Decoding what APE’s increased accumulation means for the token

APE accumulation increased as price dropped. Indicators looked bearish and suggested a further downtrend. ApeCoin [APE] has been experiencing selling pressure for quite a few days, as was evident from its recent price action. According to CoinMarketCap, APE registered over 14% decline in its price over the last seven days, and at the time of […]

As per Santiment’s data, APE’s supply held by top addresses registered an uptick in the last week, which showed that the investors were accumulating APE when its price was lucrative. APE’s exchange outflow also spiked quite a few times in the last seven days, which was a positive development.

Moreover, APE’s daily active address and network growth followed the trend of the bull market, reflecting a larger number of users in the network. However, APE’s MVRV Ratio was considerably lower, suggesting the possibility of a further price decline.

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