Turtle-themed Speedy, Bored Ape’s ApeCoin spike over 100%

Meme coins Speedy and ApeCoin have both experienced significant price increases, each surging by more than 100% in the past 24 hours.

According to the latest market data, Speedy — a meme coin launched on the Fantom blockchain by The GOAT Foundation — was among the top gainers on CoinGecko as of Sunday afternoon.

The Speedy token saw a sharp spike of over 150%, with the team behind the coin, including blockchain experts like Gonzales Spidorius (Chief Information Officer), driving the surge. The token’s all-time high stands at around $0.03346, while its all-time low was recorded on Oct. 20 at $0.0007253.

ApeCoin ape 63.29%, meanwhile, enjoyed a 105.0% increase.

Per their data, APE was trading in a 24-hour range of $0.7393 to $1.66. A closer look at the price in the last seven days shows that the coin has surged from a low of $0.6981 to $1.57.

What triggered the surge?

While the cause behind Speedy’s sudden surge remains unclear, Ben Crypto — a crypto analyst with over 30,000 YouTube subscribers — took a closer look at the situation.

He commented, “Yes, turtles move slow, but this coin is fast. It ain’t slowing down anytime soon… for the last two weeks, this coin was trading under a $1 million market cap. Then, in just a few days, it quickly skyrocketed to around $10 million, pulled back slightly, and in the past two days, it has gone parabolic.”

Ben Crypto explained that if you had invested $1,000 during this period, it would now be worth $30,000. Similarly, a $3,000 investment would be worth about $100,000.

He advises looking for coins with a market cap of around $1 million that have been trading for at least a week, as they offer minimal downside risk of a rug pull and present a favorable risk-reward ratio.

As for ApeCoin, the bullish momentum can be attributed to the launch of ApeChain, a new Layer-3 blockchain. The official ApeCoin X account made the announcement: “Bridges are live. Bring your tokens to ApeChain now to start earning native yield on APE, ETH, and various stablecoins.”

The recently launched ApeChain is fueling positive market sentiment with its key features, contributing to a surge in interest for ApeCoin (APE).

With the ApeChain bridge now live, token holders can seamlessly transfer their assets to ApeChain, as well as to Ethereum (ETH) and Arbitrum (ARB) chains. One of the standout features of ApeChain is the automatic yield mode for ApeCoin holders, allowing them to earn yields on APE, ETH, and various stablecoins simply by holding their tokens on the chain.

In an announcement on X (formerly Twitter), the ApeCoin team also shared that memes on ApeChain have seen an incredible 12,000% increase in activity, further enhancing the hype surrounding the new network.

After a rough second half in 2024, where APE touched an all-time low of $0.482 in August, the token has now surged over 215% from that low. The recent ApeChain launch has been a major catalyst, pushing the price above $1.50. However, it remains to be seen if APE can maintain this new level.

Launched in March 2022 by Yuga Labs, ApeCoin is the native cryptocurrency of the Bored Ape Yacht Club (BAYC) NFT collection. The coin is governed by the ApeCoin DAO, giving holders the ability to vote on key decisions regarding the ecosystem’s direction.