Elena R
The leading cryptocurrency exchange by globally registered users and daily average trading volume, Binance, announced the introduction of Banana Gun ($BANANA) as the first project on the Binance HODler Airdrops. Notably, $BANANA is the native token for the Banana Gun bot ecosystem, which provides trading tools for on-chain tokens.
Binance announced that users who subscribed their BNB to simple earn products from June 23 to July 5, 2024, will be eligible for the $BANANA airdrop. The cryptocurrency exchange will list BANANA on Saturday with a seed tag under Bitcoin, USDT, TRY, FDUSD, and BNB trading pairs.
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.
The small-cap meme coin, with a fully diluted valuation of about $616 million and a daily average traded volume of around $37 million, has around 10k on-chain holders.
According to on-chain data, the Banana team project burned 10 percent of the total supply and locked around 45 percent for Token Vesting.
$BANANA Price TargetsÂ
Following the heightened demand for $BANANA tokens by whale investors and speculative retail traders amid the upcoming Binance listing, the price surged more than 61 percent in the past week to hover around $69 on Friday.Â
The altcoin is already in price discovery after reaching an all-time high of around $75 in the past 24 hours. From a technical standpoint, the $BANANA price aims for the next liquidity level around $91, which coincides with the daily 3.618 Fibonacci Extension.
