Why Did ApeCoin (APE) Drop? 18.01.2024

ApeCoin is inspired by the Bored Ape Yacht Club project, one of the world's most popular NFT collections created by Yuga Labs. Yuga Labs, recognized as the creator of Bored Ape Yacht Club, serves as a community member on the ApeCoin DAO. ApeCoin is supported by the APE Foundation. APE token holders collectively make governance decisions, cast their votes and decide on issues such as fund allocation, rules framing, partnerships, project selection and more. The APE Foundation implements the governance decisions made by the community.

APE is trading at approximately 44.37 TL, down 12.34% in the last 24 hours. APE, which rose yesterday upon the company's announcement of a new BAYC-themed game, saw a serious decline in price again after the token launch, which corresponds to 4% of the supply today. It is thought that the price may have retreated with the effect of the rise and token opening with the game announcement.