{"id":293558,"date":"2023-02-26T20:00:01","date_gmt":"2023-02-26T14:30:01","guid":{"rendered":"https:\/\/ambcrypto.com\/?p=293558"},"modified":"2023-02-26T13:47:39","modified_gmt":"2023-02-26T08:17:39","slug":"apecoin-ape-this-latest-development-can-trigger-selling-pressure","status":"publish","type":"post","link":"https:\/\/ambcrypto.com\/apecoin-ape-this-latest-development-can-trigger-selling-pressure\/","title":{"rendered":"ApeCoin [APE]: This latest development can trigger selling pressure\u00a0"},"content":{"rendered":"<ul>\n<li style=\"font-weight: 400;\"><em><span style=\"font-weight: 400;\">APE worth more than $2.3 million was recently transferred to Binance.<\/span><\/em><\/li>\n<li style=\"font-weight: 400;\"><em><span style=\"font-weight: 400;\">Market indicators and metrics suggested increased selling pressure for the alt.<\/span><\/em><\/li>\n<\/ul>\n<p><span style=\"font-weight: 400;\">ApeCoin [APE]<\/span><span style=\"font-weight: 400;\"> recently rejected a<\/span><a href=\"https:\/\/snapshot.org\/#\/apecoin.eth\/proposal\/0x706977b0a9a6908a37cc596ce695f1cd70fa25cb6b1f70b55647899564490f0b\" target=\"_blank\" rel=\"noopener\"> <span style=\"font-weight: 400;\">proposal<\/span><\/a><span style=\"font-weight: 400;\"> that presented the idea of the Forever Apes team producing 1000 ApeCoin capsules, including four stickers, one patch, and one poster. <\/span><\/p>\n<p><span style=\"font-weight: 400;\">This proposal was aimed at increasing token accumulation and reducing unauthorized sales via unofficial channels. However, the majority of the ApeCoin community voted against the AIP, hence the rejection. <\/span><\/p>\n<p><span style=\"font-weight: 400;\">Interestingly, while this proposal was aimed at increasing APE accumulation, the opposite was happening in the market.\u00a0<\/span><\/p>\n<hr \/>\n<p style=\"text-align: center;\"><span style=\"font-weight: 400;\">Read<\/span><a href=\"http:\/\/ambcrypto.com\/predictions\/apecoin-price-prediction\" target=\"_blank\" rel=\"noopener\"> <span style=\"font-weight: 400;\">ApeCoin\u2019s [APE] Price Prediction<\/span><\/a><span style=\"font-weight: 400;\"> 2023-24<\/span><\/p>\n<hr \/>\n<h3>Is selling pressure inevitable?<\/h3>\n<p><span style=\"font-weight: 400;\">Lookonchain recently posted a tweet, which mentioned that an address &#8220;0x4BE5&#8221; transferred 463,137 APE worth over $2.3 billion to Binance.\u00a0<\/span><\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"500\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">Address &quot;0x4BE5&quot; transferred 463,137 <a href=\"https:\/\/twitter.com\/search?q=%24APE&amp;src=ctag&amp;ref_src=twsrc%5Etfw\">$APE<\/a>($2.36M) to <a href=\"https:\/\/twitter.com\/hashtag\/Binance?src=hash&amp;ref_src=twsrc%5Etfw\">#Binance<\/a> 20 mins ago.<\/p>\n<p>The address received 512,062 <a href=\"https:\/\/twitter.com\/search?q=%24APE&amp;src=ctag&amp;ref_src=twsrc%5Etfw\">$APE<\/a> on Dec 6, 2022, Jan 10 and Jan 20, 2023, the average receiving price is $4.74.<\/p>\n<p>And still has 131,222 <a href=\"https:\/\/twitter.com\/search?q=%24APE&amp;src=ctag&amp;ref_src=twsrc%5Etfw\">$APE<\/a> staked.<a href=\"https:\/\/t.co\/YnLJCVzotd\">https:\/\/t.co\/YnLJCVzotd<\/a> <a href=\"https:\/\/t.co\/bGDKxA7Ram\">pic.twitter.com\/bGDKxA7Ram<\/a><\/p>\n<p>&mdash; Lookonchain (@lookonchain) <a href=\"https:\/\/twitter.com\/lookonchain\/status\/1629344874532315136?ref_src=twsrc%5Etfw\">February 25, 2023<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p><span style=\"font-weight: 400;\">The addresses that transferred<\/span><a href=\"http:\/\/ambcrypto.com\/ape-meanders-despite-bayc-and-maycs-growth-heres-why\/\" target=\"_blank\" rel=\"noopener\"> <span style=\"font-weight: 400;\">APE<\/span><\/a><span style=\"font-weight: 400;\"> had received the token in the recent past.\u00a0<\/span><span style=\"font-weight: 400;\">This latest APE transfer underlines the possibility of incoming selling pressure, which can push APE\u2019s price down in the coming days.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">At press time, APE had declined by nearly 1% in the last 24 hours. It was<\/span><a href=\"https:\/\/coinmarketcap.com\/currencies\/apecoin-ape\/\" target=\"_blank\" rel=\"noopener\"> <span style=\"font-weight: 400;\">trading<\/span><\/a><span style=\"font-weight: 400;\"> at $5.07 with a market capitalization of over $1.86 billion. <\/span><\/p>\n<p><span style=\"font-weight: 400;\">Well, the anticipation of sell pressure was also revealed by a few of the market indicators, which pointed out that the sellers were in charge of the market, at press time.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">APE\u2019s Relative Strength Index (RSI) went below the neutral mark, which was bearish. On the other hand, the Exponential Moving Average (EMA) Ribbon indicated that the bears were about to take control of the market, as the distance between the 20-day EMA and the 55-day EMA shrank.<\/span><\/p>\n<p><a href=\"http:\/\/ambcrypto.com\/yuga-labs-smooth-sail-for-nft-collections-but-apecoin-could-face-the-heat\/\" target=\"_blank\" rel=\"noopener\"> <span style=\"font-weight: 400;\">APE<\/span><\/a><span style=\"font-weight: 400;\">\u2019s MACD further established sellers\u2019 advantage as it displayed a bearish crossover. However, though the Chaikin Money Flow (CMF) was below the neutral mark, it registered a slight uptick, which was a positive signal for APE.\u00a0<\/span><\/p>\n<figure id=\"attachment_293559\" aria-describedby=\"caption-attachment-293559\" style=\"width: 1814px\" class=\"wp-caption aligncenter\"><a href=\"http:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/02\/APEUSDT_2023-02-26_11-28-23.png\"><img decoding=\"async\" class=\"size-full wp-image-293559\" src=\"http:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/02\/APEUSDT_2023-02-26_11-28-23.png\" alt=\"\" width=\"1814\" height=\"815\" srcset=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/02\/APEUSDT_2023-02-26_11-28-23.png 1814w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/02\/APEUSDT_2023-02-26_11-28-23-300x135.png 300w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/02\/APEUSDT_2023-02-26_11-28-23-1024x460.png 1024w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/02\/APEUSDT_2023-02-26_11-28-23-768x345.png 768w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/02\/APEUSDT_2023-02-26_11-28-23-1536x690.png 1536w\" sizes=\"(max-width: 1814px) 100vw, 1814px\" \/><\/a><figcaption id=\"caption-attachment-293559\" class=\"wp-caption-text\">Source: TradingView<\/figcaption><\/figure>\n<hr \/>\n<p style=\"text-align: center;\"><span style=\"font-weight: 400;\">Realistic or not, here&#8217;s <\/span><a href=\"http:\/\/ambcrypto.com\/calculator\/marketcap\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400;\">APE market cap in BTC&#8217;s<\/span><\/a><span style=\"font-weight: 400;\"> terms<\/span><\/p>\n<hr \/>\n<h3>The trouble is real<\/h3>\n<p><span style=\"font-weight: 400;\">Meanwhile, APE\u2019s exchange inflow spiked quite a few times over the last few days, which also signified increased selling pressure. <\/span><\/p>\n<p><span style=\"font-weight: 400;\">As<\/span><a href=\"http:\/\/ambcrypto.com\/apecoin-crossed-above-a-multi-week-downtrend-line-should-you-go-long\/\" target=\"_blank\" rel=\"noopener\"> <span style=\"font-weight: 400;\">APE<\/span><\/a><span style=\"font-weight: 400;\">\u2019s price went down over the last week, its MVRV Ratio also fell. Thus, indicating a smaller degree of unrealized profit was in the system. <\/span><\/p>\n<p><span style=\"font-weight: 400;\">The alt&#8217;s on-chain transaction volume in profit also fell because of the price decline. Therefore, considering all the datasets, APE might have to endure increased selling pressure in the days to come.<\/span><\/p>\n<figure id=\"attachment_293560\" aria-describedby=\"caption-attachment-293560\" style=\"width: 3840px\" class=\"wp-caption aligncenter\"><a href=\"http:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/02\/ApeCoin-APE-11.59.25-26-Feb-2023.png\"><img decoding=\"async\" class=\"size-full wp-image-293560\" src=\"http:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/02\/ApeCoin-APE-11.59.25-26-Feb-2023.png\" alt=\"\" width=\"3840\" height=\"1300\" srcset=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/02\/ApeCoin-APE-11.59.25-26-Feb-2023.png 2560w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/02\/ApeCoin-APE-11.59.25-26-Feb-2023-300x102.png 300w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/02\/ApeCoin-APE-11.59.25-26-Feb-2023-1024x347.png 1024w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/02\/ApeCoin-APE-11.59.25-26-Feb-2023-768x260.png 768w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/02\/ApeCoin-APE-11.59.25-26-Feb-2023-1536x520.png 1536w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/02\/ApeCoin-APE-11.59.25-26-Feb-2023-2048x693.png 2048w\" sizes=\"(max-width: 3840px) 100vw, 3840px\" \/><\/a><figcaption id=\"caption-attachment-293560\" class=\"wp-caption-text\">Source: Santiment<\/figcaption><\/figure>\n","protected":false},"excerpt":{"rendered":"<p>APE worth more than $2.3 million was recently transferred to Binance. Market indicators and metrics suggested increased selling pressure for the alt. ApeCoin [APE] recently rejected a proposal that presented the idea of the Forever Apes team producing 1000 ApeCoin capsules, including four stickers, one patch, and one poster. This proposal was aimed at increasing<a href=\"https:\/\/ambcrypto.com\/apecoin-ape-this-latest-development-can-trigger-selling-pressure\/\">Continue reading <span class=\"sr-only\">&#8220;ApeCoin [APE]: This latest development can trigger selling pressure\u00a0&#8220;<\/span><\/a><\/p>\n","protected":false},"author":70,"featured_media":293562,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"om_disable_all_campaigns":false,"footnotes":""},"categories":[31,66,3,4,20],"tags":[],"class_list":["post-293558","post","type-post","status-publish","format-standard","has-post-thumbnail","category-altcoins-news","category-new-news","category-news","category-social","category-trading-view"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v28.0 (Yoast SEO v28.4) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>ApeCoin [APE]: This latest development can trigger selling pressure\u00a0 - AMBCrypto<\/title>\n<meta name=\"description\" content=\"ApeCoin [APE] recently rejected a proposal that presented the idea of the Forever Apes team producing 1000 ApeCoin capsules.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-image-preview:large\" \/>\n<link rel=\"canonical\" href=\"https:\/\/ambcrypto.com\/apecoin-ape-this-latest-development-can-trigger-selling-pressure\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"ApeCoin [APE]: This latest development can trigger selling pressure\u00a0 - AMBCrypto\" \/>\n<meta property=\"og:description\" content=\"APE worth more than $2.3 million was recently transferred to Binance. 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