My lovely people from the crypto-universe! Today I bring you some hot gossip about a token that is making waves, the famous Build On BNB (BOB). Do you remember it was rising like foam? Well, boom! Suddenly it took a dive and fell almost 15% in the last 24 hours. A serious thing! 😱

Why did BOB crash? Here’s the express summary! 💨

The thing is that BOB was on a brutal streak, rising 239.6% between June 2 and June 4, reaching $0.07624! And what happened afterward? Well, on June 5, Binance Futures listed it with a perpetual contract and a leverage of 50x! 🤯 This, in the crypto world, is what we call a 'sell on the news' effect. That is, when something is announced with great fanfare, people who have already made money sell to secure their profits. And with the ease of copying operations from other traders, the selling multiplied! 💰

What do the numbers say? The truth, the harsh truth! 📊

Experts who read the charts are raising their eyebrows because technical indicators do not lie:

  • MACD: It is in red, showing a bearish crossover. This is like an alarm signal indicating that the trend could continue downward.

  • RSI-7: It is around 42.39, close to the oversold zone. This means that many people are selling, and sometimes, when an asset is very oversold, there might be a rebound, but for now, the pressure is selling.

  • Supports and Resistances: The price of BOB broke an important support level ($1.09E-7) and is now testing another close to the 78.6% Fibonacci retracement ($3.36E-8). This is like when a car loses a brake and is looking for where to lean! 📉

The market speaks: Less buyers and whales dominating! 🐋

The trading volume of BOB in 24 hours fell by 27.52%, reaching $8.19 million. What does this mean? That buying pressure has decreased, people are not so enthusiastic about buying. And although the crypto market in general only dropped a little (0.52%), the strong fall of BOB reminds us that these meme-type tokens are super volatile.

Moreover, there’s a key piece of information that makes us think: 71.64% of the BOB supply is in the hands of just the top 10 wallets! 😲 That’s a lot of concentration. When so few have so much, a move from those 'whales' can shake the price. It’s like the fate of BOB is in the hands of a few giants.

And now what? The million-dollar question! 🤔

The fall of BOB is the daily bread after listings on large exchanges and with the excitement of derivatives. Technical indicators tell us that a short-term consolidation might be coming, meaning that the price will stay in a back-and-forth motion without big movements.

But the big question is: Will the people who have a lot of money stop selling so that the price stabilizes? Or will the fact that BOB has no real utility leave it exposed to the price continuing to dance to the tune of speculation? So, let's be alert.

Be careful, my dear traders, because this token has us with our hearts in our hands! ❤️‍🔥