CandleFocus

ApeCoin (APE) Price: Wintermute Manipulation or Bullish Breakout?

ApeCoin (APE) has experienced price fluctuations, raising concerns about potential market manipulation by Wintermute. Data from Arkham shows that APE's asset balance has fluctuated since March 2024, peaking at around $12 million in early April before declining back to around $6 million by the end of May. Crypto analyst Davie Satoshi believes that the launch of APECHAIN and related memecoins contributed to the recent price increase, identifying a bullish pattern with a wave 3 and predicting a possible target of $2.50 in a wave 5 breakout. Technical indicators suggest recent bullish momentum for APE, although the RSI indicates that the coin is in overbought territory, suggesting a possible short-term correction.

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