NFT Coins Pumping - Expert Predicts ApeCoin, Blur, LooksRare Price Rise Signals Bull Run For NFTs

NFT Coins Pumping – Expert Predicts ApeCoin, Blur, LooksRare Price Rise Signals Bull Run For NFTs

Updated: 25 November 2023

Disclosure

Don’t invest unless prepared to lose all the money you invest. This is a high-risk investment, you shouldn’t expect to be protected if something goes wrong.

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

The general crypto market has recently bounced back to an upward trajectory, with Ethereum, the second-largest digital asset by market capitalization, leading the charge. The global NFT market has also seen a short spike in sales volume in the past several weeks.

In the wake of the recent short crypto market rally, some popular non-fungible token coins are pumping in price. Crypto Kaleo, a renowned on-chain market data analyst, has predicted that due to the recent surge in NFTs coin prices, we are more likely to see another NFT bull run.

Not fading this $APE breakout. Up until the lasst month, BLUR and LOOKS have both traded in lockstep with APE. NFTs are starting to pick up some momentum. I see it as only a matter of time before APE catches up.

Send it.

Long it with me here ➡️ https://t.co/32dHnZJdnq pic.twitter.com/fiEGtFToCM

— K A L E O (@CryptoKaleo) November 25, 2023

The Fall And The Rise Of NFTs Explained

In 2021, the global non-fungible token market underwent a robust bullish market that left many NFT collections selling at millions of dollars. From cartoon apes to video clips, sales of NFTs reached some $25 billion as the speculative crypto asset exploded in popularity, although there were signs of growth slowing towards the end of the year.

At the time, the prices of some non-fungible tokens, crypto assets representing a digital item such as an image, video, or even land in virtual worlds, rose so fast that the previous year speculators sometimes ‘flipped’ them for a profit within days.

Furthermore, during the bull run, the art world rose quickly to cash in, with auction houses selling NFTs representing simple cartoons for millions of dollars with no physical objects changing hands. One NFT artwork fetched a record $69.3 million at a Christie’s sale in March 2021.

Unfortunately, the global non-fungible token has suffered a brutal comedown in the past several months. The NFT bear market started mid-last year before escalating further in June this year. The NFT downturn left many NFTs shielding over 80% of their floor price value.

In the same context, a recent study from DappGambl, an on-chain analytic firm, claimed that 95% of the NFT collections were nearly worthless. In September, the analytical firm revealed that 69,795 of the 73,257 NFT collections had seen their market cap dropping to almost zero Ether.

NFT Coins Price Hike Signifies An NFT Bull Run – Expert Predicts

Fortunately, the global non-fungible token has showcased some light signs of recovery, and it’s anticipated to retest another bull run in the coming weeks or months. Crypto analyst Kaleo has shared three NFT coins, which he believes signifies the possible NFT bull run in the coming weeks or months. They include:

1. $BLUR

BLUR is the native governance token of Blur, an NFT marketplace, aggregator, and lending platform catering to advanced NFT traders. Blur crypto token powers the Blur ecosystem, which includes the Blur marketplace, aggregators, and the lending protocol known as Blend. The $Blur price has spiked 320% to $0.59 in recent weeks, up from its recent low of $0.16.

Source: Tradingview.com, $BLUR trading activity

2. $LOOKS

LOOKS is the native utility token of LookRare, a community-first marketplace where traders and collectors can buy, sell, and collect Ethereum-based NFTs. LOOKS has seen a short surge in its price, pumping 235% from its lows. $LOOKS has risen from around $0.05 in October to $0.126.

Source: Tradingview.com, $LOOKS trading activity

3. ApeCoin ‘$APE’

ApeCoin (APE) is the native token that empowers the decentralized community building of the APE ecosystem. The APE ecosystem includes the community of Bored Ape Yacht Club (BAYC) and Mutant Ape Yacht Club (MAYC), two of the most popular NFT collections on the Ethereum blockchain.

ApeCoin has pumped 65%, rising from its recent lows of $1.09 to $1.68. Even though the $Ape price has not skyrocketed like $BLUR and $LOOKS, the crypto token is anticipated to rise more in the coming weeks or months. According to Kaleo, the $APE / $BTC pair is trading at HTF resistance of the downtrend and has been stuck since January.

Source: Tradingview.com, Apecoin $APE trading activity

The crypto researcher Kaleo believes that once $APE/$BTC breaks that barrier, $APE will skyrocket again. The first target is a move back to the highs of the August range. The recent price surge of those three NFT coins convinced Kaleo that we will likely have another NFT bull run in recent weeks or months.