In the aftermath of the landmark sale of Otherdeeds – NFTs key to the upcoming Otherside metaverse – ApeCoin has seen a huge dip in price. This follows a big price increase last week as ApeCoin was the only way for people to actually buy Otherdeeds in the primary sale.
Many predicted the post-mint dip in ApeCoin price
ApeCoin first launched back in March 2022. At that time, we learned that ApeCoin would become the central token of the Yuga Labs ecosystem. To be sure the announcement came with a great deal of excitement and speculation. In any case, the ApeCoin price didn’t shift too much in comparison to other cryptocurrencies, which are all highly volatile.
The real price action for ApeCoin would come about a month later. In particular, after Yuga Labs announced that its then-upcoming mint would take place exclusively in ApeCoin. That news saw the price of the…