Turtle-themed Speedy, Bored Ape’s ApeCoin spike over 100%

Meme coins Speedy and ApeCoin have seen their prices increase by over 100% in the last 24 hours.

Speedy (SPEEDY), a meme coin launched by the GOAT Foundation on the Fantom blockchain, was among the top gainers on CoinGecko on Sunday afternoon, according to current market data.

The team behind Speedy, which includes blockchain technology experts like Gonzales Spidorius, who serves as CIO, has seen the token rise over 150%. The cryptocurrency’s all-time high is hovering around $0.03346; The all-time low was $0.0007253 on October 20.

See the table below.

Chart from CoinGecko

Meanwhile, ApeCoin (APE) is up 105.0%.

According to its data, APE was trading in a range of $0.7393 to $1.66 in the 24-hour range. A closer look at the price over the last seven days shows that the coin rose from $0.6981 to $1.57.

What triggered the Chart Increase from CoinGecko?

Although the spike on Speedy could not be confirmed, Ben Crypto, a crypto watcher with more than 30,000 subscribers on YouTube, took a closer look at the situation.

Yes, turtles move slowly, but this buck is fast. It won’t be slowing down anytime soon… for a full two weeks this coin was below $1 million in market cap. “It then quickly rose to nearly $10 million over the next few days, pulled back slightly, and went parabolic in the last two days.”

See below.

Ben Crypto explained that if you invested $1,000 during this period, it would now be $30,000. If you invested $3,000, it would only be around $100,000.

He recommends always looking for cryptocurrencies with a market cap of $1 million that have been traded for at least a week. From where? He argues that rug-pulling has minimal downside risk and a high risk-to-reward ratio.

As for ApeCoin, the primary reason for the bullish momentum appears to be the launch of ApeChain, a new Layer-3 blockchain.

ApeCoin X account made an official statement regarding this development. “Bridges are alive. Bring your tokens to ApeChain now to start earning local returns from ApeCoin, APE, ETH and various stablecoins,” he said.

The newly launched ApeChain offers several key features that contribute to positive market sentiment.

Now that the bridge has been launched, token holders can now move their tokens to the ApeChain, Ethereum (ETH), and Arbitrum (ARB) chain.

Their team announced that holding ApeCoin on ApeChain puts their APE in automatic yield mode, allowing users to earn yield on APE, ETH, and other stablecoins.

The ApeCoin team also announced on X that memes on ApeChain increased by over 12,000%.

APE coin was in a downward trend in the second half of 2024. The coin had touched an all-time low of $0.482 in August 2024. However, the coin is up over 215% since that low.

The recent ApeChain launch also pushed the price above $1.5. However, it remains to be seen whether APE can maintain the $1.50 level.

ApeCoin is the native cryptocurrency of Bored Ape Yacht Club’s collection of non-fungible tokens. It was launched in March 2022 by Yuga Labs and is governed by the ApeCoin DAO, which allows coin holders to vote on the direction of the ecosystem.