Price Analysis

BNB Price Analysis: Binance Social Media Mentions Hit 8-Month Peak as Changpeng Zhao Denounces TST Memecoin

BNB price surged 13% as social media mentions peaked following CZ’s response to TST memecoin rumors, more gains ahead?
Published by
BNB Price Analysis: Binance Social Media Mentions Hit 8-Month Peak as Changpeng Zhao Denounces TST Memecoin

Highlights

  • Binance Coin (BNB) price rose 13% over the weekend, reaching as high as $635 on February 9.
  • Social media mentions of BNB hit a two-month peak as markets reacted to a rumored memecoin launch by Binance Co-Founder Changpeng Zhao.
  • Despite CZ’s denial of the rumors, trading indicators show bullish traders capitalized on the media traction.

Binance Coin (BNB) price rose 13% over the weekend, trading as high as $635 on Feb 9 as markets reacted to a rumored memecoin launch by Binance Co-Founder Changpeng Zhao.

Advertisement

BNB Price Scores 13% Weekend Rally Amid CZ Memetoken Rumors

Binance Coin (BNB) emerged as one of the top-performing crypto assets over the weekend, fueled by speculation surrounding a rumored memecoin, TST, supposedly linked to Binance Co-Founder Changpeng Zhao. The rally coincided with widespread social media discussions about the potential impact of TST on the Binance ecosystem.

TST, a newly emerging memecoin within the BNB Chain, caught investor attention, primarily due to its alleged association with CZ. However, on February 8, Zhao took to X (formerly Twitter) to clarify his stance and refute any links to the project.

In his statement, Zhao explicitly denounced any connection to TST, addressing community concerns over the unauthorized use of Binance’s logo by the memecoin project.

“Neither the website nor the X account associated with TST was created by the BNB Chain team. Neither Binance staff nor the crypto exchange has any control over this memecoin. It appears to be an independent community initiative.”

He further emphasized that he had never bought, owned, or supported the project and urged investors to exercise caution.

Binance Coin (BNB) Price Action

Despite his clear disclaimer, the TST controversy drove heightened engagement within the BNB ecosystem, influencing market sentiment and triggering a price rally. BNB price surged from $569 on Friday to a peak of $648 on Sunday, marking a significant 13% increase within the daily timeframe.

Advertisement

TST Memecoin Speculation Drives Binance Coin (BNB) Social Media Mentions to 8-Month Peak

At press time, BNB continues to trade above the $630 level, indicating that bullish momentum remains strong. Data from Santiment’s Social Dominance metric shows that BNB-related mentions spiked to 1.5% on February 9, meaning nearly two out of every 100 crypto-related comments on social media referenced BNB in the last 24 hours.

Binance Coin (BNB) Social Dominance vs. Price | Source: Santiment

This marks the highest level of social media engagement for BNB in over 8 months, dating back to June 2024.

Evidently, the TST memecoin rumors, coupled with CZ’s prompt response, have driven increased media attention and investor speculation, driving BNB’s price action to outperform major crypto assets such as Bitcoin (BTC), Ethereum (ETH), Ripple (XRP), and Solana (SOL) over the weekend.

As the new trading week begins, BNB’s 13% price rally could advance further if broader market sentiment remains positive, particularly as bearish pressures from the U.S.-China trade tensions begin to ease.

Advertisement

BNB Price Forecast: Bulls poised for $700 breakout signal

Heading into the new week, BNB price prediction charts currently lean bullish, fueled by a 13.8% rally over three days, accompanied by rising trading volumes. The increasing volume signals strong buyer interest, a crucial confirmation of trend continuation.

Additionally, BNB is trading above the VWAP ($625), indicating active buying pressure, as traders are bidding slightly higher than market prices to secure their orders faster. This suggests that momentum favors the bulls, with buyers outpacing sellers in the short term.

BNB Price Forecast

Another key factor is the price expansion beyond the midline of the Keltner Channel, showing a potential shift in volatility favoring the upside. If BNB sustains above $625 and reclaims $633.87, it could target the upper Keltner band around $707, aligning with a broader breakout scenario. However, a failure to hold current levels may trigger a retest of $560.65, where lower Keltner support converges with recent demand zones. Maintaining volume strength will be critical in confirming trend direction, with bulls aiming to extend gains while bears look for exhaustion signs.

Frequently Asked Questions

What caused the recent surge in BNB price?

BNB's price surged 13% over the weekend, driven by social media speculation surrounding the rumored TST memecoin and Changpeng Zhao's public response.

Did Changpeng Zhao create or endorse the TST memecoin?

No, CZ explicitly denied any involvement with TST, clarifying that neither he nor Binance staff control or support the memecoin.

How did social media activity impact BNB’s price?

BNB-related social media mentions hit a 60-day peak, fueling investor speculation and contributing to the bullish momentum in BNB spot markets.
Share
ibrahim

Crypto analyst covering derivatives markets, macro trends, technical analysis, and DeFi. His works feature in-depth market insights, price forecasts, and institutional-grade research on digital assets.

Published by
Why trust CoinGape: CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights to our readers. Our journalists and analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.
Investment disclaimer: The content reflects the author’s personal views and current market conditions. Please conduct your own research before investing in cryptocurrencies, as neither the author nor the publication is responsible for any financial losses.
Ad Disclosure: This site may feature sponsored content and affiliate links. All advertisements are clearly labeled, and ad partners have no influence over our editorial content.

Recent Posts

  • Price Analysis

Solana Price Prediction: Will Solana Hit $320 as SOL Strategies Gains Nasdaq Approval?

The Solana price has held steady, currently trading at around $202 at press time. Recent…

September 6, 2025
  • Price Analysis

XRP Price Forecast: Analyst Eyes $127 as BlackRock Joins Ripple Swell 2025

XRP price has stayed in the spotlight, pushing through mixed phases while holding steady above…

September 6, 2025
  • Price Analysis

Chainlink Price Eyes $55 as Reserve Holdings Jump With 43,937 LINK Addition

Chainlink price has been carving a path of resilience, supported by steady inflows and consistent…

September 6, 2025
  • Price Analysis

Cardano Price Targets 30% Surge as Top Economist Calls for Fed Cut

Cardano price is eying a 30% surge in the coming weeks after forming a highly…

September 5, 2025
  • Price Analysis

ETH Price Forecast as Grayscale’s Covered Call Ethereum ETF Spurs Optimism — Is $8,500 in Sight?

Ethereum ETF products have gained increased attention as the market observes new institutional entries. At…

September 5, 2025
  • Price Analysis

Bitcoin Price Prediction as SEC Unveils Agenda for Crypto Regulation — Is $200K Next?

Bitcoin price has continued to draw attention as the market reacts to fresh catalysts. At…

September 5, 2025