Binance Delisting Chaos: ALPACA Token Crashes 50% After Suspicious 650% Pump

The ALPACA token witnessed extreme volatility following its delisting from Binance, plunging 50% after an unusual 650% surge. This article delves into the chaotic price action and the factors behind the dramatic swing.

ALPACA Token Plunges 50% After Suspicious 650% Pump and Binance Delisting Fallout

ALPACA token experienced a violent 50% price collapse to $0.50 within hours of a bizarre 650% surge, showcasing extreme volatility surrounding Binance delistings. The whipsaw action saw partial recovery to $0.70 as traders digested the implications of frozen token issuance and forced short covering.

Market observers attributed the initial parabolic move to a perfect storm of technical factors. Alpaca Finance’s decision to halt new token issuance coincided with Binance’s delisting announcement, creating artificial scarcity that triggered a short squeeze. "Our market Maker had requested more ALPACA from warchest to support today’s high," the team noted in a since-deleted statement that hinted at liquidity constraints.

The episode underscores the fragility of low-cap altcoins during exchange listing changes. Binance’s dominance as a liquidity hub means delistings frequently precipitate violent repricings, though ALPACA’s 650% dead cat bounce before the collapse marks an unusually extreme case of market structure failure.

BNB Breaks Bullish Pennant on 4-Hour Chart, Signals Uptrend Ahead

Binance Coin (BNB) surged past a critical technical threshold on April 29, breaking out of a bullish pennant formation NEAR $605. The 4-hour chart pattern suggests a potential continuation of upward momentum, with analysts eyeing targets between $930 and $1,000 if the token maintains support above $620.

Crypto analyst Batman described the breakout as "a beauty," noting the pennant’s formation since April 24 following a sharp price rise. Key resistance levels now stand at $606, $610, and $620, while $592 and $580 mark crucial support zones.