Speedy, Bored Ape’s ApeCoin Surges Over 100%

Coins with memes In the past 24 hours, the prices of both Speedy and ApeCoin have increased by more than 100%

CoinGecko data as of Sunday afternoon shows that Speedy, a joke coin launched on the Fantom blockchain by The GOAT Foundation, was one of the top gainers.

The team behind Speedy, which includes blockchain experts like Gonzales Spidorius as CIO, saw the value of the token rise by more than 150%. The coin’s all-time high is about $0.03346, and its all-time low was $0.0007253 on Oct. 20.

Check out the chart below.

ApeCoin, on the other hand, went up by 105.0%.

Based on what they knew, APE was moving between $0.7393 and $1.66 over 24 hours. We can see that the coin’s price has gone from a low of $0.6981 to a high of $1.57 in just seven days.

What caused the surge?
The sudden rise in Speedy couldn’t be proven, but Ben Crypto, a crypto expert with over 30,000 YouTube followers, looked into it more.

Yes, turtles move slow, but this coin is fast. It ain’t slowing down anytime soon… for full two weeks, this coin was below $1 million market cap. Then, in the next few days, it quickly rose to about $10 million, pulled back slightly then in the last two days, it has gone parabolic.”

Read on.

Ben Crypto said that if you had put $1,000 into an investment during this time, it would be worth $30,000. It would be about $100,000 if you put $3,000 into it.

“Always look for coins that have been trading for at least a week and have a market cap of $1 million,” he says. Why? He says a rug pull has a high risk-to-reward ratio and little downside risk.

The start of ApeChain, a new Layer-3 blockchain, seems to be the main reason for the bullish trend in ApeCoin.

The ApeCoin X account made a public statement about this event. “Bridges are open.” ApeCoin said, “Bring your tokens to ApeChain now to start earning native yield on APE, ETH, and other stablecoins.”

ApeChain, which just came out, has many important features that have helped the market feel good.

People who own tokens can now move them to ApeChain, Ethereum (ETH), and the Arbitrum (ARB) chain, where the bridge runs.

Their team said that when users hold ApeCoin on ApeChain, their APE goes into automatic yield mode. This means users can yield on APE, ETH, and other stablecoins.

Memes on ApeChain have grown by over 12,000%, the ApeCoin team said on X.

In the second part of 2024, the APE coin has been going down. In August 2024, the coin’s value hit a record low of $0.482. But since then, the coin’s price has increased by more than 215%.

The price has gone above $1.50 since ApeChain launched not long ago. However, it’s important to see if APE can maintain the $1.50 level.

ApeCoin is the cryptocurrency that runs the Bored Ape Yacht Club group of non-fungible tokens. It was released by Yuga Labs in March 2022 and is run by the ApeCoin DAO. People who own the coin can vote on how the environment should grow.