ApeCoin Price Eyes 45% Rally After Otherside Metaverse Demo
APE continued a rare breakout of an ascending triangle reversal, with a profit target of $8.40.
Altcoin Watch
ApeCoin (APE) rallied to start the week as traders pondered Yuga Labs' decision to open up its Otherside metaverse to select users. In doing so, the token broke out of a technical pattern that hints at another 45% price increase by September 2022.
Another metaverse euphoriaAPE's price jumped almost 23.5% since the start of the week to reach $6.12 per token on July 19.
The weekly gains came as part of a rally that began on July 16. Interestingly, Yuga Labs invited 4,300 players from its Otherside gaming metaverse for a demo (and tour of its Bored Ape avatar online platform) on APE Gathering Day.
APE/USD daily price chart. Source: TradingViewThis suggests that traders bought APE after taking inspiration from the Otherside update, given that it serves as a governance token at ApeCoin DAO. This decentralized autonomous organization (DAO) powers the ecosystem of applications and services deployed by Yuga Labs and third-party brands, including Otherside.
APE Price Sees 45% RiseThe Otherside euphoria also spurred APE out of a
APE continued a rare breakout of an ascending triangle reversal, with a profit target of $8.40.
Altcoin Watch
ApeCoin (APE) rallied to start the week as traders pondered Yuga Labs' decision to open up its Otherside metaverse to select users. In doing so, the token broke out of a technical pattern that hints at another 45% price increase by September 2022.
Another metaverse euphoriaAPE's price jumped almost 23.5% since the start of the week to reach $6.12 per token on July 19.
The weekly gains came as part of a rally that began on July 16. Interestingly, Yuga Labs invited 4,300 players from its Otherside gaming metaverse for a demo (and tour of its Bored Ape avatar online platform) on APE Gathering Day.
APE/USD daily price chart. Source: TradingViewThis suggests that traders bought APE after taking inspiration from the Otherside update, given that it serves as a governance token at ApeCoin DAO. This decentralized autonomous organization (DAO) powers the ecosystem of applications and services deployed by Yuga Labs and third-party brands, including Otherside.
APE Price Sees 45% RiseThe Otherside euphoria also spurred APE out of a
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