Binance Launches $BANANA Airdrop, Token Soars on Listing

Binance the world’s leading cryptocurrency exchange by registered users and daily trading volume, has announced an exciting new development: the launch of Banana Gun ($BANANA) as the inaugural project in its Binance Binance - binance@miceneurol.com Centralised ExchangeCryptocurrenciesTrading AppCryptocurrency investment HODler Airdrops. This move marks a significant milestone for $BANANA, the native token of the Banana Gun bot ecosystem, which offers advanced trading tools for on-chain tokens.

Binance has revealed that users who staked their BNB in Simple Earn products from June 23 to July 5, 2024, will qualify for the $BANANA airdrop. The exchange plans to list $BANANA this Saturday, featuring trading pairs with Bitcoin, USDT, TRY, FDUSD, and BNB.

Rising Demand for $BANANA

Ahead of the upcoming listing on Binance tomorrow, on-chain data shows a smart trader has accumulated around $1.5 million worth of $BANANA in the past 24 hours. The smart trader has been accumulating BANANA tokens in the past as the token hovered between $11 and $20.

With a fully diluted market cap of about $616 million and a daily trading volume of roughly $37 million, the small-cap meme coin has around 10,000 on-chain holders. Notably, the Banana Gun project has burned 10% of its total supply and locked 45% for token vesting, according to on-chain data.

$BANANA Price Targets

Driven by heightened demand from whale investors and speculative retail traders ahead of Binance’s listing, the price of $BANANA has surged more than 61% in the past week, reaching around $69 on Friday.

The altcoin has entered price discovery mode, having recently peaked at an all-time high of approximately $75. From a technical perspective, $BANANA is now targeting the next liquidity level of $91, aligning with the daily 3.618 Fibonacci Extension.

Also Read: List of Top Altcoins For Long Term Gains

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