ApeCoin Swings to a Strong 9% Rise; However, Meme Kombat's Presale Jungle Awaits Adventurous Investors

Join Our Telegram channel to stay up to date on breaking news coverage

ApeCoin (APE) price is bullish, recording higher highs over the last five days, totaling almost 25% in gains. Over the last 24 hours, the price is up almost 15% in the last 24 hours, backed by a 120% surge in trading volume.

ApeCoin CoinMarketCap — ApeCoin data on CoinMarketCap

The surge began a day after the ApeCoin ecosystem formed a strategic alliance with Eesee. This was part of a joint mission to democratize access to high-value non-fungible tokens (NFTs). It was also aimed at facilitating the growth of the APE community.

Exciting news: @apecoin forms a strategic alliance with @eesee_io to democratize access to high-value NFTs and facilitate growth of the community.

🔑 ApeCoin community is granted access to eesee rewarded Testnet that goes live in the end of October

More in a 🧵 pic.twitter.com/AfibtuhjEH

— eesee.io (@eesee_io) October 19, 2023

The partnership followed a proposal to introduce a strategic alliance between Eesee, a gamified NFT platform, and ApeCoin DAO. It is designed to democratize access to high-value NFTs and stimulate community interaction. Moreover, it was also intended to inspire active participation in ApeCoin governance. At the same time, it enhances the visibility of ApeCoin’s sub-communities.

ApeCoin Price Prediction As APE Breaks Out From a Bearish Technical Formation

ApeCoin price started rising on October 20 after finding support at $1.024. This support level broke the fall for the cryptocurrency after a steady downtrend beginning around June. With a price action defined by lower highs and lower lows, the downtrend saw APE consolidate within a descending parallel channel. This technical formation is highly bearish, sealing the fate of an asset for as long as its price swings remain confined within the boundaries.

As the chart below indicates, ApeCoin price has broken out from the channel, steered by rising momentum. The move has seen APE breach the resistance due to the upper boundary of the channel and the 50-day Exponential Moving Average (EMA) at $1.207.

For a confirmed breakout, however, ApeCoin’s price must break and close above the $1.300 psychological level. Further north, the gains could extend for APE to breach the 100-day EMA at $1.505, or in the dire case, extend to tag the $1.800 psychological level. This would constitute a 45% climb above current levels.

The Relative Strength Index (RSI) is at 66, supporting the bullish thesis as it continues north after breaching the 50 midline. As long as this directional bias is maintained, the upside for APE remains plausible.

Similarly, the Awesome Oscillator (AO) indicator is positive after a steady flow of green histogram bars, showing bulls are heading the market.

On the flip side, if profit booking kicks in, ApeCoin price could dwindle, potentially falling back into the grasp of the channel. In extreme cases of a sell-off, the price could drop to the channel’s midline, falling below the $1.024 support floor.

On-chain Metrics for ApeCoin: IOMAP

On-chain metrics from blockchain aggregator IntoTheBlock corroborate the bearish outlook. The In/Out of the Money Around Price (IOMAP) model reveals a strong supply barrier that will prevent ApeCoin’s price from achieving its upside potential. Based on this on-chain metric, there is only one major area of interest between $1.27 and $1.30. Many investors that had previously purchased APE around this price level fill this area. Here, roughly 267 addresses hold nearly 55.11 million APE tokens, bought at an average price of $1.28.

Meanwhile, investors are also looking at MK for their portfolio diversification strategies. Renowned analysts, including Crypto Tony on giant social media platform X, have endorsed the project.

New presale i am bring some awareness too .. Legends at @Meme_Kombat who are an innovative new gaming platform designed for hardcore gamers.

– Doxxed team ✅
– $100,000 raised already ✅
– Passive staking ✅
– AD / NFA / DYOR ✅

– Presale link : https://t.co/TWAEnq5WG0
– TG :… pic.twitter.com/r6xtdbBmeX

— Crypto Tony (@CryptoTony__) September 28, 2023

The project debuted only recently but already gives established meme coins like FLOKI, SHIB, and DOGE a hard time.

The world of #memecoins can be a rough place, but #MemeKombat is coming in hot 👊 pic.twitter.com/EotbPRQMyh

— Meme Kombat (@Meme_Kombat) October 4, 2023

Investors are also questioning whether MK is the new PEPE as it continues to outperform what used to be the meme coin sensation.

ApeCoin Alternative

MK is arguably the most promising alternative for ApeCoin, powering the Meme Kombat ecosystem. The token is affordable, selling for as little as $0.1667 per token. However, this rate only lasts for the next nine days, meaning interested investors should act now.

🔥 #MemeKombat UPDATE 🔥

Staged Presale = ON

▪️ NOW: 0.1667 USD
▪️ Nov 2nd: JUMPS to 0.1833 USD

The timer is set! Secure your $MK before the rise! ⏰ pic.twitter.com/LMreT8M2Ce

— Meme Kombat (@Meme_Kombat) October 23, 2023

Touted as an innovative new gaming platform designed for gaming enthusiasts, Meme Kombat meets users where gaming and gambling intersect. The player can choose their meme character, either based on preference or the playing odds.

You can pick one to fight alongside you, the rest are against you.

Who you picking? ⚔️ pic.twitter.com/sZOGmoFEss

— Meme Kombat (@Meme_Kombat) October 17, 2023

The go-to destination for all Degens, traders, meme coin enthusiasts, and others, the Meme Kombat ecosystem sets the tone for other projects. It presents a place where there is something for everybody.

We're all winning at life cause we're here together🫶 pic.twitter.com/jHWhDqBPYO

— Meme Kombat (@Meme_Kombat) October 22, 2023

Join the cryptocurrency enthusiasts already buying MK using Ethereum (ETH) and Tether (USDT) stablecoin or a bank card. As investors flock to the fastest-growing new stake-to-earn meme crypto presale, collections have reached $678,636, out of the set $1 million target. Once you buy MK, you do not have to wait for the launch. Capitalize on the staking function for Annual Percentage Yields (APY) as high as 112%.

Degen or gamer or both?

Everyone can engage in kombat⚔️

Watch the full video from @BuryCrypto below👇 pic.twitter.com/GyGi2TRTvi

— Meme Kombat (@Meme_Kombat) October 13, 2023

Visit Meme Kombat to buy MK in the presale stage here.