As a seasoned researcher with over two decades of experience in the cryptocurrency market, I must admit that the recent surge in both Speedy (SPEEDY) and ApeCoin (APE) has caught my attention. The rapid growth of these meme coins within a 24-hour period is nothing short of remarkable, especially for Speedy which was trading below $1 million market cap just a fortnight ago.
Meme coins Speedy and ApeCoin have both seen their prices pump by over 100% in the last 24 hours.
Based on recent market information, it’s worth noting that Speedy (SPEEDY), a meme cryptocurrency introduced on the Fantom blockchain by The GOAT Foundation, was one of the highest climbers on CoinGecko as of late Sunday afternoon.
As a researcher involved in the Speedy project, I’ve been thrilled to witness the token surge over 150% in value. The coin’s peak currently stands around $0.03346, while its lowest point was reached on October 20th at $0.0007253. Gonzales Spidorius, our expert in blockchain technology serving as the CIO, has been instrumental in this journey.
See the chart below.
ApeCoin (APE), meanwhile, enjoyed a 105.0% increase.
According to the data they provided, the price of APE fluctuated between $0.7393 and $1.66 over a 24-hour period. However, if we examine the price movement over the last week, we can see that the coin experienced a significant increase. It started at a low of $0.6981, but has since risen to $1.57.
What triggered the surge?
As a crypto investor, I couldn’t help but notice the rapid rise of Speedy recently, though I couldn’t independently verify this surge. However, I decided to delve deeper into the matter, following the analysis of Ben Crypto, a respected crypto observer with a large YouTube audience of over 30,000 subscribers.
Yes, turtles move slow, but this coin is fast. It ain’t slowing down anytime soon… for full two weeks, this coin was below $1 million market cap. Then, in the next few days, it quickly rose to about $10 million, pulled back slightly then in the last two days, it has gone parabolic.”
See below.
During this timeframe, if you had initially put in $1,000, it’s grown to approximately $30,000 today, as Ben Crypto pointed out. And if you had invested $3,000, it would be roughly $100,000 now.
He recommends searching for cryptocurrencies that carry a market cap of around $1 million and have been actively traded for a minimum of one week. His reasoning is twofold: firstly, these tokens are less likely to be rug pulls (scams where developers abandon the project), and secondly, they offer a favorable risk-to-reward ratio.
It seems that the main factor driving the positive trend for ApeCoin is the introduction of ApeChain, a novel Layer-3 blockchain.
Through a formal statement, the ApeCoin X account declared that the bridges have become operational. They invited token holders to transfer their assets to ApeChain right away, so they can start generating returns in native APE, ETH, and multiple stablecoins.
The lights are on.
— ApeCoin (@apecoin) October 19, 2024
As a researcher delving into the latest blockchain innovations, I’ve recently discovered the new kid on the block – ApeChain. This groundbreaking platform boasts a host of compelling features that are fueling an optimistic outlook within the market.
With the successful deployment of the bridge, token holders are now able to transfer their tokens over to ApeChain, Ethereum (ETH), and the Arbitrum (ARB) network.
The team revealed that keeping ApeCoin within the ApeChain system will automatically activate an income-generating mode for your APE, allowing you to collect returns not only on APE but also on ETH and various stablecoins as well.
The ApeCoin team also announced on X that memes on ApeChain are up by over 12,000%.
In the latter part of 2024, the value of APE coin has been decreasing. It hit a record low of $0.482 in August 2024. But surprisingly, it’s climbed more than 215% from that low point since then.
Following the ApeChain’s latest debut, its value has surged beyond $1.50. It remains to be seen if APE can maintain its position above $1.50.
ApeCoin represents the unique digital currency within the Bored Ape Yacht Club set of non-interchangeable tokens. Launched in March 2022 by Yuga Labs, it operates under the guidance of the ApeCoin Decentralized Autonomous Organization (DAO). This DAO grants coin holders the ability to shape the future of this ecosystem through voting on its development.
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2024-10-20 20:54