🔴 $BNB TO SURPASS $1000 🔴
The recent burn of approximately 1.64 million BNB tokens, valued at $963 million, is part of Binance’s strategy to reduce the total supply and potentially boost the token’s value. Despite this significant burn, BNB is currently trading at $585 and has not yet seen a substantial price increase. On-chain data shows a rise in social dominance and volume, indicating growing interest and activity.
BNB faces resistance levels at $588, $664, and $677, with the Moving Average Convergence Divergence (MACD) suggesting strong price momentum. While the token burn reduces supply and can create upward pressure on the price, reaching $1,000 would require significant market catalysts and sustained bullish sentiment.
