●▪︎ Binance listing sparks a rally for PLUME token
Binance announced on August 18 that it will distribute 150 million PLUME tokens, equivalent to 1.5% of the total supply, to users who subscribed to BNB (BNB) through the Simple Earn and On-Chain Yields platforms between July 24 and 27. The platform stated that rewards would be distributed before the immediate listing of the token, which will open later on the listing day on August 18.
You may also be interested in: Plume's integration of AUSD to unlock decentralized financing through RWAfi
This incentive led to an immediate rush to buy, as trading activity and futures surpassed the weekly average for the token in just a few hours. After listing, Binance will allocate 25 million PLUME tokens for marketing and liquidity initiatives. This listing comes just two months after Plume launched its mainnet. The rise in PLUME's price comes at a time when Binance is actively expanding its HODLer Airdrop initiative, which recently included smaller tokens like LISTA and ETHFI. The program has become a major liquidity driver for early-stage assets, often leading to rapid spikes in trading volume post-listing.
●▪︎ Technical analysis of PLUME
The impact of the listing news is reflected on the price chart. After trading in a narrow range between $0.09 and $0.11 the previous week, PLUME's price sharply rose, breaking through the middle Bollinger range. The price is gaining momentum towards its recent highs near $0.1103.
Additionally, the relative strength index has risen, surpassing the 60 level, indicating strong buying pressure but allowing some space before reaching overbought levels.
If the token breaks the resistance level at $0.11, short-term momentum could push it towards the $0.12 range. Support will be around $0.095 if current levels are not maintained, and a deeper pullback towards $0.089 could also occur if sentiment weakens.