Black_background_logo_BitcoinWorld-removebg-preview
Blockchain News

Could ApeCoin “dash” to the top with this game? These metrics suggest…

Sales of Bored Ape Yacht Club [BAYC] NFTs and associated projects such as Mutant Ape Yacht Club [MAYC] and Bored Ape Kennel Club (BAKC) collections soared when producer Yuga Labs unveiled its intentions for Dookey Dash on January 12.

Dookey Dash is a skill-based online game that requires NFT and has yet-to-be-announced awards for the highest scores. The goal of the game is to collect as many things as possible while navigating a cartoonish sewage terrain as far as possible without dying.

Yuga Labs will shortly release a “Sewer Pass” NFT mint, and holders of BAYC or MAYC NFTs will be able to claim it for free. Sewer Pass subscribers can play Dookey Dash an unlimited number of times until the game’s termination on February 15th.

Sewer Passes will be accessible for secondary market trading on the 15th of February in order to involve people from beyond the Bored Ape environment.

The ecosystem’s token, APECoin [APE], on the other hand, did not appear to be pleased with the latest developments around the BAYC and accompanying NFTs. APE had been rising in value and had risen by 32% prior to the news on January 12.

The daily period chart, however, shows that it has lost around 5% of its rally as of this writing. There were also hints that a price change might result in a significantly lower pricing.

Despite the price decrease, the Directional Movement Index (DMI) revealed that the asset was still in a strong bull trend. When the indication was detected, the positive DI and the signal line were both more than 20.

Furthermore, the Relative Strength Index (RSI) line was above 75, indicating a strong bull trend. The RSI line’s location, however, indicated a likely price correction because APE was in the overbought range.

If the freshly released game is a success, APECoin may benefit in the long run. APE, in addition to being the “currency” of the Sewer Pass ecosystem, might be used as a medium of exchange once the Sewer Pass NFT is released to the market. As a result, its demand and price may rise.

 

Crypto products and NFTs are unregulated and can be highly risky. There may be no regulatory recourse for any loss from such transactions. Crypto is not a legal tender and is subject to market risks. Readers are advised to seek expert advice and read offer document(s) along with related important literature on the subject carefully before making any kind of investment whatsoever. Crypto market predictions are speculative and any investment made shall be at the sole cost and risk of the readers.