Apecoin holders' count registers an increase, thanks to...
Will the interest in APE last?
Due to the recent spike in interest, the number of new APE holders outweighed the number of long-term holders, at press time. This was indicated by the declining Long/Short difference. These new holders are much more likely to sell their holdings for a profit when they get a chance to do so. However, the MVRV ratio for APE was negative indicating that most addresses’ APE holdings were not profitable. If the newer APE holders were to sell their holdings in a short period, they would be doing so at a loss. It is more likely that the new holders will sell their APE after its price grows and becomes profitable.
Therefore, it is plausible that APE might face a price correction in the future if its value appreciates further in the next few weeks.On the social front, things have started to pick up for APE. Consider this- According to LunarCrush’s data, in the last week, social mentions and engagements surged by 55% and 66.8%, respectively.Along with gaining popularity on the social front, the overall sentiment around APE also witnessed improvements.
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