I believe that $APE will fall 47% from the current price. Here is why.

I heard a lot of noise on the recent ApeCoin launch, so I went ahead and did a fundamental analysis on the token. What I found isn't pretty. I believe that one year from now, $APE's price will be $7 (-47% vs. current price).

4 reasons:

• Low level of decentralization means the Ape DAO does not add much value.
• Compared to other crypto projects (e.g., Polychain, Axie Infinity), the ApeCoin's market cap is very expensive vis-a-vis Yuga Labs' private valuation.
• Extremely hard for Yuga Labs' upcoming land sales to repeat BAYC's success
• Yuga Labs has no experience in gaming. Its BAYC's success is due to fantastic marketing & sales.

My blog post in full: https://www.dantehq.com/article/I6So_QvrMeV48TYPjsPctR/twilight-of-the-apes-the-bear-case-for-apecoin