Last updated: May 20, 2024 14:07 EDT | 2 min read
This article will provide an analysis of APU’s current price trends and look to see whether an innovative new meme coin, Dogeverse, represents a more promising investment opportunity at this time.
Retail capital returning to Ethereum is a notable shift in market dynamics after months of sustained Solana meme coin dominance, which can be explained largely by a significant decline in the price of ETH gas fees since the Dencun upgrade.
This has fuelled improvements in Ethereum activity, with rising interested in ERC-20 meme coins contributing to the recent uptick in volume across the leading proof-of-stake network – ending months of declining volume.
Leading the pack today is APU token, which plays on a cross-over between the much beloved Apu Nahasapeemapetilon (the owner of the Kwik-E-Mart on The Simpsons) and the cousin of Pepe the frog – Apu Apustaja.
APU Price Analysis: As New Ethereum Meme Coin Basks in Glory, Is This Other Token Next to Pump?
As APU price continues to fight for a second-rally leg, Apu token is currently trading at a market price of $0.00000001682 (representing a 24-hour change of -82%).
This comes as part of a significant retracement move, which has seen APU price take a tumble since a sell-off by early backers was triggered at the all-time high of $0.00000028.
However, in an optimistic sign, holders have posted bullish divergence above the descendant down trend, and now, with two hours of consolidation teasing the idea of $0.000000015 forming a new support level, things could be set to reverse.
Indeed, APU price action now returns to a previously established accumulation zone between $0.000000015 and $0.000000040, providing further weight to the bullish case for APU.
Meanwhile, the retracement has also seen APU’s market cap decrease to a more appetizing level at just $13k – this could provide one of the easiest 50x moves on the market today.
Yet, with price action near capitulative territory, this is also a high-risk position, especially with 119 holders still yet to make an exit.
The order book reflects this predicament, with transactions balanced at 50% buys to 50% sells in the past 6-hours.
But while APU offers a super high-risk play, market analysts are honing in on a soon-to-launch multi-chain meme coin as the next viral play.
Explore Dogeverse Ahead of Major Tier 1 CEX Listings in Q2 2024
Touted as the “chain traveling Doge,” Dogeverse has multi-chain functionality across major networks like Ethereum, BNB Chain, and Solana making it a versatile contender in the meme coin arena.
With 15% of its 200 billion supply up for grabs, early investors stand to gain significantly after the $15M raise.
The project’s structure and potential for high returns, including a staggering +582% APY return for stakers, underline its ambitious roadmap.
High APY staking has been all the rage recently, and Dogeverse is set to steal all the limelight.
Knocking down the #Memecoin competition! 🥊🐸#Solana #Altcoins #Crypto #PEPE #Usyk #TysonFury #FuryvsUsyk #Boxing #Champion pic.twitter.com/BsgqVCmuab
— DogeVerse (@The_DogeVerse) May 20, 2024
Beyond its playful facade, Dogeverse introduces real utility, offering seamless integration across different blockchain environments – this feature not only enhances accessibility but also adds a layer of convenience for investors.
Click here to take part in the Dogeverse presale
Disclaimer: Crypto is a high-risk asset class. This article is provided for informational purposes and does not constitute investment advice. You could lose all of your capital.