ApeCoin price faces headwinds as the NFT token sees a spike in | https://t.me/nftsdefinews

ApeCoin price faces headwinds as the NFT token sees a spike in profit-taking

ApeCoin price suffered a drop after posting 16% gains and hitting a new all-time high above $17.30. Analysts believe ApeCoin could continue its downward spiral and drop lower.

ApeCoin price has plummeted, posting 8% losses overnight. The NFT token hit a new all-time high less than 24 hours ago and ApeCoin price has plunged since then. Proponents identified profit-taking and the rise in selling pressure as the key reasons for the NFT token’s price drop. ApeCoin price hit an all-time high, followed by a surge in profit-taking by holders. The Bored Ape Yacht Club NFT collection floor price recently hit an all-time high crossing 124 ETH.

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