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First of all, ape is not just a project or coin, it's a brand. And it has lots of positive vibes that are still circulating in the crypto market. That is why we are discussing the project. Now let's indicate at some point what apecoin has:
1. It's the backbone of a strong brand.
2: It has a fuge fund to ensure that all of their operations run smoothly.
3. They have a strong team.
4: They cast a negative light on the entire market.
And many more things. This is a common misunderstanding.
Now here are some problems with what I believed:
First of all, they already give airdrop to a huge number of people and a huge number of tokens. And their token price was literally a handsome position, and lots of people who got the airdrop started to sell their coins because they knew it would be dumped very soon, so without holding on, if they sell now and the price goes down further, they can re-enter. I don't think all the airdrop holders have started to sell, but most people still don't know that they get airdrops. When they start to sell, it might be more of a dump. This is the overall problem.
Despite the fact that the nature of cryptocurrency is pump and dump.But I believe it will be a short-term problem for Apecoin because they are well powered to handle this situation, and they might have a backup plan to overcome it. And I also believe this is not a useless project, it is also a big project. And in the future, it will be very profitable for users. And it might be the next top-listed altcoin.
Well, it's my opinion, others might be different. Thank you.