ApeCoin Flips The Bullish Switch Following Eminem And Snoop Dogg's New Music Video Release

ApeCoin (APE) turned bullish after the release of a new music video from renowned hip-hop artists, Eminem and Snoop Dogg. In the music video, the two can be seen transforming into animated versions of their Bored Ape avatars.

Eminem and Snoop Dogg are owners of Bored Ape Yacht Clubs (BAYC) NFTs. While the former purchased it due to its resemblance to his own self, the latter confirmed his purchase of BAYCs in later December 2021.

In the music video released by the two mainstream rappers Friday, they transform into their BAYC avatars to show support for the NFT collection by Yuga Labs. As of 10:15 pm ET, the music video titled "From The D 2 The LBC" garnered over 8.096 million views.

ApeCoin (APE), an ERC-20 governance and utility token used within the APE Ecosystem, flipped the bullish switch following the release of the music video. As per data from CoinMarketCap, the price of APE jumped from a low of $4.2 on June 25 to a high of $5.3 on June 26, marking a rise of 26%.

According to CoinGecko, the prices for APE rose by 16.4% in the last 7 days. But overall, its prices declined by 20.7% in the last 30 days owning to the widespread sell-off prevalent in the crypto space.