BNB Surges 15% on IDO Frenzy, CZ's Memecoin Tease

BNB (BNB) price has surged by approximately 15% in the last 24 hours, reaching $724.70 on Feb. 13, outperforming the broader cryptocurrency market. Several key catalysts have driven BNB prices higher today, including the MyShell IDO launch on Binance Wallet, the new BNB Chain Roadmap for 2025, Binance co-founder Changpeng Zhao's (CZ) tease of memecoin launches on BNB Chain, and a classic technical indicator highlighting $970 as the upside target. Let's examine these bullish catalysts in detail.

The MyShell IDO launch on Binance Wallet sparked a BNB buying frenzy. The IDO launched at 10:00 am Beijing time on Feb. 13 and concluded at 10:00 pm, marking a record-breaking oversubscription. MyShell aimed to raise 1,270 BNB, pricing each SHELL token at 0.00003175 BNB, setting the project's initial valuation at $20 million. However, the IDO saw a massive 27,959 BNB in total subscriptions—more than 20 times the initial target. The overwhelming demand for SHELL tokens coincided with BNB price gains. Binance partnered with PancakeSwap decentralized exchange to launch MyShell IDO, boosting CAKE price by around 50% in one day. Many BNB Chain-based tokens surged in the same period, further indicating a growing underlying demand for BNB.

BNB's price boom closely follows Binance co-founder and former CEO Changpeng Zhao's (CZ) interest in launching a memecoin on the BNB Chain. On Feb. 12, 2025, CZ engaged in a conversation on X (Twitter) that accidentally triggered memecoin speculation. He mentioned that he owns a Belgian Malinois dog, prompting community members to ask for its name and photo—likely to create a dog-themed memecoin. CZ expressed curiosity about the process of determining an "official" memecoin and asked how such projects gain legitimacy. Binance has focused on memecoin launches in its 2025 roadmap, released on Feb. 11. BNB's price has increased by over 17%