ApeCoin (APE) has brought more than 1,000% returns to early investors in less than one month. In this article, we share the total number of APE coins you need to have in your investment portfolio to become a millionaire in 2023.
ApeCoin’s rise in the crypto finance space in March has brought about the question, how many ApeCoins do you need to become a millionaire in 2023?
Well, that depends on your experience as a trader or investor, and your risk appetite since you need to invest in ApeCoin with an eye on the long term to become a millionaire.
If you are extremely optimistic and believe in the possibilities of the NFT projects of Bored Ape Yacht Club (BAYC) and Mutant Ape Yacht Club (MAYC) by Yuga Labs, which can transcend positively onto APE, you need at least 10,000 Ape coins to become a millionaire.
Analysts at Price Prediction, Changelly, and Coinfomania forecast APE to command a minimum trading price of $100 by the close of 2025. Therefore at ApeCoin’s price of around $13, you need to set aside $130,000 that you can write off as bad debt should APE’s price head south. With that amount, you can buy 10,000 APE tokens. Once the prediction of analysts at the aforementioned crypto news and forecasting portals are surpassed, your 10,000 APEs multiplied by $100 equals $1,000,000 ($1 million).
However, if you are not too bullish about the fortunes of ApeCoin due to the consistent regulatory issues miring the crypto finance, you would need to set aside more money for APE coins.
A price estimate of $100 is not the only prediction by analysts. Many analysts think that the ApeCoin ecosystem is just beginning and that the team behind the project will add more products to the decentralized finance space in the future.
As a result, you will need $650,000 that has been set aside for the sole purpose of being invested in ApeCoin.
With $650,000, at $13, you can buy 50,000 APE coins.
Analysts at Price Prediction, Digital Coin Price, Crypto Predictions, Coinfomania, Gov. Capital, CoinQuora, and Uptobrain project APE to retest $20 in the short term.
Your portfolio which comprises 50,000 ApeCoins multiplied by $20 equals $1,000,000 ($1 million).
While any of the two scenarios is feasible, due to the impact of BAYC and MAYC in the non-fungible tokens space in addition to the projects that can be added to the ApeCoin ecosystem, the author will go with the $130,000 investment.
This is because investing in ApeCoin and cryptocurrencies as a whole is risky. A sum of $130,000 is 20% of $650,000.
After reaching an all-time high price of $39.40 on March 17, 2022, another rally of the market could take APE across the $50 price milestone, and then $100 will be the next target.
Will ApeCoin (APE) Reach $100 In 2023?
ApeCoin (APE) could reach $100 in 2023 depending on the forces of demand and supply.
Before APE became a tradable token in March, some of the largest cryptocurrency exchanges by trading volumes such as eToro, Binance, Coinbase PRO, OKX, FTX, Kraken, Kucoin, Gate.io, and Huobi Global announced via their respective portals that they will be supporting the trading of Apecoin.
This has given APE extensive mileage that other tokens such as Shiba Inu (SHIB) and Dogecoin (DOGE) could not enjoy right from their inceptions as crypto trading assets.
This is the primary reason why APE continues to see a minimum of $600 million in daily trading volume.
However, relying on fundamental and technical analysis from blockchain technology enthusiasts, decentralized finance fans, and trading gurus, it is highly unlikely that APE will reach $100 in 2023. Let us examine forecasts by experts as to why APE will continue to trade below $100 in 2023.
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According to analysts at Price Prediction, ApeCoin is still trying to find its feet in a market of more than 18,000 coins and could reach an average price of $18.85, a minimum price of $18.16, and a maximum price of $21.75 by the year’s end of 2023.
According to experts at Swapspace, ApeCoin could reach a price of $18.06 by the end of 2023.
As per the forecasts of analysts at Changelly, APE could command a trading price of $50 on the last day of 2023.
As per the projections of analysts at Gov. Capital, the novel token behind the ApeCoin ecosystem could trade for a regular price of $45.437, the least possible price of $13.12145, and the best possible price of $17.75255 on Dec. 31, 2023.
According to the trading gurus at Digital Coin Price, the Ape coin could have an average price of $15.72, a minimum price of $15.02, and the maximum price of $16.99 by the close of 2023.
Per the statistics of analysts, gurus, and experts, it is not impossible but it would be difficult for APE to reach the $100 milestone in 2023. This is because at most 35.5% of APE coins, represented by 355 million, could be circulating on the market by the close of 2023.
Reaching the $100 milestone means that ApeCoin will have a market capitalization of $35.5 billion by the end of 2023.
What this means is that ApeCoin could be more valuable than crypto projects such as Avalanche (AVAX), Polkadot (DOT), Dogecoin (DOGE), Binance USD (BUSD), Terra USD (TUSD), Shiba Inu (SHIB), and Polygon (MATIC).
In the current crypto climate where thousands of tokens are fighting for the same investors, such valuations can only be reserved for the future.
ApeCoin will first need to retest its all-time high price in March.
Once new milestones are reached before the last quarter of 2023, investors can dream of APE making a bold run for the $100 milestone in the last three months of the year.
Without that, the possibility of ApeCoin reaching $100 by the end of 2023 is close to 0%.
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Can ApeCoin Reach $50 In 2023?
ApeCoin could reach $50 in 2023 if it breaks the $40 price milestone before the last three months of 2023.
With the volatile nature of cryptocurrencies, suppose a whale invests millions of dollars into APE in the course of the year, ApeCoin could attain such a price.
The ApeCoin ecosystem is housed in Ethereum’s blockchain.
Since Ethereum is the first blockchain-backed smart contracts network, the ApeCoin project can take advantage of the possibilities of the network and expand its ecosystem.
Several areas that APE comes into contact with include but are not limited to decentralized exchanges (DEXs) such as Uniswap and centralized exchanges.
Aside from this, APE flirts with other decentralized applications (DAPPS) under the lending, yield aggregation, and insurance banner.
What’s more, during bearish cycles, investors are going to trade the pairings of APE/USDT, APE/BUSD, or APE/USDC.
This means that the team behind the token could consider creating stablecoins, adding decentralized exchanges to their ecosystem, and creating lending protocols that can give more value to APE.
Once this happens, ApeCoin could make a run for $50 and even surpass it to record new all-time high prices.
Among the hundreds of forecasting portals, analysts at Changelly are the only ones that believe APE could command a trading price of $50 by the end of 2023.
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Can ApeCoin (APE) Reach $20?
ApeCoin reaching $20 seems to be the most rational possibility in 2023. With this, it would be extremely easy for investors with huge sums of money to burn to become crypto millionaires.
At $13, APE needs to increase by at least 50% to be able to arrive at $20.
Analysts at Price Prediction and Changelly estimate APE coin will hit the $20 mark before 2023 ends.
A 50% price spike looks realistic since ApeCoin has less than six (6) months of trading experience.
If there should be another rally like what the market experienced in February, March, May, and November 2021, there is a huge chance that ApeCoin will bring awesome returns to holders of the token.
With an investment capital of $650,000 that could see you make a profit of $350,000 when your investment turns to a million dollars within months, investing in APE in 2023 is something you should consider.
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