Token

Million

Banana Gun

Banana

The Banana Gun price dropped 4% in the last 24 hours but is still up 28% in a week <a href="https://www.geckoterminal.com/eth/pools/0x43de4318b6eb91a7cf37975dbb574396a7b5b5c6">to trade at $45.40</a> as of 03:57 a.m. EST on trading volume that climbed 8% to $128 million. 
This comes after the team burned 2% of the total supply, totaling about $8.6 million. The step reduces the supply, which then increases the demand for the asset. 
<blockquote class="twitter-tweet" data-width="550" data-dnt="true"> 
 "How was your day honey?" – "Good, burnt $8.6M worth of <a href="https://twitter.com/search?q=%24BANANA&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$BANANA</a>. 🍌🔥" 
 2% of total supply destroyed forever.<a href="https://t.co/uVVwWDanke">https://t.co/uVVwWDanke</a> <a href="https://t.co/O4hZehHRWQ">pic.twitter.com/O4hZehHRWQ</a> 
 — Banana Gun 🍌🔫 (@BananaGunBot) <a href="https://twitter.com/BananaGunBot/status/1823453934628786210?ref_src=twsrc%5Etfw">August 13, 2024</a>
</blockquote> 
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script> 
Can the burn allow the BANANA price to soar? 
<h2 id="b-banana-gun-price-to-continue-soaring-b">Banana Gun Price To Continue Soaring</h2> 
The <a href="https://insidebitcoins.com/news/top-trending-crypto-coins-on-dextools-world-record-banana-elf-wallet-sentre">Banana Gun</a> price has surged in the last three days, forming an ascending triangle pattern. According to <a href="https://www.geckoterminal.com/eth/pools/0x43de4318b6eb91a7cf37975dbb574396a7b5b5c6">GeckoTerminal</a> data, the BANANA price bulls struggle to push the price above the $48.56 resistance. 
BANANA price now trades well above both the 50 and 200 Simple Moving Averages (SMAs) on the hourly chart, which is a sign of a short-term uptrend. 
However, the Relative Strength Index (RSI) shows that the selling pressure is beginning to form around level 52, indicating that investors are preparing to sell. 
The Banana Gun price analysis shows a bearish bias, as the bulls aim to push the asset above the ascending triangle pattern. Moreover, the 50 SMA crossed above the 200 SMA, forming a golden cross at $36.54. If the bulls capitalize on these two factors, they could propel BANANA over the triangle by targeting $55. 
<figure id="attachment_565011" aria-describedby="caption-attachment-565011" style="width: 100%" class="wp-caption alignnone">
 <img decoding="async" class="size-full wp-image-565011" src="https://insidebitcoins.com/wp-content/uploads/2024/08/Uniswap-V2-_GeckoTerminal.com_BANANA_2024-08-15_10-57-57.png" alt="Banana Gun Price Chart Analysis Source: GeckoTerminal.com" width="1255" height="508" srcset="https://insidebitcoins.com/wp-content/uploads/2024/08/Uniswap-V2-_GeckoTerminal.com_BANANA_2024-08-15_10-57-57.png 1255w, https://insidebitcoins.com/wp-content/uploads/2024/08/Uniswap-V2-_GeckoTerminal.com_BANANA_2024-08-15_10-57-57-300x121.png 300w, https://insidebitcoins.com/wp-content/uploads/2024/08/Uniswap-V2-_GeckoTerminal.com_BANANA_2024-08-15_10-57-57-1024x414.png 1024w, https://insidebitcoins.com/wp-content/uploads/2024/08/Uniswap-V2-_GeckoTerminal.com_BANANA_2024-08-15_10-57-57-768x311.png 768w" sizes="(max-width: 1255px) 100vw, 1255px">
 <figcaption id="caption-attachment-565011" class="wp-caption-text">
 Banana Gun Price Chart Analysis Source: GeckoTerminal.com
 </figcaption>
</figure> 
However, the RSI shows some looming selling pressure. If this pressure intensifies, BANANA could retrace back to the $38 support zone (200 SMA). 
Meanwhile, investors are also buying a new play-to-earn (P2E) meme coin, <a href="https://insidebitcoins.com/visit/playdoge" rel="nofollow">PlayDoge ($PLAY)</a>, which aims to follow in the paw prints of its predecessor, DOGE. 
<h2 id="playdoge-presale-raises-over-6-million">PlayDoge Presale Raises Over $6 Million</h2> 
PlayDoge, a DOGE derivative, has continued to gain traction in the crypto community, raising over $6 million in presale as it rapidly approaches its target of $6.6 million. 
It’s a cutting-edge P2E mobile game that merges the nostalgic feel of 90s virtual pets, similar to Tamagotchis, with advanced blockchain technology. In addition to engaging gameplay, users can earn $PLAY tokens by interacting with their 2D Doge pet in the retro-style app. 
<blockquote class="twitter-tweet" data-width="550" data-dnt="true"> 
 Don’t ghost your <a href="https://twitter.com/hashtag/Doge?src=hash&amp;ref_src=twsrc%5Etfw">#Doge</a> or it’ll die 👻 
 Feed your Doge, earn rewards, and level up. No mazes, just fun!<a href="https://twitter.com/hashtag/Presale?src=hash&amp;ref_src=twsrc%5Etfw">#Presale</a> has launched! 🙌<a href="https://twitter.com/hashtag/PlayDoge?src=hash&amp;ref_src=twsrc%5Etfw">#PlayDoge</a> <a href="https://twitter.com/hashtag/P2E?src=hash&amp;ref_src=twsrc%5Etfw">#P2E</a> <a href="https://twitter.com/hashtag/Memecoin?src=hash&amp;ref_src=twsrc%5Etfw">#Memecoin</a> <a href="https://t.co/Fp2sFwycpj">pic.twitter.com/Fp2sFwycpj</a> 
 — PlayDoge (@PlayDogeGame) <a href="https://twitter.com/PlayDogeGame/status/1796577377746620905?ref_src=twsrc%5Etfw">May 31, 2024</a>
</blockquote> 
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script> 
Through the P2E mechanics, the project allows players to earn rewards by caring for their pet and taking it on adventures, earning $PLAY tokens in the process. 
Token holders can also earn from its lucrative staking system, which offers investors an impressive 76% annual percentage yield (APY). 
According to Jacob Bury, a prominent crypto analyst and YouTuber, PlayDoge could surge 10X after its launch. 
<iframe title="PlayDoge New 10X Potential Play to Earn MEME Utility Token (Best Crypto to Buy Now?!)" width="640" height="360" src="https://www.youtube.com/embed/GLvTFi4aMIg?feature=oembed" frameborder="0" allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share" referrerpolicy="strict-origin-when-cross-origin" allowfullscreen></iframe> 
You can buy $PLAY tokens for $0.00529 each. With a price hike coming a day, buy soon to lock in the best deal. 
<a href="https://insidebitcoins.com/visit/playdoge" rel="nofollow">Purchase $PLAY from the official website using BNB, USDT, or a bank card.</a> 
<h2 id="related-news">Related News</h2> 
<ul> 
 <li style="font-weight: 400"><a href="https://www.linkedin.com/pulse/best-crypto-buy-now-2024-top-picks-explosive-growth-calsona-6bnie">Best Crypto to Buy Now (2024): Top Picks for Explosive Growth! 🚀💸</a></li> 
 <li style="font-weight: 400"><a href="https://www.linkedin.com/pulse/next-crypto-explode-unveiling-potential-market-shaker-calsona-hmwze">Next Crypto to Explode: Unveiling the Potential Market Shaker of 2024 🚀💥</a></li> 
 <li style="font-weight: 400"><a href="https://insidebitcoins.com/buy-cryptocurrency/best-cheap-crypto/">Best Cheap Crypto to Buy Now In 2024 – Low Cost Coins</a></li> 
</ul>

Banana Gun Price Soars 28% In A Week After $8.6M Token Burn, But Experts Say This Might Be The Next Crypto To Explode

Table of Contents

Inside Bitcoins

Other articles published on Aug 15, 2024

Australian Securities and Investment Commission Challenges ASX Over Blockchain Failures

Marathon Digital buys $249m in Bitcoin after raising $300m from convertible notes

Binance Hit with $86M Tax Demand by Indian Authorities Over GST Registration

Daily Market Review: BTC, ETH, AAVE, FLR, GALA

Bitcoin Holders Tighten Grip Amid Market Volatility

What is Ore on Solana?

Join our free newsletter for daily crypto updates!