MUBARAK Meme Coin Skyrockets! BNB Chain Surpasses Solana—Is $720 Next for BNB?

Jakarta, Pintu News – Binance Coin BNB0.96%->Current BNB PriceRp 10.172.1310.96%Market Cap-Trading Volume-Circulating Supply- is experiencing a significant surge after trading volume on BNB Chain overtook Solana in decentralized exchange (DEX) activity.

Buoyed by booming meme coins like Mubarak (MUBARAK), BNB prices surged more than 6.2% in a single day (17/3/25), approaching an all-time high of $720. Is this a sign of a big rally for BNB?

BNB surges 6.2% and aims for a record high

As of March 17, 2025, BNB’s price was trading at $637 (IDR 10.43 million) with daily trading volume jumping 21% to $1.75 billion (ID R28.66 trillion). This surge came after BNB managed to break out of the bearish pattern that held it back in recent months.

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According to CoinGlass data, open interest for BNB futures also rose 10.72% to $875 million (IDR14.32 trillion), indicating strong bullish sentiment among traders.

According to crypto analyst Pro Crypto Signals, the price of Binance Coin (BNB) has broken out of a descending channel pattern on a 4-hour timeframe (17/3).

“If BNB maintains its position above the channel structure, it could rally towards $720 in the coming days,” the analyst said.

However, for a strong rally in the future, the BNB price needs to break the crucial resistance at $630 (IDR 10.31 million). This would set the stage for a major rally to a new all-time high of $720, and beyond.

BNB Chain Beats Solana in DEX Trading Volume

According to data shared by LookOnChain, daily trading volume on BNB Chain reached $1.637 billion (IDR 26.85 trillion), beating Solana for the first time.

This increase was driven by the popularity of memecoins such as Mubarak (MUBARAK) and TaTaTu (TTU), which saw a 13% rise in trading volume in the past week.

In contrast, Solana saw a 28% drop in volume, Ethereum ETH2.38%->Current ETH PriceRp 30.628.9622.38%Market CapRp 7.444 TriliunTrading VolumeRp 594,65 TriliunCirculating SupplyRp 120.452.072 fell 12%, and Base plummeted 35%. These declines were compounded by the LIBRA scandal, which shook Solana’s memecoin ecosystem and caused investor confidence to plummet.

As a result, many traders have switched to BNB Chain, accelerating its dominance in DEX trading.

Coin Mubarak meme explodes 71%, BNB goes up?

The Mubarak meme coin (MUBARAK) was one of the main triggers for BNB Chain’s surge. On March 17, 2025, the price of MUBARAK skyrocketed 71% after reports surfaced that Binance founder Changpeng Zhao (CZ) bought $600 worth of tokens.

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On Monday (17/3), MUBARAK was trading at $0.1304 (IDR 2,135) with daily trading volume reaching $123 million (IDR 2 trillion). Some traders have made huge profits from this rally.

According to Lookonchain, one investor managed to pocket $521,000 (IDR 8.53 billion) just from investing in MUBARAK. This surge in memecoins further strengthens BNB Chain’s position in the DeFi and DEX sectors.

How will this affect the BNB price?

BinanceCoin is known for its silent yet powerful movements, maintaining a consistent rally without much spotlight. Its price has risen above $630 after bouncing back from a low of around $500.

According to Coinpedia (3/17/25), with this development, the token is expected to break out of the bearish pattern, which could push the BNB price towards new highs.

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As seen in the chart above, BNB prices briefly broke out of the bullish pattern but remained within the descending parallel channel. In addition, the 50-day and 200-day moving averages (MAs) experienced a bearish crossover, which is likely to reverse soon.

With this quick reversal, the price is expected to break the resistance of the descending channel and return inside the ascending parallel channel that it has maintained since August 2024.

Meanwhile, the RSI indicator continues to rise, indicating that a continuation of the bullish trend for BinanceCoin (BNB) prices this week could be imminent.

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*Disclaimer

This content aims to enrich readers’ information. Pintu collects this information from various relevant sources and is not influenced by outside parties. Note that an asset’s past performance does not determine its projected future performance. Crypto trading activities have high risk and volatility, always do your own research and use cold cash before investing. All activities of buying and selling bitcoin and other crypto asset investments are the responsibility of the reader.

Reference:

• CCN. BNB Chain Overtakes Solana in DEX Volume Amid Memecoin Frenzy. Accessed March 18, 2025.
• Coingape. BNB Price Can Hit Fresh ATH as Mubarak Leads Meme Coin Frenzy. Accessed March 18, 2025.
• Coinpedia. BSC DEX Volume Surpasses Solana – Will This Benefit BNB Price to Reach $700? Accessed March 18, 2025.