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ApeCoin’s On-Chain Metrics Point to Local Top Following 78% Climb Over 6 Weeks – Santiment

ApeCoin may have hit a local top after a steady climb of 78% over the past six weeks, according to Santiment Analytics.

The research firm said a divergence between network growth and price is taking shape, which may lead to downward pressure on the token, indicating that a local top may have started to form around January 23.

Whale activity may be another indicator of a local top. In the month of January, whale activity rose significantly with the number of APE sellers exiting at between $4.00 and $6.00.

ApeCoin ApeCoin $1.22
-7.92%
ApeCoin
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