ApeCoin (APE), the governance and utility token for the APE ecosystem, has surged in value, doubling to $1.50 since the weekend. This strong price action has fueled a wave of bullish sentiment among traders, particularly on the altcoin-focused derivatives platform, PowerTrade.
Traders are actively purchasing call options on APE, with a focus on the Oct. 22 and Oct. 25 expiry contracts. Notably, some traders have even bought call options with strike prices as high as $2.2, indicating their strong belief in APE's potential to continue its upward trajectory. This strike price represents nearly a 50% increase from APE's current market value.
The surge in APE call options volume reflects the growing bullish sentiment surrounding the token, driven by its recent price gains and the potential for future growth within the APE ecosystem.
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