Binance ecosystem tokens, Binance Coin (BNB) and Pancakeswap (CAKE), have recently surged in price, attracting a lot of attention. BNB broke through the $700 mark, up more than 15%, becoming the fifth largest cryptocurrency after BTC, ETH, XRP, and USDT.

BNB’s strong rise is reflected in the bullish candlestick chart over the past week, showing a strengthening bullish trend. Based on the trading volume and the pattern of investors accumulating tokens, BNB’s rise can be attributed to the following:

  1. Binance pauses in SEC dispute
    The suspension of the dispute provides Binance with more time to adjust its strategy, improve compliance, and enhance market confidence.

  2. Binance announces 2025 roadmap
    Binance’s future development plans focus on artificial intelligence and increasing transaction speeds, which will further enhance the appeal of its platform.

FLOKI: The next rising meme coin?

Despite the strong performance of BNB and CAKE, the price of FLOKI, another highly watched Binance ecosystem token, remains in a downward channel. Currently, FLOKI is hovering in a bearish descending triangle and is expected to break out of the apex of this pattern in the coming days. However, technical indicators suggest that FLOKI's upside potential is not strong in the short term.

FLOKI Technical Analysis

  • DMI (Directional Movement Index): Horizontally parallel, indicating a lack of clear buy or sell signals in the market.

  • ADX (Average Directional Index): has reached its upper limit, indicating that the market momentum is weakening and may face a correction.

  • OBV (accumulated trading volume indicator): continued to be under pressure and failed to break through the downward trend line, indicating that the trading volume failed to effectively support the price increase.

If the strong move of BNB fails to break through the resistance level of FLOKI, it may cause FLOKI to fall to $0.000085 in the coming period. If the bulls fight back, the price may rise back to $0.0001, but the risk of falling below $0.00007 in the short term remains.

The strong performance of BNB and CAKE has injected more vitality into the Binance ecosystem and attracted the attention of a large number of investors. Although FLOKI has potential, it may face more downward pressure in the short term, and the prospect of price rebound remains unclear. #市场清算 #XRP看涨还是看跌？ #zkLend加密盗窃事件 #加密市场反弹 #代币储备 $BNB $FLOKI $CAKE