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After forming a base above the $470 level, BNB price started a fresh increase like Ethereum and Bitcoin. The price was able to climb above the $488 and $500 resistance levels.

It even cleared the $515 level and tested $525. A high was formed at $526 and the price started a downside correction. There was a move below the $520 level. The price slipped just below the 23.6% Fib retracement level of the upward move from the $471 swing low to the $526 high.

Besides, there was a break below a key bullish trend line with support at $517 on the hourly chart of the BNB/USD pair. The pair is now trading above $510 and the 100-hourly simple moving average.

If there is a fresh increase, the price could face resistance near the $518 level. The next resistance sits near the $525 level. A clear move above the $525 zone could send the price higher. In the stated case, BNB price could test $535.

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Over the weekend, Tesla CEO Elon Musk captured the attention of the Dogecoin community with a tweet indirectly alluding to Dogecoin. Musk tweeted, "Department of Government Efficiency," which can be conveniently abbreviated to "DOGE." This tweet was quickly spotted by the Dogecoin community.

Dogecoin's graphic designer, known as "Dogedesigner" on X, seized the moment to create a meme referencing Musk's tweet. An image that bore a photoshopped meme of Musk from the movie "The Lion King," which shows Musk as Rafiki, the old baboon holding up Simba, which symbolizes Dogecoin here, alongside the acronym DOGE, was shared by the Dogecoin designer.

The meme cleverly played on the idea of Musk's tweet about the "Department of Government Efficiency," being abbreviated to DOGE, and the broader Dogecoin community's lighthearted approach to the tweet.

In 2021, Musk initially shared this meme, with "The Lion King" as its theme, something the "Dogedesigner" brought back to life.

The meme from the Dogecoin designer quickly caught Musk’s attention, prompting a playful response from the billionaire. Musk responded, saying, "Naturally, our official mascot will be the Doge," reinforcing his connection to the famed Shiba Inu dog that embodies Dogecoin.

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Smart Whale tracker Lookonchain has reported that a short while ago, Galaxy Digital transferred a hefty amount of Bitcoin to the Coinbase Prime exchange.

This investment fund focused on cryptocurrencies is spearheaded by the renowned Bitcoin bull and former Goldman Sachs partner Mike Novogratz.

Those were four massive transfers that carried a total of 1,652 BTC worth $89,928,189.

The cryptocurrency community was set abuzz by the news of this transfer to Coinbase Prime as multiple crypto enthusiasts left comments under the tweet, expressing their deep concern over this sale by Novogratz’s company.

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