ApeCoin Could Continue Down to $0.250
ApeCoin (APE) is down 16.2% this week to $0.569, underperforming Bitcoin (BTC), which declined by 4.5% to $89,789. APE faced heavy selling pressure on Tuesday, plunging 26% to $0.498—the lowest level since August 5, 2024.
The sharp drop appears unusual, given that the U.S. Securities and Exchange Commission (SEC) recently dropped its probe into Bored Ape Yacht Club (BAYC) creators Yuga Labs. Despite this positive development, APE has shown little reaction, suggesting further downside potential.
If the current weakness persists, APE could test support at $0.250 before staging a recovery toward the $1.000 mark.
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