APE,

It is unfortunate but speaking bluntly it is a derived product of the NFT boom. It is technically not affiliated to BAYC NFT’s (At least until the SEC finds a way to link it! Plenty of on-chain circumstantial evidence…). However, meta-verse dreams (I am yet to figure out how blockchain and meta-verse are related technologies… Does not seem obvious to me…) apart, APE is a token that was given freely to the overnight multi-millionaire BAYC owners. A number of legal experts have shown opposition to the BAYC NFT issuance model and if the SEC moves against BAYC (Not saying it will happen but not dismissive of it happening either!), APE price has 0 support. At this moment the safe buy zone for APE is 1.03$ and the sure sell stands around 28$. Least we have major bullish catalysts in the horizon (No a METAVERSE project drop/swap is not a major bullish catalyst. It is just a pump and dump oportunity as demonstrated by APE performance since Saturday.); ape will perhaps turn into the biggest rug pull of 2022. Time will tell. Not buying. Token is toxic to me.

🙂