ApeCoin rebounds after APE price crashes 80% in two weeks: Dead cat bounce or bottom?

2022.05.13 00:27

ApeCoin rebounds after APE price crashes 80% in two weeks: Dead cat bounce or bottom?

ApeCoin (APE) has undergone a sharp recovery after falling to its lowest level in two months. But its strong correlation with Bitcoin (BTC) and U.S. equities amid macro risks suggests more losses could be in store.

APE rebounded by nearly 45% to $7.30 on May 12. The upside retracement move came after APE dropped circa 81% to $5 on May 11, from its record high near $27.50, established on April 28.

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