Bored Ape Yacht Club’s ApeCoin (APE) Plummeted 82% in Just 2h
On Mar 17, Apecoin(APE) plummeted 82% in just 2h. Candlestick data revealed something you must know in advance.
We will share the 3 Apecoin(APE) signal metrics:
- DEX Trades
- Average HOLD Price
- Token Balance Distribution
DEX Trades: Whales are selling to retail Traders?
- $65.95M buy volume vs $60.48M sell
- But just 1.44k sellers vs 3.59k buyers
- Average sell order size $42k vs buy order size $17k
Average HOLD Price
Average HOLD Price of APE/Average Purchase Price of current HODLers: $10.4.
- Compared to the current price of $11.14.
- More holders are in profit now— The most significant price pressure with possible massive sell orders — $13.03.
Token Balance Distribution
Check the current APE token balance distribution :
- Concentration decreased Top 100: 100% to 92.75% Top 10: 99% to 82.32%
Conclusion
The first round of holders changing has finished. Whales have sold APE to the retail market. The APE tokens are more spread out.
Apecoin(APE) data updates by Candlestick
Holders
A strong community demand? Hodlers increases steadily.
- 21,133 on launch day
- +3.4K even in price downtrend (26,466 Mar 18 — 29,921 Mar 20)
- have reached 31,146 in total
Token Balance Distribution
- Top 10 saw a sharp decrease: 82.32% to 81.60%
- Top 20: 88.84% to 88.66%
Whales sold holdings to retail investors. The Apecoin gets more spread out.
New Addresses
New Addresses still be positive.
- reached a peak: +28,493 on launch day
- +21,950 during price dumping (Mar 18–19)
- +5,546 when price recover(Mar 20–21)
New participants are in the game. Increasing community demands supported Apecoin(APE).