ApeCoin Price Predictions: Where Can Elon Musk Take the APE Crypto?

Today’s price action in the world of meme tokens has generally been positive. For investors in ApeCoin (APE-USD), perhaps even more so. This top meme token has surged more than 6% over the past 24 hours, leading to tremendous interest in expert ApeCoin price predictions.

A smartphone with the Apecoin logo on top of money.
Source: mundissima / Shutterstock.com

Like many other meme token surges, it appears Elon Musk is once again behind this move. Today, he changed his profile image on his Twitter profile to a collection of NFTs from the Bored Ape Yacht Club collection. Yuga Labs, which is behind the BAYC and associated with ApeCoin, remains the hottest brand in the NFT world. With the endorsement of Musk, this popularity has surged further.

Accordingly, speculation is now abounding as to whether Mr. Musk has any ownership in a BAYC NFT or ApeCoin. This weekend, a high-profile mint of NFTs for a Yuga Labs’ metaverse project, Otherside, took the market by storm. This mint led to surging Ethereum (ETH-USD) gas fees, and a number of disgruntled potential buyers who missed out on the mint.

However, it’s clear that Yuga Labs and the Bored Ape Yacht Club are here to stay. For ApeCoin holders, this is the latest in a series of speculative catalysts that has resulted in volatility in this token. Whether this surge can continue remains to be seen. But with that said, let’s take a look at how high the experts think this token can go.

ApeCoin Price Predictions

For context, APE currently trades at $15.93 per token .

  • WalletInvestor provides a 1-year and 5-year price forecast of $30.50 and $87.36, respectively, for APE.
  • Similarly, Gov Capital forecasts APE could be worth $27.86 in one year and $148.65 in five years.
  • Finally, DigitalCoinPrice puts forward price targets of $22.77 for 2023 and $36.62 for 2027.

On the date of publication, Chris MacDonald did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.

Chris MacDonald’s love for investing led him to pursue an MBA in Finance and take on a number of management roles in corporate finance and venture capital over the past 15 years. His experience as a financial analyst in the past, coupled with his fervor for finding undervalued growth opportunities, contribute to his conservative, long-term investing perspective.

Article printed from InvestorPlace Media, https://investorplace.com/2022/05/apecoin-price-predictions-where-can-elon-musk-take-the-ape-crypto/.

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