TL:DR;

• ApeCoin’s price surge continued after our initial reports and tapped a 6-month peak of over $1.7 earlier today.
• However, its all-time high is still far ahead and the questions arises whether it will be able to break it amid the ongoing developments around the project.

APEMania Is Here?

It’s safe to say that today belongs to ApeCoin’s native token. As reported earlier, it exploded by 65% in hours after the launch of ApeChain – the protocol’s bridge that allows users to earn native yield on ETH, APE, and a few stablecoins.

However, that was just the start for APE as it kept pumping in the following hours and broke above $1.70 for the first time since early April this year. Although it has retraced slightly since then, APE is still over 110% up on a daily scale.

This is probably the catalyst for NFT bull run @apecoin
Higher!!!!! pic.twitter.com/yfSwcWGgbg

— So️er Punk (@soberpunker) October 20, 2024

The hype led to the reemergence of numerous APE bulls as they started to predict the beginning of a new NFT and altcoin season.

#APE looks ready for massive breakout from weekly charts as the descending channel ready to flip off! Expecting 260% throwback towards $2.75 price zone, Demand for #Apecoin consistently rising on #NFT markets triggering the wave. Keep an eye on✅