How high can the price of ApeCoin (APE) go after the bridge launch?

TL:DR;

ApeCoin made the news over the weekend after launching its bridge that allows users to earn a return on certain crypto assets, including APE. The price of the native token soared more than 60% in a few hours, leaving questions about how much higher it can go.

APE target prices

CryptoPotato reported earlier today about the massive achievement of the ApeCoin team. After months of being on the sidelines without attracting significant attention from the general public, the developers announced the official release of the ApeChain bridge. It allows investors to earn native returns on assets such as APE, ETH and some stablecoins.

Automatic Yield Mode ON APECHAIN: This is the default mode for all Externally Owned Accounts (EOA), where yield is automatically earned on each block.

The APE balance of the address is increased by the amount of performance obtained each block without the need for manual intervention.

— ApeCoin (@apecoin) October 20, 2024

The effects on APE’s price were immediate, with the asset soaring more than 65% at one point and approaching $1.3 for the first time since June. It became the top performer over the dull weekend and returned to the 100 largest altcoins by market capitalization, with its own shot up to $900 million earlier today.

As such, we asked Perplexity, the popular AI chatbot, about the potential for APE to grow even further in the coming months and years, given developments around the underlying project.

2, 2.2 or 5.58?

ChatGPT’s rival outlined a $1.36 price target for APE during October, meaning the asset could have already peaked this month. He also predicts a smaller pullback and quieter price fluctuations in November.

However, Perplexity is bullish on APE over the next few years. He said the asset could rise to $1.92 next year, $2.2 in 2026 and up to $5.58 in 2030. However, these levels are still far from APE’s all-time high, recorded in April 2022 of $26.7.

Perplexity believes there are three main factors that could influence a potential increase in APE prices:

The performance of the Bored Ape Yacht Club ecosystem. Broader market trends in cryptocurrency. Developments within the ApeCoin DAO and its governance decisions. SPECIAL OFFER (Sponsored) Binance Free $600 (Exclusive to CryptoPotato): Use this link to register a new account and receive an exclusive welcome offer of $600 to Binance (full details).

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