Apecoin (APE) crypto analysis - will hit $10 soon

Summary

The video discusses the current state of the cryptocurrency market, focusing on ApeCoin (APC), its ties to the popular NFT project Yuga Labs, and its future potential. Despite challenges, such as slow project development and governance issues, the video highlights that celebrity involvement could drive a surge in ApeCoin's value, similar to past NFT market booms. The presenter shares insights into his crypto investment strategy through his platform, encouraging viewers to ensure their portfolios are aligned with the market's current bullish cycle. Ultimately, the success of ApeCoin hinges on both celebrity interest and future development within the Ape ecosystem.

Takeaways

• 😀 The crypto market is in a bull cycle, with Bitcoin trying for new highs despite a recent pullback.
• 😀 Apecoin (APC) is attached to the well-known NFT project, Board Ape Yacht Club, and has potential for growth despite recent struggles.
• 😀 The author expresses skepticism about governance models in crypto, favoring smaller leadership teams with clear vision over mass voting systems.
• 😀 Yuga Labs, the creators of Board Apes, are indirectly involved with Apecoin, though they didn't create it. They control certain rights related to the project.
• 😀 The Apecoin project has faced challenges with low movement and has yet to fulfill its promises of a thriving ecosystem.
• 😀 The tokenomics of Apecoin include monthly token unlocks, with concerns over possible selling pressure from founders and Yuga Labs.
• 😀 The Apecoin community remains active, with frequent voting and proposals, but the project's vision hasn't fully materialized.
• 😀 Apecoin's value is heavily tied to the success of Board Ape NFTs, with some movement happening in the market but not enough to drive long-term growth.
• 😀 The author believes that celebrity involvement is the key to Apecoin's potential for significant growth, drawing parallels to past celebrity-driven NFT successes.
• 😀 Despite being linked to a chain (Ape Chain), the author remains skeptical about Apecoin's future, as the development of Ape Chain is not impressive enough to drive growth.
• 😀 The author recommends getting involved with Copy My Crypto for those looking to invest in coins with higher potential, as it provides a portfolio to follow for better investment decisions.

Q & A

What is the current state of AP Coin and its market performance?

AP Coin has faced some challenges in recent times, with its price having dropped. It hasn't experienced a bull cycle since its launch, which occurred during a bear market in 2022. Despite this, there are potential factors that could influence its future performance positively, especially through celebrity involvement and the development of the Ape ecosystem.

What are the main use cases and features of AP Coin?

AP Coin is a governance token and utility token within the Ape ecosystem. It allows holders to participate in decentralized governance via the Ape Foundation's DAO, enabling voting on proposals related to the future of the ecosystem.

Why does the speaker express skepticism about the governance model of AP Coin?

The speaker is not a fan of governance in crypto, especially mass voting, because it often skews decision-making towards the largest token holders, rather than a small, visionary group leading the project. They argue that most successful companies don't rely on mass voting to drive decisions.

What is the relationship between AP Coin and Yuga Labs?

While AP Coin is attached to Yuga Labs' ecosystem, it was not directly created by Yuga Labs. Yuga Labs is involved through their role in the NFT distribution for AP Coin, with the airdrop being tied to holders of Yuga's Board Ape and Mutant Ape NFTs.

What are the potential challenges AP Coin faces regarding token unlocks?

There is potential selling pressure due to token unlocks, as 15 million tokens are being released each month. Additionally, founders, Yuga Labs, and other stakeholders hold significant amounts of AP Coin, which could lead to further selling pressure when tokens are unlocked.

What is the speaker's view on the long-term potential of AP Coin?

The speaker is not optimistic about AP Coin's future unless there is significant celebrity involvement or a major surge in development within the Ape ecosystem, such as successful games or broader adoption. They suggest that the coin's growth largely depends on these factors.

How does celebrity involvement impact the potential success of AP Coin?

Celebrity involvement plays a crucial role in boosting the value of AP Coin. The speaker cites examples of celebrities previously buying Board Ape NFTs, which caused the prices of those assets to surge. If celebrities re-engage with the NFT space and AP Coin, it could potentially drive its price up significantly.

What are the prospects of the Ape Chain and its potential impact on AP Coin?

The Ape Chain, launched as part of the Ape ecosystem, has not yet shown significant development that would drive up the value of AP Coin. The speaker views it as a speculative play and remains cautious, emphasizing that while it could have potential, it currently isn't a major factor in the coin's short-term prospects.

What is the overall advice for cryptocurrency investors in the current market cycle?

The speaker advises investors to assess their portfolios carefully during the current bull cycle. If you're not confident in the coins you're holding, it's time to make changes. They recommend using services like Copy My Crypto to follow successful investment strategies and maximize profits in the market.

Why does the speaker believe that the future of AP Coin relies on external factors rather than its internal ecosystem?

The speaker believes that AP Coin's future growth is highly dependent on factors like celebrity involvement and market trends, rather than the internal development of the Ape ecosystem. Despite the coin's ties to Yuga Labs, the ecosystem hasn't delivered on its initial promises, and unless these external factors materialize, the coin's value may remain stagnant.