The floor price of Bored Ape has doubled in a month, with Yuga Labs CEO Michael Figge stating that blue-chip NFTs were oversold.
Drivers Behind Bored Ape's Recovery
This rebound comes as memecoins and other high-risk assets outperform more conservative sectors like DeFi News, indicating that retail traders are beginning to return to the market after months of stagnation.
Meanwhile, Pudgy Penguins have also seen a significant rise, as traders speculate that the long-rumored OpenSea token launch will reignite broader market activity.
Market Data and Holder Background
Figge countered critics by pointing out that the number of unique holders has not doubled alongside the price increase. He stated, “Optimists will say the price has doubled, but the number of unique holders has not doubled. This is actually just a recovery from a period of excessive price decline.”