Is ApeCoin a good investment, will ApeCoin reach $500, and if so, when will ApeCoin reach that target?
These are some of the trending questions that continue to cross the minds of long-term APE holders.
Well ApeCoin has been one of the most frequented cryptocurrencies in 2022.
The cryptocurrency ignited a media buzz in March that saw its price skyrocket by more than 3,000% to an all-time high price of $39. 40 on its first day of launch.
Most of the crypto community believes that the ERC20 token will command relatively higher prices than it currently does in the not too distant future.
Most of them think that the popular coin is earning the rewards of its popularity and fear of missing out (FOMO).
Looking at the relatively lower price range ($10 to $15) that ApeCoin trades for in April 2022 and the insurmountable mountain it has to climb before reaching $500, some experts are unconvinced about the prospects of APE reaching $500 in the near term.
Let’s examine when ApeCoin will reach that target.
WHEN WILL APECOIN REACH $500?
Due to the potential of the ApeCoin project, we have conducted an independent study on the ApeCoin price forecast 2022-2031.
We have come across several forecasts that project ApeCoin to reach $500 or more in the future.
Let’s take a look at the estimates on the question, when will ApeCoin reach $500?
According to Price Prediction.net analyst, APE could reach $500 by 2031. According to his forecast, ApeCoin could reach the best possible trading price of $512.71 by the end of 2031.
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APE could reach $500 by 2025, according to the trading gurus at Coin Data Flow. According to them, if ApeCoin has 100% of the previous average growth of Bitcoin per year, the coin could be priced at $541.97 by the end of 2025.
In addition to this, if all of the above metrics hold, they estimate that APE will have the highest possible trading price of $1,950.73 by the close of 2026.
ApeCoin could trade in the $500 range in the long term, according to the Service Center’s prediction. According to the trading gurus, APE could fetch the lowest possible trading price of $400 and the highest possible trading price of $800 by the end of 2040.
In the very long term, by 2050, ApeCoin could trade for a minimum price of $800 and a maximum price of $1,500.
According to Telegaon analysts, ApeCoin could reach the maximum price of $518.94 by the end of 2040. After 10 years in 2050, they believe APE could have an average trading price of $ ,. 36, the least possible trading price of .$, 1,032. 13, and the best possible trading price of $ ,. 76.
According to the Cryptocurrency Price Prediction report, ApeCoin could reach $ 503. 04 in September 2030 and close the year with a new all-time high price of $ 521. 28.
According to analyst Marco Deon’s report at Cryptonic, ApeCoin could have a regular trading price of $580.55, the lowest possible trading price of $564.26, and the highest possible trading price of $686.01 by year-end 2031.
Referring to projections made by analysts as to when ApeCoin will reach $500, APE could reach $500 by the end of 2030. The year 2030 is the magic year when most gurus and trading experts foresee APE reaching a milestone that could bring huge returns to the wallets of many of its holders.
This means that investing $1,000 today, which could buy you around 83.33 APEs could mature to over $40,000 someday.
WHAT HAPPENS IF APECOIN REACHES $500?
If ApeCoin finally reaches $500 in the future, here are some of the events we can expect from such a milestone:
Attract more traders and investors to APE tokens: before ApeCoin reaches the $500 milestone, the coin would have gone through several price corrections and resistance. This would test the coin’s resistance to bearishness. Once this happens, millions of traders and investors would snap up the token, as it could reach unrealistic targets and bring more sparks to their portfolios.
It challenges conventional cryptocurrencies: at the time of writing, Bitcoin (BTC), Ethereum (ETH), Maker (MKR), Binance Coin (BNB), Yearn Finance (YFI), Tether Gold (AUT), Beefy Finance (BFI) and Bitcoin Cash (BCH) ) are digital assets that have tested the $500 price mark. Once APE reaches $500, the next mark will be $1,000, and this milestone has been reached with a few coins.
At the time of writing, APE is one of the top 50 digital assets by market capitalisation. Once ApeCoin reaches $500, the entire project could enter the top 10 rankings and become more worthy than most Fortune 100 companies.
More developers will be attracted to the APE ecosystem: the milestones achieved by Ether (ETH) in a market of more than 18,000 coins have reflected positively on the Ethereum ecosystem. Despite the efforts of Binance Smart Chain (BSC), Solana (SOL), Avalanche (AVAX), Cardano (ADA), Eos (EOS), Internet Computer (ICP) and TRON (TRX) to gain a share of the DeFi/NFT market, Ethereum controls more than 60% of these spaces. This is partly because developers choose to build their innovative decentralised protocols and applications (DAPPs) on Ethereum so that their projects can be sponsored by millions of DeFi fans.
Likewise, if APE were to reach $500, it would attract more developers to its ecosystem.
Once this happens, there will be more development activity to add to the existing projects planned by the ApeCoin Foundation.
In addition to this, the ApeCoin Foundation could be pressured to move to a blockchain they own (as Tron and Binance did in 2020).
Before ApeCoin reaches $500, the cryptocurrency will first have to cross the $100 milestone.
So when can we expect ApeCoin to reach $100?
WILL APECOIN REACH $100 IN 2022?
Well, ApeCoin could reach $100 one day. As of April 2022, looking at the coin’s dependence on the Bored Ape Yacht Club (BAYC) and reliance on positive news from Yuga Labs to bolster its price, it would be difficult for ApeCoin to reach $100 in 2022.
After doing extensive research on the cryptocurrency’s future price patterns, not one analyst in twenty on reputable crypto news and forecasting portals believes that ApeCoin could reach $100 in 2022.
It has been predicted that the highest APE it will reach is $50.
IS APECOIN A GOOD INVESTMENT?
YES! ApeCoin is a good investment and is a digital asset that you should consider adding to your cryptocurrency portfolio.
That said, you should not invest in APE with a mindset of reaping short-term gains.
ApeCoin could work for medium to long-term investors. This is where analysts have made most of the bullish predictions about ApeCoin.
Always remember that ApeCoin price predictions are based on possibilities and not certainties. Therefore, always keep the risks and rewards in perspective.
Once the rewards of investing in ApeCoin outweigh the possible consequences of the risks involved, you can go ahead and buy ApeCoin.
CONCLUSION: WILL APECOIN REACH $500?
With the ApeCoin Foundation’s roadmap, the popularity of the Bored Ape Yacht Club, the support of key stakeholders in the crypto finance space and the backing of all the major cryptocurrency exchanges could see APE reach $500 in the short and long term.
With high hopes for a bullish return towards the second half of 2022 or early 2023, APE has the potential to bring more than 1,000% return on your investment.
Overall, APE has transformed the portfolios of millions and could do the same for you.