The March launch of the ApeCoin caused a major uptick in the NFT and crypto markets. But with turmoil in the markets, the ApeCoin price is tumbling faster than any other gaming and metaverse-related tokens.
ApeCoin is having a hard time
Yesterday, the ApeCoin price reached a new low of $3.03 per token. At the time of writing, the price has risen slightly to $3.74, but that’s still only a fraction of what the coin was worth 2 months ago. Back then, 1 Apecoin was worth more than $27.
At ApeCoin, the magnitude of the decline only really becomes clear when we look at the big picture. In the past 30 days, the token has lost 65% of its value. Compare that to a 42% drop for The Sandbox, or 39% for Decentraland’s MANA token. Bitcoin has fallen 32% over the same period and Ethereum has lost 48% of its price.