Home » Binance Coin jumps to new BTC all-time high as Elon Musk’s Twitter fuels DOGE bulls

Binance Coin jumps to new BTC all-time high as Elon Musk’s Twitter fuels DOGE bulls

by admin

Binance Coin (BNB) hit a new all-time high against Bitcoin (Bitcoin) amid growing excitement about the future role of cryptocurrencies on Twitter.

BNB/BTC 1 month candlestick chart (Binance).Source: Trading View

Binance Coin Sets New Record Against BTC

data from Cointelegraph Market Pro When TradingView We see BNB/BTC surge above 0.15 BTC to a record high of 0.15267 BTC on October 30th.

The internal token of Binance, the largest cryptocurrency exchange by volume, has risen by almost 10% in the last 72 hours.

The strong performance comes on the back of reports that Binance is gearing up to help eradicate Twitter bots as part of a new direction under Elon Musk.

binance had donated $500 million To Musk’s hijacking of social media platforms.

“Our intern said he transferred $500 million two days ago, probably just when I was asked about Elon/Twitter,” said CEO Changpeng Zhao. I have written In a cryptic tweet referencing comments to crypto media outlet Decrypt.

Further posts include “Let’s unleash the birds” and “crypto Twitter,” the former apparently referring to Musk’s tweet. my tweet“The bird has been released.”

Meanwhile, in USD terms, BNB hit a high of $318.80, its best performance since mid-August.

BNB/USD 1-day candlestick chart (Binance). Source: Trading View.

Dogecoin ‘copy itself’ to April highs

Musk recently launched another popular cryptocurrency — Dogecoin (Doge).

Related: Dogecoin price rises 150% in 4 days, but DOGE is most ‘overbought’ since April 2021

a familiar setupan action by Musk linked to Twitter sent DOGE price action into a frenzy, pushing DOGE/USD to its highest level since April.

Long a favorite of Musk’s, DOGE is still awaiting wider application, perhaps due to his involvement.

Meanwhile, popular analyst Tree of Alpha suggestretail traders can work with the help of both the Twitter and Binance ecosystems.

“Another completely silent ATH because dog coins please,” he wrote of BNB.

“Imagine what it smells like when Launchpad becomes a hot topic again and retailers start buying trash in bulk on BSC. Are you actually declining?”

DOGE/USD 1-week candlestick chart (Binance).Source: Trading View

On the other hand, the Analytics account Stockmoney Lizards I got it The striking similarities between DOGE price action and the Relative Strength Index (RSI) are repeated this year.

“Dogecoin copies itself,” he summarized.

DOGE/USD annotated chart. Source: Stockmoney Lizards/ Twitter

The views and opinions expressed herein are solely those of the author and do not necessarily reflect the views of Cointelegraph.com. All investment and trading movements involve risk. You should do your own research when making a decision.