- Lookonchain data shows that Machi Big Brother bought $587,204 worth of APE.
- The price of APE has risen slightly over the last 24 hours.
- APE’s price is looking to challenge the 9-day EMA line.
The blockchain analysis firm, Lookonchain (@lookonchain), posted today that the well known crypto influencer Machi Big Brother has bought Apecoin (APE) from the decentralized exchange, Uniswap, every day for the last 7 days.
The post added that Machi Big Brother staked all of the APE purchased over the past 7 days as well. Lookonchain data shows that Machi Big Brother has now purchased a total of 148,612 APE at an average buying price of $3.95. With the price of APE at the time, the total adds up to $587,204.
CoinMarketCap, the crypto market tracking website, shows that the price of APE has risen 0.42% over the last 24 hours. The altcoin’s price has also strengthened against the two crypto market leaders, Bitcoin (BTC) and Ethereum (ETH), by 0.27% and 0.15% respectively. At press time, one APE coin is worth approximately 0.0002116 BTC and 0.002938 ETH.
The price of APE is trading below the 9 and 20-day EMA lines after a massive spike in sell volume on December 16, 2022. This sell volume resulted in APE’s price dropping from a high of $4.059 to a low of $3.390. Since then, the price of APE has consolidated in a price channel between $3.320 and $3.596.
APE’s price is now attempting to challenge the 9-day EMA line, which crossed bearishly below the 20-day EMA line on December 16.
The altcoin’s price may not have enough bullish support to overcome the level if the daily RSI line is any indication. Although the daily RSI line is sloped positively towards oversold, the gradient of the slope is not steep enough to suggest that there will be a strong bullish pump.
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