- The bottom price of Azuki saw a significant drop, while Yuga Labs saw positive trends.
- The price of APE fell even as sentiment turned negative.
Azuki, a prominent blue chip NFT collection on the Ethereum [ETH] network, experienced a significant bottom price drop in recent days. In the past 24 hours, Azuki’s bottom price has plummeted 17.5 ETH to 14.11 ETH at the time of going to press, representing a drop of more than 11%.
Realistic or not, here is APE’s market cap in terms of BTC
Will NFT floor prices be affected?
Azuki’s price drop can be attributed to market dynamics and demand fluctuations. However, the launch of the Azuki Elemental collection is anticipated, which aims to introduce 20,000 unique pieces.
The excitement is fueled by the promise that every Azuki and BEANZ holder will receive an AirDrop of Soulbound Tokens (SBT), along with a locked Elemental NFT.
It remains to be seen whether the introduction of the Azuki Elemental collection will have a positive effect on Azuki’s floor price and revive interest in the collection.
In contrast to Azuki’s falling prices, other NFT collections from Yuga Labs performed relatively well. Mutant Ape Yacht Club [MAYC] witnessed a 6.76% increase in the bottom price in the past 24 hours, demonstrating the continued popularity and demand for these unique digital assets.
Similarly, Meebits, another popular collection from Yuga Labs, saw a 1.88% increase in its bottom price over the same period.
Source: NFT GO
APE sees red
While Yuga Labs NFTs have done well in terms of rock bottom prices, its companion token, APE, has faced challenges. After testing the $3,522 resistance level, the price of APE fell 34.99% in the second half of June.
The price movement showed multiple lower lows and lower highs, indicating a bearish trend.
Despite APE’s recent price drop, there were signs of a possible recovery. After testing the $1,953 level on June 9, the token showed positive momentum. However, the price movement was not strong enough to establish a more robust bullish trend.
Source: Trade View
Read ApeCoins [APE] Price forecast 2023-2024
When analyzing social engagement, APE received a lot of attention, with a 20% increase in social mentions and a 120% increase in engagement in the last month.
However, weighted sentiment fell significantly, indicating that APE’s negative comments outweighed positive sentiments.
Source: Sentiment
