Investments in Apecoin Became too Risky After Recent Token Unlock
Apecoin prices dived to all-time low at $1.056 after a $54.4 million token unlock on September 17. The decline of its prices was no surprise as the same drop happened in May, July, August on the date of the unlock event. Prices have usually stabilized during 2-3 week after this date, but dropped again afterwards. Thus, APE prices may recover in the coming two weeks. They did recovered by 10% since the last unlock event, and may continue to do so. Most worrying is the support at $1.00. This might be the last stand for the coin as no major long positions are seen below this level. In case of a major breakthrough the coin may easily dive to the new bottom. So, the APE has to prove its stability if its prices would hold above $1.50 threshold. Otherwise, investing in this crypto asset would remain an extremely risky venture.
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