Ape coin is still a relatively new altcoin, but it got off to a very strong start in March 2022. This is of course thanks to it being associated with the Bored Apes NFTs, which is one of the most hotly traded NFTs today and has developed into a very strong community tied together with their interest in culture, entertainment and just having a good time.
Whether this is all just hype or the beginning of a serious momentum remains to be seen. While the Ape coin quickly shot up from its launch price of around $8 to a record high above $27 in late April, it has been trading under the $10 mark since May 2022. However, Ape has some serious publicity power behind it, with Eminem and Snoop Dogg making a Bored Ape themed video.
MoreLess And other than numerous celebrities who are Bored Apes, the Ape Foundation recruited some serious heavyweights to sit on the board, including Alexis Ohanian, who co-founded Reddit. The Ape token is positioned as the coin for the Bored Ape Yacht Club ecosystem, so the coin can really take off with the community.