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The ApeCoin is a cryptocurrency for the members of the Bored Ape Yacht Club. It is a governance and utility token based on the.Ethereum blockchain. The currency was distributed to Bored and Mutant ape NFT holders first, with members receiving between 1000 and 2000 tokens respectively. The price of the token got to a peak of $39.40 and hovered at $10 within 24 hours of token launch. The value of the Ape coin has surged through rumors that the Metaverse project is getting involved in the high-profile project.