Right from the beginning of the week, the trading price of ApeCoin (APE) has experienced a surge. The rally has been observed following a decision made by Yuga Labs that it is going to allow selected users to access the Otherside metaverse.
ApeCoin Expected to Experience a Significant Surge
Due to the latest announcement made by Yuga Labs, the native token, ApeCoin has recorded great input from the investors. The price of ApeCoin has been growing significantly and it has successfully moved out of the technical pattern.
Following the breakout, it is expected that the trading price of ApeCoin may experience a significant surge. The data shows that the trading price of ApeCoin may surge 45% in the upcoming months. The price prediction of ApeCoin suggests that APE’s price may move higher by the end of September 2022.
Gains for APE due to Otherside Metaverse
On July 19, the trading price of APE moved higher with a strong rally. The data shows that the trading price of APE had surged at a significant rate. The week-to-date graph for APE suggests that its price moved up by 23.5%. At the time of writing, the trading price of APE is worth $6.12.
Yuga Labs Invited 4,300 Players to its Metaverse
To be precise, the rally for ApeCoin started building up on July 16. This is when Yuga Labs officially invited 4,300 players to experience its metaverse. However, Yuga Labs announced that the selected users will be able to access the demo for the Otherside gaming metaverse.
With the access, the users were given access to experience the online avatar platform of Bored Ape. They would be able to tour the environment that Yuga Labs has introduced within the game. Following the announcement by Yuga Labs, the digital asset experienced a strong rally.
A 45% Rally is Expected by the Analysts
According to the analysts monitoring APE, the digital asset is now out of the ascending triangle. It is a pattern that represents a continuation in the trend of a digital asset. These triangles come into being when an asset completes its bearish cycle.
As APE was experiencing a downtrend, the pattern suggests that it will start moving into the ascending channel.
Now, Yuga Labs knows that its new platform is highly anticipated and it may soon introduce its demo platform to more players. However, the platform expects a strong rally as soon as it goes live.
The analysts predict that in this particular scenario, the trading price of APE may grow significantly. The trading price of APE may move to a high of $8.874 and if not much resistance is demonstrated, then APE’s trading price may surge to $9.535.
