• ApeCoin (APE) is struggling due to the Azuki drama sending NFT prices crashing.
• APE/USD has been unable in recent weeks to muster a sustained pushback to the north of its 21-Day Moving Average (DMA).
• Chimpzee, a charity-focused crypto project, is on the rise and could be the next crypto to explode.
ApeCoin Struggles After Azuki Drama
ApeCoin (APE), the utility and governance token of the APE ecosystem, has been struggling recently. The poor performance of the NFT market has a lot to do with a recent drama relating to a recently launched Azuki NFT collection, reducing demand for the NFT-linked APE cryptocurrency. As crypto investors continue to lose confidence in NFTs, some are claiming that NFT-linked cryptocurrencies like APE could soon be headed for zero.
APE/USD Struggles Against DMA Resistance
APE was last trading near $2.20 per token, within familiar ranges over the past month. But APE/USD has been unable in recent weeks to muster a sustained pushback to the north of its 21-Day Moving Average (DMA), which has been acting as resistance going all the way back to April. At current levels not far above $2.0, APE is close to record lows and is down over 90% versus its record highs from April 2022 in the $28 region.
Azuki Creators Accused Of Fraud
The Azuki NFT collection creators raised a stunning near $40 million in their new launch, but some big investors claimed that they had been ripped off as it looked very similar to a past collection. These big investors bandied together to form the so-called Azuki DAO (decentralized autonomous organization), which they are using to put pressure on Azuki’s creators for a refund. The price floor of BAYC collection recently hit a two year low at $52,000 – an 85% decline from April 2022’s peak price floor around $370K.
Chimpzee Could Be Next Crypto To Explode
Chimpzee – labelled by some as web3’s hottest charity-focused project – just moved into stage six of its highly popular crypto presale. Some industry observers think that this project could be next crypto exploding in growth and popularity moving forward. The disruptive crypto platform allows users donate cryptocurrency directly from their wallets or exchanges without having any prior knowledge about blockchain technology or wallets themselves – making charitable donations easy and accessible for everyone!
Conclusion
The future looks grim for Apecoin as it fails against DMA resistance amidst crashing NFT prices following the Azuki drama debacle – leading many experts claiming it could soon be headed towards zero! However, things are looking up for another ape themed crypto called Chimpzee! With its growing popularity and revolutionary platform allowing users donate cryptocurrency easily and accessibly without previous knowledge of blockchain technology or wallets – Chimpzee may just be what’s needed turn things around!