ApeCoin Sell-Off Follows ApeChain Launch, Triggering Price Correction

• ApeCoin (APE) whales have sold off millions of tokens following the ApeChain launch, contributing to a price correction.
• Large APE transfers to Wintermute Trading OTC and OKX suggest a potential shift in market sentiment.
• Despite the recent hype around ApeChain, ApeCoin’s price has declined, and technical indicators hint at a possible consolidation phase.

ApeCoin is on the move across multiple wallets, suggesting a sell-off that may be driving the recent price correction.

A dormant wallet associated with ApeCoin transferred 4.58 million APE ($5.22 million) to Wintermute Trading OTC, marking one of several notable outflows following the ApeChain launch four days ago. 

The price jumped after the ApeChain launch, leading to high-value transactions involving three major wallets that first received APE from the ApeCo…

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