October 1, 2022

Net-worth wallet investors still show confidence in ApeCoin. That’s regardless of the latest setback and colossal price declines. Let us dive deeper.

ApeCoin (APE) dropped to $16.73 from $24.86 after the Otherside sale on Saturday. One reason supporting the plummet could be congestion on the Ethereum platform amid Otherdeed NFTs minting. That led to failed transactions and services slowing down.

Such developments saw holders escaping the marketplace. According to Coinmarketcap data, ApeCoin lost approximately 10K followers at this publication. However, dominant buyers seemed not to lose interest in the token.

Whales Have You Covered

Whale wallet investors (Ethereum whales in APE) have accumulated massive ApeCoin tokens. Data from WhaleStats shows two leading whales bought ApeCoin assets worth about $9 million. Dominant buyer ‘Jiraiya’ purchased 499,998 ApeCoin worth around $8.1 million (according to the May 1 tweet by WhaleStats). Jiraya’s wallet holds $8,625,919 in APE.

Also Read:  Bitcoin And Ethereum Feature Price Decline As Market Bears Continue To Hold Initiative Across All Financial Markets

Moreover, ‘Bombur’ acquired 70,804 APE tokens, equal to $1,255,359. Bombur’s wallet had $16,032,829 in ApeCoin. Meanwhile, this whale has been active as far as buying alts is concerned. Bombur bought massive Shiba Inu amounts early this month, totaling over 100 billion tokens.

These massive buyers can help a struggling coin raise by a small margin. Now, though price performance didn’t experience many changes, here’s what saw fluctuations. For now, APE is the most-traded alt by the top 100 Ethereum wallets, according to the May 2 tweet by WhaleStats.

Shiba Inu Greater than APE?

The trendy crypto Shiba Inu maintains the top spot as far as whale holdings are concerned. The canine-themed crypto outshines other Ethereum-based alts again, including the likes of LINK, MATIC, and FTT. SHIB accounted for the leading tokens (15.01%) held by large wallet investors.

Also Read:  MATIC Token Gets Attention of Investors as Popularity of Polygon Network Increases

Meanwhile, APE has a long recovery journey. While publishing this news, ApeCoin traded at $15.62, following a 3.79% drop over the previous 24 hours. Meanwhile, the Coinmarketcap crypto community isn’t overly bullish about the altcoin.

They believe APE will end May 2022 at $16.78, a brief 0.46% increase from the current price. Also, some cryptocurrency fans criticized ApeCoin, calling it another meme token in the space.

Stay tuned for the latest developments within the crypto world.

Editorial credit: mundissima / shutterstock.com


NFTMetaverseFinance is not responsible for the content, accuracy, quality, advertising, products or any other content posted on the site. Some of the content on this site (namely Branded Voices content) is paid content that is not written by our authors and the views expressed do not reflect the views of this website. Any disputes you may have with brands or companies mentioned in our content will need to be taken care of directly with the specific brands and companies. The responsibility of our readers who may click links in our content and ultimately sign up for that product or service is their own. Cryptocurrencies, NFTs and Crypto Tokens are all a high-risk asset, investing in them can lead to losses. Readers should do their own research before taking any action.


Leave a Reply

Your email address will not be published.