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ApeCoin could soar as rumor is circulating that Robinhood wants to add the coin

The ApeCoin price could take a huge jump now that rumors are circulating that Robinhood wants to add the APE token.

The ApeCoin seems poised for a big price hike

The ApeCoin price may even rise by 250%, a technical pattern on the chart suggests. Indeed, on April 13, APE broke above the upper trendline of what appears to be a bull pennant pattern.

Bull pennants appear when the price consolidates into a triangular pattern after an uptrend. Many analysts view them as a continuation pattern. This is because they often cause the price to break out in the direction of its previous trend.

How much the token can rise is usually calculated by measuring the size of the previous uptrend and adding it to the breakout point. If we do this with the ApeCoin chart, we can see that a huge price increase can take place.

If this Bull Pennant comes out, the ApeCoin price could rise above $40.

Is Robinhood going to list the ApeCoin?

The ApeCoin is already performing extremely well today. The price has risen by more than 10 percent. This price increase is partly caused by the rumor that Robinhood will add the APE token to its platform. The rumors got more serious after Robinhood added Shiba Inu, Polygon, Solana and Compound.

However, Robinhood has not yet confirmed plans to add ApeCoin, suggesting that APE’s price gains may be the result of mere speculation. So it is important to be careful when buying the APE token.

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