Binance Coin Price Prediction: BNB Plummets 9% After CZ Is Jailed As Experts Say This DOGE 2.0 ICO Might Be The Best Crypto To Buy Now

The Binance Coin price plummeted more than 9% in the last 24 hours to trade at $539.01 as of 4:20 a.m. EST as investors dump their holdings in the utility token.

BNB’s sharp correction comes after Binance founder Changpeng Zhao, known by the nickname CZ, was sentenced to four months in prison for violating Anti-Money Laundering laws.

The Binance Coin Price Loses A Key Technical Support

4-hour chart for BNB/USDT (Source: TradingView)

The Binance Coin price lost the key support at $569.70 over the last 12 hours, and is currently testing the next crucial safety net at $549.50. Should it close a 4-hour candle underneath this price point, BNB could be at risk of dropping to as low as $533.40 in the short term.

This bearish thesis might be invalidated if the Binance Coin price rebounds off of the $549.50 support in the next 12 hours. Traders might identify this potential bounce as a long entry, which could introduce a wave of buy pressure into BNB’s charts.

In this more bullish scenario, the Binance Coin price could attempt to reclaim a position above $569.70. Overcoming this technical barrier might then lead to BNB flipping the $587.20 resistance level into support as well, before possibly rising to as high as $603.40 if the buying pressure persists.

The Binance Coin Price Is Still At The Mercy Of Sellers

Technical indicators on BNB’s 4-hour chart warn that sellers are not done exerting pressure on the Binance Coin price. Both the Moving Average Convergence Divergence (MACD) and Relative Strength Index (RSI) are flagging bearish.

Over the past 24 hours, the Binance Coin price attempted to escape its bearish trend. This is evident by the MACD line’s attempt to cross above the MACD Signal line yesterday. However, sellers prevented this from happening, leading to a rejection.

Traders then reacted negatively to this failed attempt, pushing BNB deeper into a negative cycle. This trend is likely to continue in the short term given the MACD line is currently breaking away below the MACD Signal line.

Sellers are also dominating buyers on BNB’s 4-hour chart, which is signaled by the RSI line’s positioning below its Simple Moving Average (SMA) line. What’s more, the RSI is also negatively sloped, which could be a sign that bears are growing stronger.

With BNB at risk of falling further in the next 24 hours, traders and investors are turning their attention to new meme coin sensation Dogeverse for potentially parabolic gains.

The First Meme Coin To Reside On Multiple Chains

Dogeverse (DOGEVERSE) is looking to overthrow older meme coins with its unprecedented amounts of utility. Being the first multi-chain meme coin, the dog-themed crypto enables a seamless transactional experience for its holders.

YouTuber Jacob Crypto Bury recently told his 38k subscribers that he is bullish on the meme coin. He also highlighted Dogeverse’s impressive ICO performance, with more than $12.8 million raised thus far.

In addition to being a promising speculative opportunity, DOGEVERSE investors are able to take part in a multitude of DeFi protocols on some of the most active and liquid blockchain networks.

Since the token was deployed on popular networks like Solana, Avalanche, Polygon, BNB Chain, Ethereum and Base, investors can easily start earning rewards offered outside of the Dogeverse ecosystem.

There is also a lucrative staking program being offered to investors who purchase and lock up the meme coin at this early stage. With an annual return of 87%, investors won’t even have to swap out their DOGEVERSE to gain access to a competitive staking opportunity.

A Top Contender

Apart from being a dog-themed crypto similar to the original Dogecoin, the project’s seamless transactional ability across multiple networks and its competitive staking program make DOGEVERSE a top contender.

#Cosmo ventures to a new world in the vast #Blockchain Universe! 🚀

This time landing on planet #Solana and expanding the horizons of the #DOGEVERSE even more! 🪐

Empowering users with benefits like:

⚡️ Lightning-Fast Transactions
💸 Low Transaction Costs
🌐 Scalability and… pic.twitter.com/BH4l5RjhIS

— DogeVerse (@The_DogeVerse) April 30, 2024

Investors have caught on to this, which is why the meme coin’s presale is fast-approaching the $13 million milestone.

Selling for just $0.000304, DOGEVERSE can be bought with several cryptos given its presence on multiple blockchains.

ETH, USDT, BNB, MATIC, AVAX, SOL and BASE can all be used to buy the crypto. There is also the option to use a bank card for anyone that wants to purchase the token using fiat.

Purchase and stake DOGEVERSE for 87% in annual staking rewards here.

Related Articles:

• Best Penny Crypto Investments: Top Picks for Explosive Growth in 2024!
• Bitcoin Minetrix Debuts On Uniswap, Unveils 10% Token Burn As $BTCMTX Price Poised To Skyrocket
• Pepe Price Prediction: PEPE Plummets 8% As Investors Flock To This Multi-Chain Dogecoin Derivative For Parabolic Gains