ApeCoin (APE), an ERC-20 cryptocurrency affiliated with the Bored Ape Yacht Club (BAYC), has seen a significant increase in whale transactions, with a 2102.56% surge in $100K+ transactions in the past week. This rise in whale activity coincided with a 78% increase in APE's price and an 833% increase in trading volume. The surge followed the launch of ApeChain, a Layer 3 network developed by Yuga Labs that aims to improve the platform's user experience. However, Santiment warns that a significant increase in whale transactions often signals an upcoming drop in price. ApeCoin has already experienced a 15% correction in the last 24 hours.



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