Kanye West's Tweet Boosts Binance Coin by $5 Billion

Binance Coin (BNB) price surged by 5% on February 22, following a conversation between billionaire music artist Kanye West and Binance founder Changpeng Zhao (CZ). The interaction sparked intense speculation about a potential collaboration, leading to a $5 billion capital inflow within hours.

BNB's price action on February 22 saw a rapid 6% recovery from the previous day's sell-off. Kanye West, known for his controversial online statements, took to social media to discuss cryptocurrency and hinted at launching a new blockchain project. He shared screenshots of private messages debating the possibility of creating a full blockchain rather than a meme coin, which sparked intense speculation in the crypto community.

Adding to the speculation, Kanye recently followed CZ on X (formerly Twitter), making him the only person Kanye follows. CZ responded humorously, posting: "DEX is so much harder to use…" which further fueled rumors of a collaboration between the two.

BNB's price forecast chart suggests strong upside momentum, consolidating above key technical levels. The 12-hour chart shows BNB trading at $669.5, gaining 3.41% on the session. The price is pressing against the upper Bollinger Band at $689.8, signaling increasing bullish pressure. A breakout above this level could propel BNB toward $700, particularly if discussions between Kanye and CZ spark more speculative demand.

To sustain its uptrend, BNB must establish firm support above $680. A failure to hold this level could invalidate the bullish outlook, leading to increased volatility. If sentiment remains positive, the path to $700 remains open.