My homework repost for the assignment of last week prof @pelon53
The name and introduction of the project token, and which exchange can it be traded on, team in charge of the project
source APE COIN
Ape coin is one of the many tokens built or being launched on the eth network which makes it a typical erc-20 token. This is a web3 project and their goal is to enable their users to build at the limelight of web3 and they are being properly incentivized to do so, the ape coin is one which serves a whole lot of benefits or use for one apecoin is the governance token of its whole ecosystem and their users are being allowed to participate in the coin DAO.
And another benefit or use of this project token is that it eliminates centralised parties from the daily transaction of its users by trying to unify their spending and allowing their users spend without requiring any middleman to help carry out this transaction as it is completely decentralized and this project token has also shown itself to be a great tool which helps developers who are looking to participate evenly in their ecosystem and they do this by making sure ape is being rightly integrated into games, services and other projects as well. Indeed apecoin is proven to be a decentralized platform and actually drives its users and cultures into the meta-verse
Apecoin could be trade on binance, etoroX, crypto.com, coinbase, tokocrypto and whiteBIT
The team behind this project token are Alexis Ohanian who is one of the cofounder of reddit, Amy Wu that would be the head of gaming at Ftx, Maaria Bajwa who is the the principal at sound ventures then Yat Siu and Dean Steinback these are those who are massively involved in the development and launching of apecoin
Why Am Bullish On APE Today
For such a young project apecoin has lots of vision for it community and a web3 coin which pushes culture itself into the meta-verse i honestly believe that web3 is the future and will completely takeover the internet as we know today and it's nice to see that apecoin strives to build at the very forefront of web3 itself that fills me with coincidence to know that for a fact this coin is the right coin with nice future and a great team who seems to know what they are doing behind it i have every reason to be bullish especially when it comes to a meter-verse project and things are looking quite bullish for this coin in the immediate short-term.
Technical Analysis On Ape
The analysis was carried out on the hourly timeframe on the price chart of ape and from the analysis it was just pretty clear a case of price bouncing from a support and that gave me enough reason to enter my position, the price was not just support but it stopped at support after a retracement and started pushing up which shows that buyers have stepped in at this level to keep the price from going more down and to push it up so i went to my binance and placed a trade on futures
From my binance app and according to my analsis i placed or entered the market at $10.8 and put my stoploss slightly below the support at $10.4 and the next resistance line according to my analsis will be at $11.62 so that is a potential take profit area so on my binance i out my takeprofit at $11.59 slightly below the resistance for technical reasons incase the price did not perfectly touch the resistance before getting rejected so i placed my trade and from my history on binance i made a realised profit of $1.5 as my trade did hit takeprofit
screenshot from binance
Proof of my trade history on binance
What is My plan? Do you want to keep apecoin for a long time? Or when to sell it?
I am trading on futures so clearly this is not a long term hold in this instance though it is a coin i would love to bag for the long term though in this case am only in it for short while and we remain in it until my takeprofit or stoploss level gets hit then i will exit the market
Do I recommend all people to buy Ape? And The reasons for recommending or not recommending it.
Yes i do if u have money to spare then apecoin is a good coin as good as any as it focuses more on the future and a vision of what might seemingly take over everything with it striving to build at the forefront of web3 which is a step in the right direction which i believe will further propel it in the limelight of one of the top crypto coin and meter-verse project there is giving it's users opportunity to share and spend it's currency in a completely decentralized manner without any centralised party or middle man taking charge or serving as a third party in the transaction so yes i believe this coin has a wonderful vision and a nice future with great potential of being one of the coins that could promise huge returns on investment also due to the fact it's relatively new and is not yet been traded on some major exchanges which if it does could propel it even higher.
Conclusion
Apecoin is a nice coin and am very happy for this contest which has helped me to know this because it enabled me dig more deeper for coins to trade and research on so in all i believe that meter-verse project and web3 are the next big thing that we should watch out for because every thing would soon turn virtual and decentralized we wouldn't want to be left straggling behind