ApeCoin Price Surges 21% Following Star-Studded Events Over the Week

Fashion House Gucci Now Accepts ApeCoin (APE) in U.S Stores
  • The value of ApeCoin has surged by over 35 percent in the previous week.
  • Eminem and Snoop Dogg unveiled their new tune, “From the D 2 The LBC.”

Owners of the Bored Ape Yacht Club seem to have prevailed after a frantic week of star-studded live events. According to CMC, there was a 21 percent increase in ApeCoin, the native Ethereum token of the renowned NFT collection. Currently, the currency is trading at $4.86, down from the high of $5.26 it reached in the morning. The value of ApeCoin has surged by over 35 percent in the previous week.

APE/USDT: Source: TradingView

Eminem and Snoop Dogg’s Viral Video

Despite the recent rise in price, the token has had a challenging month, falling 65% at a rate unprecedented even in the present bad market. Otherside’s virtual land NFT sales pushed ApeCoin’s price to an all-time high of just shy of $27 in late April. Holders of ApeCoin may vote on ApeCoin DAO governance proposals using their ApeCoin.

Eminem and Snoop Dogg, two of the most well-known rappers and BAYC ambassadors, appeared in an animated music video featuring “Bored Ape” on Friday, which may have contributed to the recent increase in the price of ApeCoin. More than 7.5 million people have seen the song’s music video since it went viral this weekend.

At ApeFest, an annual meeting of BAYC and Mutant Ape Yacht Club (MAYC) members, Eminem and Snoop Dogg unveiled their new tune, “From the D 2 The LBC,” live on Friday. LCD Soundsystem, Haim, Lil Wayne, Lil Baby, and Future performed at the private event, which took place in New York City the same week as NFT NYC. Famous musicians like Eminem and Snoop Dogg promoting the BAYC brand in a music video shows how far and wide NFT collections have spread.

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Content writer by profession. A crypto lover and has passion for writing. Follows the developments of digital currency right from its launch, years ago.