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).