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<p class="is-style-lead">Meme coins Speedy and ApeCoin have both experienced price increases of over 100% within the past 24 hours.</p>
<p>Current market data reveals that Speedy (SPEEDY), a meme coin launched on the Fantom blockchain by The GOAT Foundation, was one of the top performers on CoinGecko as of Sunday afternoon.</p>
<p>The team behind Speedy, which includes blockchain technology experts such as CIO Gonzales Spidorius, witnessed the token soar over 150%. The coin's all-time high is approximately $0.03346, with its all-time low recorded on Oct. 20 at $0.0007253.</p>
<p>Refer to the chart below. </p>
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<source type="image/webp" srcset="https://crypto.news/app/uploads/2024/10/Speedy_chart-1024x747.png.webp"/>
<img loading="lazy" decoding="async" width="1024" height="747" src="https://crypto.news/app/uploads/2024/10/Speedy_chart-1024x747.png" alt="Turtle-themed Speedy, Bored Ape's ApeCoin spike over 100% - 1"/>
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<figcaption class="wp-element-caption">Chart from <a href="https://www.coingecko.com/en/coins/speedy-2" target="_blank" rel="nofollow">CoinGecko</a></figcaption></figure>
<p>ApeCoin (APE), on the other hand, experienced a 105.0% increase.</p>
<p>According to their data, APE was trading within a 24-hour range of $0.7393 to $1.66. An analysis of the price over the last week indicates that the coin surged from a low of $0.6981 to $1.57.</p>
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<source type="image/webp" srcset="https://crypto.news/app/uploads/2024/10/chart-4-1024x772.png.webp"/>
<img loading="lazy" decoding="async" width="1024" height="772" src="https://crypto.news/app/uploads/2024/10/chart-4-1024x772.png" alt="Turtle-themed Speedy, Bored Ape's ApeCoin spike over 100% - 2"/>
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<figcaption class="wp-element-caption">Chart from <a href="https://www.coingecko.com/en/coins/apecoin" target="_blank" rel="nofollow">CoinGecko</a></figcaption></figure>
<h2 class="wp-block-heading">What caused the surge?</h2>
<p>While the sudden spike in Speedy can’t be confirmed, crypto analyst Ben Crypto, who boasts over 30,000 subscribers on YouTube, took a closer look.</p>
<blockquote class="wp-block-quote is-layout-flow wp-block-quote-is-layout-flow">
<p>“Sure, turtles move slowly, but this coin is fast. It's not showing signs of slowing down any time soon... For a full two weeks, this coin was under a $1 million market cap. Then, within just a few days, it quickly jumped to around $10 million, retracted slightly, and in the last two days, it has gone parabolic.”</p>
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<p>Check below.</p>
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<p>If you had invested $1,000 during this period, it would be worth $30,000 now, Ben Crypto explained. An investment of $3,000 would yield around $100,000.</p>
<p>He advises always looking for coins with market caps of $1 million that have traded for at least a week. Why? There’s minimal risk of a rug pull, and the risk-reward ratio is favorable, he argues.</p>
<p>As for ApeCoin, the primary driver behind the bullish trend seems to be the launch of ApeChain, a new Layer-3 blockchain.</p>
<p>The ApeCoin X account made an official announcement regarding this development, stating, “Bridges are live. Bring your tokens to ApeChain now to start earning native yield on APE, ETH, and various stablecoins.”</p>
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<p>The newly launched ApeChain presents several key features that have fueled positive market sentiment.</p>
<p>With the launch of the bridge, token holders can now transfer their tokens to ApeChain, Ethereum (ETH), and the Arbitrum (ARB) chain.</p>
<p>Their team mentioned that holding ApeCoin on ApeChain automatically enrolls APE in yield mode, allowing users to earn yields on APE, ETH, and other stablecoins.</p>
<p>The ApeCoin team also <a href="https://x.com/apecoin/status/1847786347076981232" target="_blank" rel="nofollow">reported</a> on X that memes on ApeChain have risen by over 12,000%.</p>
<p>The APE coin has been on a downward trajectory in the latter half of 2024, having reached an all-time low of $0.482 in August 2024. However, it has since surged by over 215% from that low point.</p>
<p>The recent launch of ApeChain has also propelled the price above $1.5, but it remains to be seen if APE can maintain the $1.50 threshold.</p>
<p>ApeCoin is the native cryptocurrency for the Bored Ape Yacht Club non-fungible token collection. Launched in March 2022 by Yuga Labs, it is governed by the ApeCoin DAO, allowing coin holders to participate in ecosystem governance.</p>
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Turtle-themed Speedy, ApeCoin Prices Surge Over 100%[embed]https://www.youtube.com/watch?v=GkTyGZ6zqwI[/embed]

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