ApeCoin (APE), an altcoin focused on the NFT space, has seen a 100% price rally in the past week.The growth of ApeCoin is attributed to its NFT ecosystem and adoption by institutional investors and retail traders.The project launched its mainnet blockchain, Apechain, to enhance NFT minting and trading.The APE price is currently retesting a crucial resistance level and aims for $2.71, but may fall to $1.24 if rejected.