Is ApeCoin Crypto A Buy For 2023?

Last Updated December 29th 2022

7 Min Read

Should You Buy ApeCoin In 2023?

Key Points

ApeCoin’s past price performance makes the token prime for the fear of missing out (FOMO) in 2023.
ApeCoin’s fixed total and maximum supply of 1 billion tokens could be a driver of its price.
ApeCoin’s ecosystem continues to grow daily.

ApeCoin (APE) was one of the best-performing digital currencies during the recovery of the crypto market in the last two weeks of March 2022. The crypto rallied by more than 3,000% in a day.

Overall, APE brought over 1,000% gains for investors that held the token from March 17 to March 31, 2022.

This means that investors with huge capital who patronized the cryptocurrency on the day of its launch could have become millionaires in the process.

With that said, ApeCoin started its opening month of March 2022 with a lot of unpredictability.

Like the rest of the market in the last two weeks of March, there was a spike in the token, and later, the negative crypto market sentiment led to a steep decline in the price of the token.

Overall, APE has the fundamentals to see the coin reach new milestones as the months roll by.

Let us analyze ApeCoin’s potential which will help us determine if APE is still a buy for 2023.

Investor Expectations For ApeCoin Are High

Apecoin

In March 2022, ApeCoin’s 3,840% gains were reminiscent of the performance of Shiba Inu (SHIB), and SafeMoon (SAFEMOON) in 2021.

To help you understand this, suppose someone had $50,000 to spare, and the person bought $50,000 worth of ApeCoins on its first day of trading, the person would have bought around 50,000 APEs.

When APE reached a new all-time high price of $39.40 within hours, the person’s capital would have grown to $1,970,000, if they sold the tokens at the right time.

Such returns are just like walking into a house of money with $50,000 and within hours you come out as a millionaire.

Such gains continue to mesmerize several traders and investors. This is the primary reason why APE continues to see huge investor interest which is reflected in its daily trading volume.

On average, ApeCoin has recorded $500 million as a daily volume in April 2022.

Many investors believe that the bulls of February, March, April, May, and November 2021 will return at some point in 2022.

This makes APE one of the best tokens to hold for the short, medium, and long term.

Crypto asset investing is highly volatile and unregulated in some EU countries. No consumer protection. Tax on profits may apply.

ApeCoin Has The Attribute Of Scarcity

On the day of its launch, it was announced that there would be a total and maximum supply of 1 billion APEs.

As of writing, more than 277 million ApeCoins were in circulation, which was represented by 28% of the maximum supply.

One of the attributes of successful currencies is scarcity.

Fiat currencies have value because they are scarce.

This is the primary reason why residents of the United States continue to complain about inflation in 2022 since the government continues to print money which reduces the value of the United States Dollar (USD).

In the future, there is a huge chance that there would be 100% ApeCoins in circulation.

Once this happens, the basic laws of demand and supply will take hold of the market.

At the moment, the supply of APE is greater than the demand for ApeCoins.

Should someone buy $1 million worth of APEs, the person will only take 82,372 APEs out of the remaining 700 million, per the price of APE ($12.14) as of writing.

This is why APE continues to trade below $15 in April 2022.

Once 1 billion coins are in supply, holders of the token are going to determine the price patterns of ApeCoin.

With a booming ecosystem possibly in the future, scarcity could take ApeCoin to price milestones many analysts, experts, and trading gurus did not foresee.

Scarcity is the motivating factor that led analysts at Price Prediction to make bullish forecasts about the price patterns of APE in the short and medium-term.

According to the analysts, APE could finish 2023 with the maximum trading price of $17.46 and command the highest possible trading price of $81.64 by the end of 2026.

On the last day of 2030, the crypto news and forecasting portal thinks ApeCoin could trade for the best possible trading price of $512.71.

With the fundamentals provided and predictions from one of the most reputable crypto portals in sight, ApeCoin is a cryptocurrency you should consider buying in 2023.

Don't Miss: ApeCoin (APE) Price Prediction

ApeCoin Is Gaining Adoption

ApeCoin began as a token inspired by the Bored Ape Yacht Club (BAYC) NFT project.

As a cryptocurrency, it continues to branch out of BAYC’s shadow and find some independence of its own.

One of the attributes of any successful currency is utility.

The founders of BAYC and the Mutant Ape Yacht Club (MAYC), Yuga Labs announced in March 2022 that APE will be used in their soon-to-be-launched play-to-earn game called Otherside.

APE will be utilized in the same way AXS (novel token of the Axie Infinity ecosystem) is used for in-game purchases as well as for receiving rewards.

Gone were the days when banks showed you what you could and could not do with your debit and credit cards.

Thanks to cryptocurrencies such as ApeCoin, those who enjoy gambling with cryptocurrency can visit crypto gambling websites such as BC.GAME, and use APE as a payment method.

With APE, you can make deposits and withdrawals.

Several crypto casinos are making plans of adding support for ApeCoin since it is popular and can be used by millions of people who are in the crypto gaming community.

On March 20, 2022, one of the most popular magazines, TIME announced via their Twitter handle, “Congrats to the ApeCoin DAO on the rollout of @ApeCoin & thrilled we can announce that @TIME will be accepting $APE for digital subscriptions in the coming weeks on TIME.com/HODL".

Every week, more than 20 million subscribers globally turn to TIME for exclusive coverage of news events.

Suppose 10% of these subscribers decide to pay their subscriptions with APE, it means at least 2 million people will be using the token in their financial transactions weekly.

Once this happens, the resultant effect will be the demand for APEs by millions of people.

In the long term, a price spike could ensue which could take ApeCoins to new high highs.

In addition to these, APE will be used in the popular video game Benji Bananas.

As a play-to-earn game, users (gamers) will be paid rewards in APE. This increases APEs standing in the non-fungible token (NFT) space.

The utility of APE is the driving force that has led experts at Changelly Blog to make positive predictions about ApeCoin.

According to the experts, ApeCoin could command the highest possible price of $50 by the end of 2023.

On the last day of 2025, APE should have tested or crossed $60, they further estimate.

By the close of 2030, they believe ApeCoin could reach the best possible trading price of $100.

With growing utility cases for APE and impressive trading volume, ApeCoin is a digital asset you should consider investing in, in 2023.

Crypto asset investing is highly volatile and unregulated in some EU countries. No consumer protection. Tax on profits may apply.

ApeCoin Is Building An Exciting Ecosystem

You should know that ApeCoin (APE) is an ERC20 token.

This means APE is housed in the Ethereum ecosystem.

This is the same ecosystem that houses Decentraland (MANA), Enjin (ENJ), The Sandbox (SAND), and Axie Infinity (AXS).

Aside from ApeCoin’s standing in the NFT space, the ApeCoin foundation continues to liaison with developers so that they can add to the innovative products in the decentralized finance space. Shiba Inu (SHIB) became a mainstream token not because it is a meme token inspired by another meme-inspired cryptocurrency in the form of Dogecoin.

Instead, Shiba Inu added ShibaSwap (a decentralized exchange to its ecosystem).

Aside from this, it launched OshiVerse to help the entire project stay relevant in the crypto stratosphere.

There are several areas ApeCoin can focus on such as decentralized exchanges, decentralized lending, decentralized insurance, decentralized yield aggregation, and decentralized oracle/cloud storage networks.

The creation of DAPPs will lessen APEs' dependence on the Bored Ape Yacht Club and help transform the ApeCoin ecosystem.

With an exciting project coupled with APE's availability on 43 exchanges (most of them being the biggest by trading volume), APE has the potential of rivaling Binance Coin (BNB) and other tokens.

These are the reasons why APE caught the attention of analysts at Digital Coin Price.

According to them, APE could thrive well in the medium to long term.

Per their forecasts, APE could reach the highest possible trading prices of $35.60 and $64.97 by the end of 2027 and 2031 respectively.

Check Out: What Might Happen If You Invest $100 In ApeCoin Today?

Should You Buy ApeCoin In 2023?

ApeCoin is a token you should consider buying in 2023. Trading below $15 means that APE is still a low barrier to entering the crypto finance space.

APE has brought massive returns to many investors.

With the right trading and investing strategy, ApeCoin could be the best-performing cryptocurrency in your portfolio in 2023.

Open an account with eToro, deposit some funds with USD, and finally – buy ApeCoin from just $10.

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