Analyst Filled His Bag With This Altcoin On Binance! –

A Twitter phenomenon has spent millions participating in the staking program of an altcoin project that started in December. Staking launch has been supported by a wide investor base so far.

Twitter phenomenon locked $3.9 million in this altcoin project

Blockchain analytics firm Lookonchain has found that crypto phenom Machi Big Brother has withdrawn 597,191 Apecoins (APE) from Binance on December 12. “Machibibbrother” then staked these APE tokens. He then bought 306,668 APEs from Uniswap for an average of $4.44. He spent about 1,087 Ethereum (ETH) for this. In total, it has staked around 903,859 APE. At current prices, that’s about $3.9 million.

According to CoinMarketCap data, the APE price was slightly up during this time. It then lost around 1.7% in value. It is currently trading at $4.30. In addition to strengthening against the dollar, APE also gained against Bitcoin and Ethereum. Daily trading volume also increased by 76.39%, reaching $328 million.

APE’s price is now trading just above the $4,159 resistance level after a positive 3-day rally that pushed it above the 9 and 20 daily EMA lines. Technical indicators suggest that the uptrend for the APE will continue as the 9-day EMA is now positioned above the 20-day EMA and broke above the longer EMA line. The daily RSI is also bullish above the daily RSI SMA line and is trending slightly positive towards the overbought zone.

ApeCoin raised $30 million on the first day of staking launch

One day after the Apecoin team launched their staking pool, over $30 million in tokens flowed into the contract. Holders can stake APE tokens or Bored Ape/Mutant Ape NFTs on to start earning rewards on December 12. Meanwhile, staking remains restricted in some countries, including the US. The Ape Foundation, the DAO run by a handful of prominent community members, cited regulatory concerns as the reason. Again, cryptocoin.comAs you follow, a large group of investors continues to show interest.

On the technical side, ApeCoin price started its uptrend on November 14, 2022. The 50-day Exponential Moving Average (EMA) has crossed 200 days, essentially creating a Golden cross. This is interpreted as a bullish show for the NFT coin. ApeCoin’s closest resistance right now is at $4.40. It will then head towards its weekly high of $4.50. Current support levels of $4.05 and $3.89 ApeCoin price.

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