ApeCoin (APE) is currently the center of governance-heavy discussions as the DAO votes on proposals related to the development of 'ApeChain', a dedicated blockchain for the Yuga Labs ecosystem. The market is reacting to the potential utility this chain could bring to the APE token, transitioning it from a speculative asset to a native gas token. Today, APE is seeing sporadic trading volume, driven largely by announcements from the Otherside metaverse project. Despite the strong brand association with the Bored Ape Yacht Club, the token has faced downward pressure due to release schedules and general NFT market fatigue. However, the treasury behind ApeCoin remains one of the deepest in the industry, providing ample runway for development. Technicals show APE in a deep accumulation zone. If the dedicated chain launches successfully and integrates seamlessly with gaming and metaverse applications, it could provide the structural demand needed to reverse the current bearish trend.