Is there only one solution for the meme? Can ApeChain really save ApeCoin?
Why is Ape Express receiving so much attention from the market this time? What are the key differences compared to previous clones? Which cryptocurrencies are worth paying attention to? Finally, what data should be monitored to determine whether to enter or exit ApeChain?Author: WOO X Research
Background: Apecoin Builds Apechain to Join the Meme Battlefield
Apecoin surged nearly 100% in a single day on October 20, as ApeCoin announced the official launch of ApeChain, an Ethereum Layer 2 built using Arbitrum Orbit.
The highlight is that users can earn native yields and automatic compounding by transferring specific tokens such as APE, ETH, USDC, and other stablecoins to ApeChain.
This can be seen as ApeChain attracting liquidity through this model, while the official launch of Pump Fun - Ape Express on ApeChain ignites FOMO emotions on-chain.
Pump Fun has been a hit since May this year, becoming one of the top money-making projects on-chain, with various clones appearing, but none have been able to replicate the success of Pump Fun. Why is Ape Express receiving so much market attention this time? What are the key differences from previous clones? Which tokens are worth paying attention to? Finally, what data should we observe to determine whether to enter or exit ApeChain?
Let WOO X Research take you through it.
Why Can ApeChain Be Popular?
- APE Token Surge: The transmission of liquidity inevitably flows from easier-to-access areas to more difficult ones, just as the rise of public chain tokens can spill over to ecological projects, which have smaller market capitalizations and can achieve more considerable gains. The logic applies similarly to APE and ApeChain; the first step for ApeChain to gain popularity is to create demand, and APE must first rally to sustain the narrative.
- Many Ecological Whales: Unlike other Pump Fun clones, holders of Yuga Labs series NFTs are often on-chain whales with substantial financial power, and the NFT market has been underperforming this cycle, necessitating a new narrative to stimulate original holders to invest in related product markets.
- Official Support: If a meme is supported by a public chain, it may face market skepticism from a Building perspective, easily being labeled as merely speculative without genuine effort. In politically correct scenarios, the likelihood of public chain projects supporting meme launch platforms is very low (except for BeraChain). Most Pump Fun clones are built by small teams and often start cold, making it extremely costly for users to gain trust in terms of marketing, branding, and familiarity. Yuga Labs embraces a new narrative for an old project, making the market more accepting of slightly altered clones rather than mindlessly replicating on other chains.
ApeChain Meme Ecological Projects
CURTIS: The leading project, conceptualized as a guiding NPC in OTHERSIDE, named CURTIS, characterized by wearing a Hawaiian shirt and a captain's hat.
Current price: 0.01318, current market cap: 13.18 million USD, historical market cap high: 28 million USD, 24-hour trading volume: 18 million USD, 24-hour decline: 6%
CIF: The first meme coin on APE Express.
Current price: 0.001909, current market cap: 1.9 million, historical market cap high: 8.5 million, 24-hour trading volume: 1.7 million USD, 24-hour decline: 65%
BORED: Conceptually refers to the meaning of Bored in BAYC.
Current price: 0.01292, current market cap: 12.92 million USD, 24-hour trading volume: 1.3 million USD, 24-hour increase: 2.4%
Is ApeChain Viable? Observe These Data
- Leading Token Price Increase: The characteristic of meme coins is to utilize the wealth effect to attract users to continuously invest funds for purchases. If the leading token's price increase is not sustained, other meme coin projects become even more precarious. The leading project CURTIS has fallen over 50% from its historical high; for the overall meme ecosystem to continue developing, this token must first return to its historical peak.
- APE Trading Volume: Trading volume represents investors' interest in ApeChain; a sudden drop in trading volume also indicates a decrease in demand for APE. Currently, the 24-hour trading volume on the mainnet reaches 13 million USD. Opening the 15-minute trading volume chart, APE peaked at 1 million USD at 21:00 UTC+8 on 10/20, and the current trading volume every 15 minutes is only 50,000 to 100,000 USD.
- ApeChain Capital Inflow Level: The price increase of on-chain meme coins depends on the inflow of capital; if the inflow slows down or even reverses, it can signal the failure of the meme ecosystem plan. Currently, ApeChain is experiencing a net outflow, with 21:00 UTC+8 on 10/20 being a turning point, synchronized with the aforementioned trading volume time node. For players wanting to participate in the ApeChain meme ecosystem, waiting for a net inflow of capital on-chain is a better choice.
