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What is ApeCoin and why its trending on Twitter

ApeCoin is an ERC-20 token, a type of Ethereum blockchain build-it-yourself cryptocurrency. This framework is used to build the majority of the Ethereum-based social tokens that have gained popularity in the last year (think FWB, for the social club Friends with Benefits, and WRITE, for the Web 3 crowdfunding platform Mirror).

Unlike NFTs, ApeCoins are intended to be “fungible” – just like bitcoin (BTC), any one ApeCoin should be worth exactly the same as any other ApeCoin, and you can freely buy and sell them on a decentralised exchange, a kind of digital trading post for cryptocurrencies.

Almost every major centralised cryptocurrency exchange listed the token shortly after its launch. Given the notoriously finicky nature of major players like Coinbase, this was a significant achievement in and of itself (COIN). ApeCoin had a market capitalization of nearly $2 billion after just one day of trading; one APE is currently worth about $14, and the total supply of tokens is capped at one billion (not all of which is currently in circulation).

ApeCoin price forecast

Changelly forecasts a moderately bullish and fluctuating price trajectory. They anticipate that the ApeCoin price will remain stable at $55 on average in 2023. It will fall to $45 by 2024. The following year, the average will be $60.

ApeCoin on Twitter

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