ApeCoin price breaks out, posting 10% rally with three new proposals going up for vote
- ApeCoin has three proposals going up for a vote AIP-21, AIP-22 and AIP-7 at 9 PM ET tonight.
- The launch on the ApeCoin DAO is proposing new ideas in the form of ApeCoin Improvement Proposals.
- Analysts have a bullish outlook on ApeCoin price and predict a continuation of the NFT token’s uptrend.
ApeCoin futures witnessed $36 million in liquidations during a volatile period of 24 hours. Despite the massive liquidation, ApeCoin witnessed a double-digit rally.
ApeCoin price could continue to climb on this one condition
Based on ApeCoin futures data, APE lost $36 million in liquidations overnight. Despite massive liquidation, ApeCoin price successfully bounced back above $22.23. Analysts consider the listing price of $20 a key psychological level for ApeCoin.
Proponents believe the three new proposals that are going up for vote could fuel a bullish sentiment among ApeCoin holders. AIP-21, AIP-22 and AIP-7 are being put to the vote tonight.
The proposals presented to the community for APE's improvement would influence the staking pool and process of ApeCoin.
The community has been hard at work proposing new ideas in the form of AIPs to guide the direction of the DAO. Read below for a quick update on where some AIPs are at in the process and how as a holder of ApeCoin (and therefore a DAO member) you can participate. (1/5)
— ApeCoin (@apecoin) April 28, 2022
The ApeCoin community governs itself via its DAO and follows a process to vote on the Ecosystem Fund and its allocation. The governance guide is a living document that evolves and improves with the community’s input.
Proponents believe ApeCoin’s price rally is fueled by the interest of the community and demand for the NFT token. Therefore, the discussion of the ApeCoin DAO’s improvement proposals is considered a key driver of the current bull run.
@Hayess5178, pseudonymous analyst and crypto trader, observes that ApeCoin posted a 145% gain in 18 days. The analyst believes ApeCoin price could bounce around for a bit after its quick spike up.
How about that on $APE. 145% in 18 days.
— Simon Hayes (@Hayess5178) April 29, 2022
Posted breakout @ $11 on April 11th and posted to adjust SL and secure profit few hour ago. It'll prob bounce around for a while, maybe another quick spike up but I think the main pump is probably over for time being#NFT #Bitcoin #APE https://t.co/RYbBaeSOzR pic.twitter.com/esl0xdWzuE
Author
Ekta Mourya
FXStreet
Ekta Mourya has extensive experience in fundamental and on-chain analysis, particularly focused on impact of macroeconomics and central bank policies on cryptocurrencies.
