ALPACA spiked 2,300% after Binance delisting news — still up nearly 1,100% for the week #ALPACA
Despite news that Binance will delist the ALPACA token on May 2, Alpaca Finance stunned the cryptocurrency market with a dramatic 1,100% price rally over the past week.
On April 24, Binance announced plans to remove ALPACA and three other tokens from its platform following a routine asset review. The exchange cited low trading volumes and a lack of active development as key reasons for the delisting. Spot trading for ALPACA will end on May 2, with deposits and withdrawals phased out shortly after the announcement.
Typically, such news triggers a steep price decline, but ALPACA defied market expectations. After an initial dip, the token surged as much as 2,300%—from $0.029 to a peak of $1.47—before settling at around $0.53 at the time of writing. Although ALPACA is down 40% in the past 24 hours, it remains up over 1,100% for the week, according to CoinGecko.
Analysts attribute the explosive rally to a short squeeze. Following the delisting news, many traders bet against the token, anticipating a price collapse. However, as ALPACA unexpectedly gained momentum, short-sellers were forced to buy back tokens to cover their positions, further fueling the upward price spiral. .
