APE seems to be a coin that whales use to manipulate the market.

A pattern I’ve noticed seems to be:

– Build buying momentum on APE, cause a breakout
– Breakout traders buy APE, pushing the price up
– The APE coins the whales accumulated during the dip get pushed up
– Once all the retail is pumping APE, the liquidity has been taken out of Bitcoin , which probably has a lower price due to APE liquidity going into Bitcoin
– While retail traders are buying APE, whales are accumulating Bitcoin , also causing the price to rise.
– In a euphoric moment of the bear market, everyone “APE’s” in to both APE and Bitcoin .
– Once the whales finish their pump and either Bitcoin or APE has reached heavy resistance, they sell off, causing a crash both in APE and Bitcoin .
– This crash affects the whole market, since the market follows Bitcoin

So what happens?

Whales make more money
Retail traders get poorer APEing into an APEcoin and get dumped on
Whales are able to control the market much easier by sending signals for retail to APE in and give them their liquidity

Soon enough the hype will end. We don’t know when, but at some point, it will.

Buying at this point is pretty risky and not recommended unless you are an experienced trader who is able to ride each wave.