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BNB Falls 2% as Memecoin Trades Unwind Despite 'Hard to Ignore' Rally

BNB's price dropped 2% in the last 24 hours, settling at $1,270, despite a record-setting day for BNB Chain with 5 trillion gas used, mainly from 24 million swap transactions. This decline followed a significant 45% rise over the past month, positioning BNB as the third-largest cryptocurrency by market cap. The selloff saw BNB fall to $1,255 but was met with robust buying in the $1,255-$1,280 range, indicating potential institutional accumulation. Even with a slight recovery, BNB faced barriers in reclaiming critical resistance above $1,320. Market experts emphasize that the vibrant community engagement is driving participation and growth in the BNB ecosystem, signaling that, despite recent fluctuations, community dynamics remain vital in the digital asset space.

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