Author: Lawrence, MarsBit
In the past two days, the gaming sector has experienced a long-awaited resurgence, and the long-anticipated sector rotation effect has finally begun to show signs.
The most attention-grabbing event in the market is undoubtedly the price surge of $APE, which has doubled in a short period. It seems to be driven by the entire gaming sector, but a closer look at social media reveals that yesterday's hot topics were about goats and geese memes, while today has switched to Apechain.
That's right, Apechain has also decided to join the Meme Pump trend.
Apechain Enters the Meme Market
At 4:30 AM (UTC+8) on October 20, Apechain launched its first Meme Pump application—Ape Express, and Apecoin's official account quickly followed up with active interactions. This wave of operations directly ignited the BAYC community. After a long bear market and half a bull market, the OGs of BAYC finally had a window to unleash their Meme wealth emotions. Within just one hour of launch, Ape Express's trading volume surpassed one million dollars, reaching an astonishing figure of 25 million dollars within 12 hours.
Popular Tokens on Ape Express
Based on market capitalization rankings, several popular tokens have emerged in the Apecoin ecosystem over the past few days.
BORED ($BORED) - OG Name + Icon
24H Trading Volume: 2.4 million dollars
Current Market Cap: 17.58 million dollars
Highest Market Cap: 23.24 million dollars
Curtis ($CURTIS) - Founder of BAYC
24H Trading Volume: 12.3 million dollars
Current Market Cap: 10.87 million dollars
Highest Market Cap: 28.97 million dollars
Crypto Is Fun ($CIF) - The First Meme Token on Apechain
24H Trading Volume: 4 million dollars
Current Market Cap: 2.34 million dollars
Highest Market Cap: 8.5 million dollars
APE ($APE)
24H Trading Volume: 1.8 million dollars
Current Market Cap: 1.24 million dollars
Highest Market Cap: 6.1 million dollars
Don't Rush to All In, Beware of Phishing
On one side, Apecoin's price is soaring, while on the other, new golden dogs are launching on-chain, and restless players are eager to go all in. However, where there is money, there are scammers. The emergence of Apechain has not only attracted players but also caught the attention of phishers eyeing this new cake. Less than an hour after Ape Express went live, Pop Punk, co-founder of the Web3 security platform g8keep, revealed that he was phished on ApeChain, losing 110,000 dollars.
Even seasoned security experts can fall victim when emotions run high, highlighting the rampant nature of on-chain scams.
How to Participate Safely in Ape Express?
Add the Apechain Network
First, transfer Apecoin to an ETH mainnet wallet while adding Apechain:
- Network Name: ApeChain
- Network Address: https://apechain.calderachain.xyz/
- Chain ID: 33139
- Currency Symbol: APE
Use the Official Cross-Chain Bridge
Transfer Apecoin from the ETH mainnet to Apechain through the official cross-chain bridge. Every step must be carefully verified, including wallet connections and signature approvals. For unfamiliar operations, it is advisable to try with a small amount first.
Official Cross-Chain Bridge: https://apechain.com/portal
Trading Experience
Enter Ape Express and select tokens for trading. For example, the current highest market cap token, $CURTIS, is a good example.
Meme: A Lifeline for Reviving Old Projects?
As of the time of writing, Apecoin's increase today has exceeded 100%, driving up some gaming sector tokens as well. Meanwhile, it is rumored that dYdX will also launch a Meme Pump application, and once this news spread, $DYDX quickly surged by 30%. It is evident that the market is currently receptive to old projects entering the Meme space, similar to last year's inscription craze and this summer's TRON Pump, with Meme once again becoming the preferred method for old projects to regain attention.
Apechain has made a good first step into the market through Meme; whether it can sustain this momentum remains to be seen.
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