Is ApeChain the only solution for ApeCoin memes

CoinWorld News Report:
Head project CURTIS falls back more than 50% from its historical high. If the overall meme ecosystem is to continue to develop, the currency must first return to its historical high.
Author: WOO
Background: APECoin creates ApeChain to join the meme battlefield
On October 20th, APECoin skyrocketed nearly 100% in a single day. The reason was that ApeCoin announced the official launch of ApeChain, an Ethereum Layer 2 built using Arbitrum Orbit.
The highlight of this is that users only need to transfer specific currencies such as APE, ETH, USDC, and other stablecoins to ApeChain to receive native income and automatic compounding.
The above can be seen as ApeChain attracting liquidity through this model, and the official launch of Pump Fun – Ape Express on ApeChain ignites FOMO sentiment on the chain.
Pump Fun has been popular since May this year and is one of the most profitable projects on the chain. There have been various imitations, but none have been able to replicate the success of Pump Fun. Why is Ape Express attracting so much attention from the market? What are the key differences compared to previous imitations? Which currencies are worth paying attention to? Finally, what data should be observed to determine whether to enter or exit ApeChain?
Let WOO X Research take you through it.
Why is ApeChain popular?
Rise of APE token: The transmission of liquidity is inevitable from easier places to more difficult ones, just as the rise of public chain tokens can spill over into ecological projects. Applying this logic to APE and ApeChain is similar. The first step for ApeChain to gain popularity is to create demand, and APE must first rise in order for the narrative to continue.
Many ecological whales: Unlike other Pump Fun imitations, Yuga Labs’ NFT holders themselves are mostly ecological giants with strong financial resources. The NFT market has performed poorly in this cycle and urgently needs new narratives to stimulate the original holders’ investment in related product markets.
Official support: If the meme is supported by a public chain, it will be questioned in terms of building perspective and is easily labeled as speculative rather than actually doing something. In politically correct situations, the probability of public chain projects supporting meme launch platforms is very low (except for BeraChain). Most Pump Fun imitations are built by small teams and are mostly cold-started. For users, the trust cost in terms of marketing, branding, and familiarity is extremely high. Yuga Labs embraces new narratives for old projects, and the market is more accepting of slightly changed imitations, rather than mindlessly copying on other chains.
ApeChain Meme Ecosystem Projects
CURTIS: Head project, the concept is the NPC guide in OTHERSIDE, named CURTIS, characterized by wearing Hawaiian shirts and captain hats.
Current price: $0.01318, current market cap: $13.18 million, historical market cap high: $28 million, 24-hour trading volume: $18 million, 24-hour decrease: 6%
CIF: The first meme coin on Ape Express.
Current price: $0.001909, current market cap: $1.9 million, historical market cap high: $8.5 million, 24-hour trading volume: $1.7 million, 24-hour decrease: 65%
BORED: Concept based on Bored in BAYC.
Current price: $0.01292, current market cap: $12.92 million, 24-hour trading volume: $1.3 million, 24-hour increase: 2.4%
Is ApeChain viable? Watch these data points
Rise of the head token: The characteristic of meme coins is to attract users to continuously invest by using the wealth effect. If the rise of the head coin is not sustainable, then other meme coin projects are even more precarious.
The head project CURTIS has fallen back more than 50% from its historical high. If the overall meme ecosystem is to continue to develop, the currency must first return to its historical high.
APE trading volume: Trading volume represents the interest of investors in ApeChain. If the trading volume sharply decreases, it also means a decrease in demand for Ape. Currently, the 24-hour on-chain trading volume has reached $13 million. Looking at the 15-minute trading volume chart, APE peaked at $1 million at 21:00 on October 20th, UTC+8. Currently, the trading volume every 15 minutes is only $50,000 to $100,000.
Funds flowing into ApeChain: The rise of on-chain meme coins depends on the inflow of funds. If the inflow slows down or even flows out, it may indicate the failure of the meme ecosystem plan.
Currently, there is a net outflow on ApeChain. 21:00 on October 20th, UTC+8 was a turning point, synchronized with the above trading volume time node. For players who want to participate in the ApeChain meme ecosystem, it is better to wait for the net inflow of funds on the chain.