{"id":33684,"date":"2022-10-31T08:18:40","date_gmt":"2022-10-31T08:18:40","guid":{"rendered":"http:\/\/egrowonline.com\/?p=33684"},"modified":"2022-10-31T08:18:40","modified_gmt":"2022-10-31T08:18:40","slug":"bnb-jumps-to-new-btc-all-time-high-as-elon-musks-twitter-fuels-doge-bulls","status":"publish","type":"post","link":"http:\/\/egrowonline.com\/?p=33684","title":{"rendered":"BNB jumps to new BTC all-time high as Elon Musk’s Twitter fuels DOGE bulls"},"content":{"rendered":"


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BNB<\/a>\u00a0(formerly known as Binance Coin)\u00a0has hit new all-time highs against Bitcoin (BTC<\/a>) as excitement grows over the cryptocurrency\u2019s future role on Twitter.<\/p>\n

BNB\/BTC 1-month candle chart (Binance). Source: TradingView<\/em><\/figcaption><\/figure>\n

BNB sets new record against BTC<\/h2>\n

Data from Cointelegraph Markets Pro<\/a> and TradingView<\/a> confirms that BNB\/BTC briefly spiked above 0.15 BTC to a record 0.15267 BTC on Oct. 30.<\/p>\n

BNB, the in-house token of Binance, the largest crypto exchange by volume, has gained around 10% in the past 72 hours.<\/p>\n

The strong performance came on the back of reports that Binance was preparing to assist Twitter in eradicating bots as part of its new direction under Elon Musk.<\/p>\n

Binance had contributed $500 million<\/a> to Musk\u2019s takeover of the social media platform.<\/p>\n

\u201cOur intern says we wired the $500 million 2 days ago, probably just as I was being asked about Elon\/Twitter,\u201d Binance CEO Changpeng \u201cCZ\u201d Zhao wrote<\/a> in a cryptic tweet referencing comments he made to crypto media outlet Decrypt.<\/p>\n

Further posts from CZ stated, \u201cLet\u2019s unleash the bird,\u201d and \u201cCrypto Twitter,\u201d the former appearing to be referencing Musk\u2019s own tweet<\/a>, \u201cthe bird is freed.\u201d<\/p>\n

In U.S. dollar terms, meanwhile, BNB hit highs of $318.80 on the day, its best performance since mid-August.<\/p>\n

BNB\/USD 1-day candle chart (Binance). Source: TradingView<\/em><\/figcaption><\/figure>\n

Dogecoin “copies itself” as it runs to April highs<\/h2>\n

Musk was also responsible for outperformance of another popular cryptocurrency in recent days \u2014 Dogecoin (DOGE<\/a>).<\/p>\n

Related:\u00a0Dogecoin price rallies 150% in 4 days, but DOGE now most ‘overbought’ since April 2021<\/a><\/em><\/strong><\/p>\n

In a\u00a0familiar setup<\/a>, actions by Musk linked to Twitter sent DOGE price action into a frenzy, with DOGE\/USD hitting its highest levels since April.<\/p>\n

Long a pet favorite of Musk, DOGE is still waiting for its shot at a wider use application, possibly with his involvement.<\/p>\n

In the meantime, popular pseudonymous analyst Tree of Alpha suggests<\/a>\u00a0retail traders may do the work, helped by both the Twitter and Binance ecosystems.<\/p>\n

\u201cAnother ATH in complete silence as the dog coin longers rejoice,\u201d they wrote about BNB, adding:<\/p>\n

\u201cImagine the smell when launchpads become a thing again and retail is back to turbo buying garbage on BSC. Are you actually fading the token that backs the biggest exchange & the most degenerate evm chain by far?\u201d<\/p><\/blockquote>\n

DOGE\/USD 1-week candle chart (Binance). Source: TradingView<\/em><\/figcaption><\/figure>\n

Analytics account Stockmoney Lizards meanwhile noted<\/a> uncanny similarities in DOGE price action and the relative strength index (RSI) still being repeated this year.<\/p>\n

“Dogecoin copies itself,” it summarized.<\/p>\n

DOGE\/USD annotated chart. Source: Stockmoney Lizards\/ Twitter<\/em><\/figcaption><\/figure>\n

The views and opinions expressed here are solely those of the author and do not necessarily reflect the views of Cointelegraph.com. Every investment and trading move involves risk, you should conduct your own research when making a decision.\n<\/p>\n<\/div>\n


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BNB\u00a0(formerly known as Binance Coin)\u00a0has hit new all-time highs against Bitcoin (BTC) as excitement grows over the cryptocurrency\u2019s future role on Twitter. BNB\/BTC 1-month candle chart (Binance). Source: TradingView BNB sets new record against BTC Data from Cointelegraph Markets Pro and TradingView confirms that BNB\/BTC briefly spiked above 0.15 BTC to a record 0.15267 BTC […]<\/p>\n","protected":false},"author":1,"featured_media":33685,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","enabled":false}}},"categories":[40],"tags":[1285,564,194,211,291,589,2279,261,3622,2583,1569],"class_list":["post-33684","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-market-analysis","tag-alltime","tag-bnb","tag-btc","tag-bulls","tag-doge","tag-elon","tag-fuels","tag-high","tag-jumps","tag-musks","tag-twitter"],"jetpack_publicize_connections":[],"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"http:\/\/egrowonline.com\/wp-content\/uploads\/2022\/10\/1200_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjItMTAvODYxMDhjNWYtZjkwZS00ZmMwLWE2OTEtOTRkYWQzOWZkNzg5LmpwZw.jpg","_links":{"self":[{"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/posts\/33684","targetHints":{"allow":["GET"]}}],"collection":[{"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"http:\/\/egrowonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=33684"}],"version-history":[{"count":1,"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/posts\/33684\/revisions"}],"predecessor-version":[{"id":33686,"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/posts\/33684\/revisions\/33686"}],"wp:featuredmedia":[{"embeddable":true,"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/media\/33685"}],"wp:attachment":[{"href":"http:\/\/egrowonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=33684"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/egrowonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=33684"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/egrowonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=33684"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}