BNB Slides 2% Amid Memecoin Unwinding, Even After “Hard to Ignore” Rally

BNB Falls 2% as Memecoin Trades Retrace Amid High Network Activity

BNB, the native token of BNB Chain and widely used for transaction fee discounts on Binance, dropped over 2% in the past 24 hours amid a spike in trading volume and unwinding of BNB Chain memecoin trades.

The token fell from $1,308 to $1,255 before recovering to around $1,270. CoinDesk Research’s technical model indicated that high-volume buying near $1,255–$1,280 could signal potential institutional accumulation at lower levels.

Despite the bounce, BNB struggled to reclaim resistance near $1,320, leaving short-term bearish pressure intact.

The pullback coincided with a network milestone: BNB Chain used 5 trillion gas in a single day, driven by 24 million swap transactions, or 77% of total network activity, per Dune data. A new standard gas fee of 0.05 Gwei, adopted by Binance and Trust Wallet, has improved speed and efficiency.

Max Rabinovitch, Chief Strategy Officer at Chiliz, noted that BNB’s growth reflects a highly engaged trading community, emphasizing that community sentiment remains a key driver in the digital asset space.

BNB’s recent decline comes after a 45% monthly surge, making it the third-largest cryptocurrency by market capitalization, behind bitcoin and ether. Corporate accumulation, such as CEA Industries’ 480,000-token holdings, also contributed to the rally.

About The Author

ctleditor

See author's posts