Get 40% Off
🤯 This Tech Portfolio is up 29% YTD! Join Now to Get April’s Top PicksGet The Picks – Just 99 USD

ApeCoin (APE) Spikes 25% As Eminem and Snoop Dogg Show Support for BAYC

Published 06/27/2022, 08:32 AM
Updated 06/27/2022, 09:30 AM
ApeCoin (APE) Spikes 25% As Eminem and Snoop Dogg Show Support for BAYC

ApeCoin (APE) Spikes 25% As Eminem and Snoop Dogg Show Support for BAYC

ApeCoin (APE) enjoyed one of its biggest rallies since launch as Snoop Dogg and Eminem, two of the most popular rappers in the world, released a music video featuring the Bored Ape Yacht Club (BAYC) collection.

BAYC Features in Music Video

On Friday, June 24th, Snoop Dogg and Eminem, two of the most prestigious holders and ambassadors of BAYC, released the music video for their new single dubbed “From The D 2 The LBC“.

The video, which now has over 8.4 million views on YouTube, features the BAYC collection. In the reel, the usually static Bored Ape avatars owned by Snoop Dogg and Eminem were brought to life in animation, as the legendary rappers showed their support for the blue-chip NFT collection.

ApeCoin (APE) Jumps 25%

ApeCoin (APE), a governance and utility token used within the APE Ecosystem, turned bullish following the music video’s release, rallying by as much as 25% while other cryptocurrencies traded sideways over the weekend.

The 7 day price chart for ApeCoin (APE). Source: CoinMarketCap

The price of APE quickly spiked from a low of $4.2 on June 25 to a high of $5.26 on June 26, marking a rise of 25%. Retracing after the sharp price jump, APE now trades at $4.90 and is the 36th biggest crypto with a market cap of $1.485 billion.

On the Flipside

  • Yuga Labs, the creators of BAYC, has filed a lawsuit against Ryder Ripps, alleging that the online provocateur has been “scamming” investors with fake BAYC NFT offerings.

Why You Should Care

The support BAYC continues to receive from celebrities has been a true boon to the value of the collection, and the ecosystem at large.

The support BAYC continues to receive from celebrities greatly boosts the value of the collection and the entire ecosystem.

Get more insight into Yuga Labs’ recent efforts to protect the value of BAYC below:

Yuga Labs Removes Code that Allows Creation of Infinite Bored Apes NFTs

The moves comes at a fortuitous time for the struggling collection, find out more:

Bored Apes NFTs Hit a Yearly Record Low, Floor Price Drops Below $100K

Continue reading on DailyCoin

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.