The non-fungible token (NFT) industry has boomed over the past year. NFT project Bored Ape Yacht Club, which was launched in April 2021 by savvy marketeers Yuga Labs, has seen its collection of 10,000 digital images far outstrip its competitors’ in value.
ApeCoin, despite having only launched on 17 March 2022, has drawn a vast amount of attention. But how will this affect an ApeCoin price prediction? This article will show you about ApeCoin price prediction. How high can ApeCoin go? Please read on.
What is ApeCoin (APE)?
According to the ApeCoin website, the token has been developed for the Web3 economy. Built on the Ethereum blockchain, the token will be “used within the APE ecosystem to empower a decentralised community building at the forefront of Web3”.
ApeCoin also wants to use the APE ecosystem to develop digital gaming, entertainment and art, claiming that the “possibilities for blockchain’s impact on culture are so endless that they can’t possibly all be predicted yet”.
Led by the Ape Foundation, Yuga Labs purports to have structured the governance of the ecosystem as a decentralised autonomous organisation (DAO). ApeCoin token holders can allegedly vote on future developments to the ecosystem.
Yuga Labs will become a community member in the DAO and will adopt APE as the primary token across new projects.
DAO members can vote on a special council, called the board, that will oversee the foundation. Council members initially announced by the project include Reddit co-founder Alexis Ohanian, FTX’s Amy Wu and Horizen Labs’ Dean Steinbeck, but do not include any members of Yuga Labs.
ApeCoin, which is the ecosystem’s governance token, will also allow holders access to exclusive events, products and services.
Tokenomics
According to its website, ApeCoin will be distributed between an ecosystem fund (62%), Yuga Labs (16%), launch contributors (14%) and the founders of the Bored Ape Yacht Club (8%).
Although Yuga Labs is not officially launching the coin, the way the tokenomics have been structured means that between them, Yuga Labs and the founders of BAYC will hold nearly a quarter of the token’s supply.
While the exact offerings or games that the platform aims to develop remain unclear, the coin has garnered extensive market traction. But how will this affect an ApeCoin price prediction for 2022 and beyond?
ApeCoin price prediction – How high can ApeCoin go?
Do bear in mind that digital forecasters use algorithms to make their predictions. While useful as a reference, they do not take into account certain fundamental factors and external market volatility. Checking forecasters’ APE price predictions should be just one element of your investment due diligence. Cryptocurrency markets are highly volatile and your investments are at risk.
DigitalCoinPrice suggests a value of $8.37 in September. The site forecasts an average value of $9.00 in 2023 and $9.60 in 2024. The site’s ApeCoin price prediction for 2025 stands at $11.93. While it forecasts that this will then fall to $11.13 in 2026, DigitalCoinPrice suggests a general year-on-year uptrend, leading to an ApeCoin price prediction for 2030 of $28.66.
Gov Capital makes an APE price prediction of $7.72 at the end of September. The site also suggests the coin will be worth $23.88 in one year’s time and $177.26 in five years’ time.
PricePrediction forecasts a value of $7.71 for the month of September and $8.50 in December 2022. The site forecasts an average value of $26.34 in 2025 and $170.50 in 2030.
How many ApeCoins are there?
There is a maximum supply of 1,000,000,000 coins and a current circulating supply of about 307 million APE (31%).
Is ApeCoin a good investment?
Potentially. Yuga Labs has become a major player in the NFT scene and it has managed to secure some big names in the crypto space. Its development of a new metaverse has undoubtedly attracted the attention of investors.
Saying this, it is very early days so it’s hard to predict, once the launch hype dies down, whether the coin has staying power.
It’s also wise to remember that cryptocurrencies are highly volatile assets and that analysts’ forecasts can often be wrong. You should always carry out your own research before making any investment.
Will ApeCoin go up?
On the day of its launch, the price of ApeCoin fell sharply before trading up to an all-time high. Since then the token has retreated in value. Many algorithmic forecasters are bullish, but analysts at FXStreet remain cautious at this point.
Hope this article can provide you with a better understanding about ApeCoin price prediction.
