• A wallet has recently shed over 180,000 ApeCoin tokens, sparking questions about the token’s strategy or fatigue.
• Looking at ApeCoin inflow and outflow data reveals that there was a slight dominance of inflow compared to outflow on 23 August.
• Examining the daily timeframe chart for APE revealed a consistent decline that has persisted since the start of the year.
A Wallet Dumps Over 180,000 ApeCoin Tokens
An ApeCoin wallet recently dumped over 180,000 APE. This has sparked questions about the token’s strategy or fatigue.
Inflow & Outflow Analysis Reveals Slight Dominance
Examining the ApeCoin inflow and outflow data presented on Santiment’s chart revealed that there was a slight dominance of inflow compared to outflow on 23 August. This dynamic was influenced by substantial selling activity originating from the wallet discussed earlier.
APE Price Trend
Reviewing the daily timeframe chart for APE revealed a consistent decline that has persisted since the start of the year. According to price range analysis, the token has declined significantly from its all-time high value in January 2021 of $3.85 per token to its current level of approximately $1.51 per token (as of this writing).
Impact Of Price Trajectory On Selling Activity
The observation prompted consideration regarding whether or not price trajectory might influence recent sell-off activities of APE tokens. Despite attempts to increase market demand for ApeCoin tokens, it appears that investors are still hesitant and may be selling off their holdings due to fear or uncertainty surrounding their investment decisions in light of an uncertain market climate.
Is ApeCoin Losing Its Charm?
Amid trends, losses and speculation, it remains unclear whether or not ApeCoin is losing its charm amongst investors as more wallets are dumping their holdings despite efforts made to boost demand for it on exchanges. For now, only time will tell how this curious tale unfolds further in terms of performance for this altcoin asset class moving forward into 2021 and beyond.