Why is ApeCoin crashing?

Could you explain why ApeCoin seems to be experiencing a sharp decline in value recently? Is this due to any specific market factors or events that have impacted its performance? Are there any concerns about the long-term viability of the project that may be contributing to the current downtrend? Additionally, how are investors and traders reacting to this development, and what strategies are they adopting to manage their portfolios amidst this uncertainty?