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Banana Gun

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<p class="is-style-lead">Banana Gun, the popular crypto trading bot, surged to its highest point in almost two months as the volume in its ecosystem rose.</p> 
<h2 class="wp-block-heading" id="futures-open-interest-surges">Futures open interest surges&nbsp;</h2> 
<p>Banana Gun (<a rel="" href="https://crypto.news/price/banana-gun/">BANANA</a>) token rose for two consecutive days, reaching an intraday high of $55, up 68% from its lowest level in September.</p> 
<p>This rally occurred in a high-volume environment, with most of the action happening on Binance, the largest exchange in the industry. Its 24-hour volume increased by 87% to $56 million.</p> 
<p>More data shows that Banana Gun’s open interest in the futures market continued rising, reaching a record high of $30 million. That was a big increase since its futures open interest bottomed at $13 million in September.</p> 
<p> You might also like: <a rel="" href="https://crypto.news/scrolls-scr-futures-sink-ahead-of-much-anticipated-airdrop/"> Scroll’s SCR futures sink ahead of much-anticipated airdrop </a> </p> 
<p>The rally is likely due to the platform seeing strong volume. In an X post on Monday, the developers noted that the network had over $137 million in volume last week. It recorded an impressive $23 million in volume on Sunday, indicating that its ecosystem is booming.</p> 
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   <p lang="en" dir="ltr">Banana Gun had a great week, reaching a total volume of $137M, driven largely by Ethereum ($106M).<br><br>Sunday is historically a low volume day (as is the entire weekend), but yesterday an impressive $23M volume was traded through Banana Gun.<br><br>Today has started strong with $7M too.… <a rel="nofollow" href="https://t.co/qAQ6XgYUjM" target="_blank">pic.twitter.com/qAQ6XgYUjM</a></p>— Banana Gun 🍌🔫 (@BananaGunBot) <a href="https://twitter.com/BananaGunBot/status/1843239812595073096?ref_src=twsrc%5Etfw" target="_blank" rel="nofollow">October 7, 2024</a>
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<p>Banana Gun has become one of the biggest <a href="https://crypto.news/telegram-trading-bot-banana-gun-exceeds-daily-volume-of-16m/" target="_blank">Telegram bot</a> in the crypto industry, handling over $6.7 billion in volume, according to its website. Most of this trading happens on its Ethereum (<a href="https://crypto.news/price/ethereum/" target="_blank">ETH</a>) ecosystem, followed by Solana (<a rel="" href="https://crypto.news/price/solana/">SOL</a>), Blast, and Base.&nbsp;</p> 
<p><a href="https://dune.com/whale_hunter/banana-gun-bot" target="_blank" rel="nofollow">Data by Dune</a> shows that Banana Gun has had over 294,000 lifetime users who have executed 11 million trades. Another data <a href="https://dappradar.com/dapp/banana-gun?range-ds=30d" target="_blank" rel="nofollow">by DappRadar</a> shows that the number of unique active wallets rose by 22% in the last 30 days, while volume jumped by 72% to $584 million.</p> 
<h2 class="wp-block-heading" id="banana-gun-price-is-soaring">Banana Gun price is soaring</h2> 
<figure class="wp-block-image size-full">
 <img loading="lazy" decoding="async" width="3574" height="1982" src="https://crypto.news/app/uploads/2024/10/Banana-Gun-Price.png" alt="Banana Gun" class="wp-image-14303144">
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  Banana Gun chart by <a href="https://www.tradingview.com/symbols/BANANAUSDT/?exchange=BINANCE" target="_blank" rel="nofollow">TradingView</a>
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<p>The 4-hour chart shows that the Banana Gun token has been in a strong bull run over the past few days. It flipped the important resistance point at $52.15 on Friday, marking its highest point on Oct. 8.</p> 
<p>The token has also remained above the 50-period and 25-period moving averages. Additionally, oscillators like the Money Flow Index and the MACD have pointed upwards.</p> 
<p>Therefore, the token will likely continue rising as bulls target the all-time high of $63.45, which is about 12% above the current level.</p> 
<p> You might also like: <a rel="" href="https://crypto.news/banana-gun-token-ignores-crypto-sell-off-spikes-110/"> Banana Gun token ignores the crypto sell-off, spikes 110% </a> </p>

Banana Gun goes parabolic as futures open interest hits all-time high

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