Here is an analysis of my favourite coin Binance Coin ($BNB)!

Binance Coin ($BNB) has come a long way since its early days on the Ethereum network, later transitioned to its own blockchain and now consistently ranks among the top 2 cryptos.

Recently, Changpeng Zhao (CZ), the founder and former CEO of Binance, has been actively promoting Binance and the Binance Smart Chain (BSC).

One of the key drivers of $BNB’s recent push is the launch of a platform for creating memecoins, which has significantly boosted attention towards $BNB.

Since memecoins on BSC are primarily purchased using $BNB, the growing interest in these tokens has driven demand and positively impacted $BNB’s price.

As a result, $BNB has been one of the few cryptos showing positive movement, despite the overall market trend.

Looking ahead, a short-term pullback to around $620 (Fibonacci area of interest) is expected, followed by a likely continuation of its upward trend.

Will $BNB cross 1000$ by year end? Leave your comments below.