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

Meme coins Speedy and ApeCoin have both seen their prices pump by over 100% in the last 24 hours.

According to current market data, Speedy (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 team behind Speedy, which includes experts in blockchain technology like Gonzales Spidorius serving as the CIO, saw the token spike over 150%. The coin’s all-time high hovers at around $0.03346; its all-time low was on Oct. 20, at $0.0007253.

See the chart below.

ApeCoin (APE), 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 sudden surge in Speedy could not be confirmed, Ben Crypto — a crypto observer with over 30,000 subscribers on YouTube took a closer look.

Yes, turtles move slow, but this coin is fast. It ain’t slowing down anytime soon… for full two weeks, this coin was below $1 million market cap. Then, in the next few days, it quickly rose to about $10 million, pulled back slightly then in the last two days, it has gone parabolic.”

See below.

If you invested $1,000 during this period, it would be $30,000 right now, Ben Crypto explained. If you invested $3,000, it would be just around $100,000.

Always look for coins with $1 million market caps that have been trading for at least a week, he advises. Why? There’s minimal downside risk of a rug pull and the risk-reward ratio is high, he argues.

As for ApeCoin, the primary reason for the bullish momentum appears to be the launch of ApeChain, a new Layer-3 blockchain.

The ApeCoin X account made an official announcement regarding this development. “Bridges are live. Bring your tokens to ApeChain now to start earning native yield on APE, ETH, and various stablecoins,” ApeCoin stated.