Binance Coin Price Prediction as $2 Million Whale Cash Out Sends BNB into Uncertainty

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A BNB whale dormant for 2 years dumped $2 million worth of BNB tokens following the persistent US SEC activities against Binance.

This sale came as the Binance Coin (BNB) was tagged as a security by the Securities and Exchange Commission (SEC) last week while suing Binance, Binance.US, and their founder, Changpeng Zhao. According to SEC, the bodies mentioned above allegedly broke securities laws.

These events have pushed the Binance Coin (BNB) into uncertainty, dramatically dropping prices. In the last seven days (June 14), the Binance Coin, BNB, dropped by 2.58%.

Today, June 20, 2023, BNB is trading at $240.81, down by 0.78% at the time of writing. Despite the cloud of uncertainty around the token, there could be potential price gains for BNB in the nearest future.

At the time of writing, its 24-hours trading volume has increased 12.84%. If the volume is maintained, BNB’s price could push further, fostering more liquidity in the market.

Nevertheless, BNB’s price analysis and prediction could hint at what to expect in the short and long-term trades of the coin.

BNB Price Outlook in the Short and Long-Term

Binance Coin, BNB plunged drastically in 16 days (June 5 to June 20). From the $300 level it recorded on June 5, BNB has dropped to $240.71 today, June 20.

According to the daily chart on TradingView, BNB is prone to more red trades than green, as depicted on several indicators.

The Moving Average Convergence/Divergence (MACD) indicator is slightly above the signal line, suggesting potential price rallies today. As such, BNB could face new prices while trading red on the chart before the day ends.

In contrast, BNB trades below its 50-Day and 200-Day Simple Moving Average (SMA), a short and long-term bearish signal. Crypto is likely to face a prolonged price dip.

Also, considering the recent death cross on the chart as of June 17, BNB could consolidate on its current price, stagnating within the $240 level for a longer period. Moreover, BNB’s Relative Strength Index (RSI) is at 31.17, a neutral market position for the crypto.

However, the RSI’s downward movement indicates increased BUY trades for BNB, which could send it to the oversold zone (below 30). If that happens, BNB will shed more of its price in the long run.

Experts’ Price Prediction for Binance Coin 2023 to 2030

While the Binance Coin faces dramatic price movement in the crypto market, several crypto experts have predicted its potential price actions for 2023 and beyond.

BNB Price Prediction by Coinpedia

Coinpedia predicts BNB to reach a maximum price of $465.85, an average of $375.50, and a minimum of $285.16 by the end of 2023.

If regulatory crackdowns reduce by 2024, the crypto would aim for a maximum price of $734.27, an average of $577.50, and a minimum price of $420.73. Coinpedia expects BNB to reach a maximum of $1097.61, an average of $891.71, and a minimum of $685.42 by 2025.

In the next 5 years (2026 to 2030), the coin will record maximum prices of $1313.25, $1599.87, $1821.54, $2160.37, and $2657.35, respectively.

The average prices in these years will be $1145.69, $1433.25, $1713.94, $2028, and $2471.32, respectively, while minimum prices will be $978.13, $1266.63, $1606.35, $1895.63, and $2285.30.

BNB Price Prediction by Changelly

According to Changelly, BNB is expected to have a minimum, an average, and a maximum price of $294.37, $306.60, and $333.42, respectively, by the end of 2023.

The crypto is expected to perform well throughout 2024, and by 2025, it should have at least a minimum of $683.85, an average of $706.34, and a maximum of $758.97. By 2026, BNB is expected to reach $1208.06 (maximum), $1066.88 (average), and $1031.57 (minimum).

Changelly tips at BNB taking a bullish run from 2027 to 2029, thus, recording a maximum price of $5726.91, an average of $5088.06, and a minimum of $4950.66.

While these predictions are to hint at what to expect from Binance Coin (BNB) in the future, proper risk management strategies and technical analysis must be in place before investment.

Factors Affecting the Price of Binance Coin

Since cryptocurrencies are subject to macroeconomic activities, investors’ sentiment, regulatory crackdowns, and many other factors, it’s clear that the recent SEC lawsuits against crypto firms, Binance and Coinbase, are currently impacting BNB’s price.

Notwithstanding, some recent news and developments in the Binance ecosystem could also positively impact BNB’s price.

Testnet for Optimism-based BNB Layer 2 Unveiled

Binance-powered BNB Chain has revealed opBNB, the latest L2 test net aiming at addressing the pressing challenges of scalability slowing the adoption rate of blockchain.

The Optimism-based L2 network provides promising solutions, focusing on increasing transaction speed, lowering costs, and enhancing network security.

According to BNB Chain on June 19, opBNB will represent a concrete commitment to guarantee an all-in-one, efficient experience for developers, users, and projects in the BNB Smart Chain ecosystem.

opBNB is compatible with the Ethereum Virtual Machine (EVM), using the Optimism OP Stack to boost cost-effectiveness in the chain.

opBNB’s launch invites projects and developers to build, contribute, and experiment on the BSC ecosystem to foster the future of blockchain and make way for potential blockchain innovations.

Considering the impact of ecosystem-related developments on cryptocurrencies, this opBNB chain could provide a stepping stone for the price of Binance Coin (BNB) if it works as expected.

Binance Coin Alternative

While many cryptocurrencies plummet, some altcoins, like Wall Street Memes and many others, are progressing dramatically, creating high-potential investment options for investors.

Wall Street Memes (WSM)

Wall Street Memes is a meme project in the crypto space, born out of excitement to express internet victory on rampant capitalism.

The project celebrates the bravery of a young man who challenged Wall Street in a notorious GameStop fiasco in 2021. The project aims to connect with a notorious community movement called WallStreetBets that started on the Reddit platform in 2021.

The project team behind Wall Street Memes has been taken as creators of potential projects by crypto enthusiasts ever since they made $2.5 million within 32 minutes in 2021. This incident occurred when their Wall Street Bulls NFT collection piece of 10,000 NFTs was sold out instantly.

The project team took advantage of its fame and possible connection with the WallStreetBets movement to tokenize the notorious movement by creating a meme token, $WSM.

Wall Street Memes Presale Performance

The project has gained dramatic records and attained milestones quickly since the $WSM presale commenced.

The presale started on May 25, 2023, and within 24 hours, it raised a whopping sum of $100,000 as investors who did not want to miss this opportunity rushed to invest in the project.

On May 30, 2023, the $WSM crossed $1.3 million in its presale. By June 15, it hit over $7.2 million, after which it attained a milestone of over $7.8 million in less than a day, selling at $0.0292.

Notably, today, June 20, 2023, $WSM has raised $8,890,873, close to its $9.9 million target. The presale will likely end in 2 days. Meanwhile, its success so far indicates a possible price surge when it is listed on crypto exchanges in the future.

Smog (SMOG) - Meme Coin With Rewards

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