![Assessing Apecoin’s [APE] potential to stay profitable in the coming days of 2023](https://i.headtopics.com/images/2023/1/10/cryptoamb/assessing-apecoin-s-ape-potential-to-stay-profitab-assessing-apecoin-s-ape-potential-to-stay-profitab-1612669314041094149.webp)
ApeCoin’s value increased over 20% in the last seven days The technical outlook projected a possible correction due to the asset hitting the overbought zone ApeCoin [APE], the governance and utility token of the Bored Ape Yacht Club [BAYC] have since started 2023 on a strong note. The token which endured several nosedives in 2022 […]
worth as of July 2022. This was the case as indicated by the Market Value to Realized Value ratio.
The MVRV ratio was seen in an uptrend since 1 January. This meant that there was a high degree of unrealized profit. Furthermore, holders who accumulated when the ratio was down were likely to lock recent gains.As of this writing, APE was exhibiting signs to hit maximal volatility, based on indications from the Bollinger Bands. The BB, which identifies asset trends with the help of the Simple Moving Average , showed that the APE price at $4.676, had exceeded the upper band.
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