ApeCoin [APE] has achieved a lot of fame – and notoriety – thanks to its reputation as a monkey token that swings both high and low without warning. But are recent events a sign that the token may be stabilizing? Let’s see what the statistics say.

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APE was the 32nd largest cryptocurrency at the time of writing, trading at $7.83 after falling 8.66% in the past 24 hours but up 40.53% in the past week. Since the recovery from the crash in early May, APE has largely shifted between the $7 and $10 range.

One factor behind this could be a sharp reduction in whale transactions, which had previously impacted APE tokens as major holders rushed to sell. However, trades valued over $100,000 show a downward trend even as APE rose.

Source: Santiment

Next, it’s important to note that APE offerings on exchanges have started moving sideways instead of vertically up or down. It is possible that this also had a stabilizing effect on the price of the token. In APE’s admittedly short history, sudden spikes or dips in APE supply on the exchange were closely linked to dramatic price changes.

Source: Santiment

In addition, APE’s age consumption stat has fallen to its lowest level since the asset’s launch. Despite the decreasing price of APE, the age consumed metric hasn’t increased, meaning inactive addresses don’t see sudden moves or sell out. This could also have a calming effect on the price of APE.

Source: Santiment

Finally, let’s take a look at some price indicators to understand if volatility is really falling. TradingView data showed that the relative volatility index [RVI] quoted a value just below 50. If this falls any further, it means the price of APE could go down.

On the other hand, the Awesome Oscillator [AO] green bars flashed below the zero line – a sign of bullish pressure on APE.

Source: TradingView



This post Is ApeCoin [APE] finally tired of swinging? Here’s what the stats say about stability:

was published first on https://ambcrypto.com/is-apecoin-ape-finally-tired-of-swinging-heres-what-the-metrics-say-about-stability/

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