BillyMarkus,thefounderofDogecoin,alsoknownasShibetoshiNakamoto,isintheheadlinesafterstatingthathesoldallhisBabyNeirotokensinexchangeforBNB,Binance’snativetoken.
Markus,whofamouslysoldallhisDogecoinstobuyacarfor$10,000in2015,whichisnowworthover$90m,remainsafrequenttraderorrecipientoftokens.GivenBNB’spoormarketperformance,itislesssurprisingthathislatestforayhassparkedcontroversy.
ShibetoshiNakamoto(@BillyM2k),co-creatorof$DOGE,soldallhis$DOGEfor$10,000in2015tobuyacar,whichisnowworthover$9M(over$45Matpeak)!
Hecreatedmanynewwalletstoaccepttipsandhasearned~$780Kbysellingtokensreceivedforfreethisyear.
3daysago,…pic.twitter.com/AJlbro2SGg
—Lookonchain(@lookonchain)October20,2024
BillyMarkusdecidedtosellBabyNeirotokens,whicharen’ttoopopular,inexchangefor12.2tokensofBNB,estimatedtobe$7,243.Notably,Markushasaccumulatedcryptocurrenciesastipsindifferentwallets.
Lookonchainspecifiedhisearningsfromsellingfreetokenshereceived,tobeawhopping$780Kjustthisyear.Thishasraisedeyebrowsamongtradersandinvestors.
Earlieron,Markus’activitiesinthemarketweremovingindicatorsfortherestofthecommunity.HischoicetosellhisDogecoinsfor$10,000in2015wasquestionedwidely,andhissalebecameameme.Hadheheldontohisinvestments,thevaluewouldhavebeenover$9million.
Fastforwardtotoday.MarkushasdecidedtoexchangehiscryptogainsforBNBagainasthetokenperformancelooksmixedonthechart.
BNBPricesStrugglingtoPostGains
BinanceCoin(BNB)isvaluedat$596.77andisdownbyapproximately0.12%withinthelast24hours.Thecryptocurrencyhasdecreasedrecentlyandstabilizedbetween$600and$700.BNBtradesatamarketcapof$86.92billion-0.30%downfromtoday’ssameperiod.
Thedailytradingvolumehasdeclinedbyalargemarginto7.40%toavalueof$1.45billioninthelast24hours,withanaveragevolume-to-marketcapratioof1.67%.Nonetheless,notasingledayhasgonebywithouttheemergenceofnewrecords.
BNBremainsdominantintheoverallcryptomarketandisfourthinmarketcapitalizationamongallexistingcryptocurrencies.Thefundamentalsofthistokenarestillstrong,asitssupplycirculationisat145.66million.
Thisisitstotalsupply,meaningthereisnosupplyinflationpressureontheasset.Whenzoominginonthetechnicalaspect,abullishpennantisseeninthestructureoftheBNB,whichisacontinuationpatternwithabullishbreakoutafteraseriesofbullishtrends.
Thepricerangesbetween$590and$600.Nevertheless,abreakoutabovetheuppertrendlineofthepennantmeansthatthebullishmovewillcontinueandmayreachsubsequentresistances,whichcouldbearound$610orhigher.
TheMACDsignalatthebaseindicatesthattheblueMACDlinehasaslightlybullishsignalabovetheorangesignalline.
Thehistogramisslightlyabovezero,whichmeansthatwhilethebullishsignalisrelativelyweak,thereispotentialtoenhanceitsstrengthifonlyabreakouthappens.AnothercrossoverwheretheMACDlineisagainmoredistantfromtheMACDsignallinemayaswellreaffirma‘buy’signal.
thecoinrepublic.com