ApeCoin (APE) could be getting ready for a major surge as suggested by recent metrics. On-chain analytics platform Santiment has reported that 1,142 new APE addresses were created on April 7, which is the highest since Feb. 7. This suggests that retail investors are getting involved and that a price surge is imminent. Santiment cites an example of the Stargate Finance (STG) token which saw an enormous price increase after an increased activity on the network. This could be the same for ApeCoin, however, the uncertain crypto markets might diminish that assurance. ApeCoin rose to a high of $27.78 on April 28, 2022, during the Yuga Labs Otherside sale which was used to price the NFTs. After a prolonged period of industry failures and macroeconomic difficulties, ApeCoin is currently trading for around a sixth of its April 2022 value. The fungible governance token is still part of the top 100 cryptocurrencies by market capitalization, clinching the 38th spot. With metrics suggesting that ApeCoin could see a price surge, the cryptocurrency might be on the cusp of a major transition.



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