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Why ApeCoin Is Crashing Today

TheMotleyFool

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ApeCoin (CRYPTO: APE) is getting crushed in today's trading. The recently launched cryptocurrency was down roughly 25.7% over the previous 24-hour period as of 11:40 a.m. ET Sunday.

In addition to bearish momentum impacting the broader cryptocurrency market, ApeCoin is also losing ground in conjunction with a recent land sale in a metaverse that uses the token as its underlying currency. Even after the big sell-off, the APE token is still up roughly 30% over the last 30 days of trading.

Image source: Getty Images.

Source Fool.com

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