price of $1.334. However, it is still down by 27.93% in the last 30 days.
3. Initiatives like the proposal to launch an “NFT Launchpad” powered by Apecoin and the approval of ApeSwap, a native ApeChain DEX, aim to boost engagement and increase use cases for Apecoin, but technical analysis suggests a bearish trend with potential retesting of all-time lows.