Banana for Scale (BANANAS31) Rallies Over 26% Amid Scam Allegations

Banana For Scale (BANABAS31) has seen a significant surge amid allegations of scam, with concerns that a single wallet controls the entire supply. The increase comes as the world’s largest crypto asset, bitcoin (BTC), reclaims its $112,000 price level. 

The BANABAS31 token spiked to over 26% in the last 24 hours, trading at $0.02536. However, the asset rallied to $31.73%, with its market capitalization rising from $155 million to $253 million.  

The rise in trading volume represents strong investor interest and confidence in the asset. Data from CoinGecko shows that the BANABAS31 token’s max supply is 10 billion.   

Scam Allegations Surface 

According to recent analysis, the memecoin is in a strong uptrend, moving inside an ascending channel. The price breached the mid-channel level on high volume, signaling further upside potential. Additionally, the movement also signals strong buying pressure, though a short-term pullback is possible. 

The surge has caught the attention of some crypto users. An X account named ERROR revealed that the memecoin is a coordinated scam and that the fake volume is running 24/7. Furthermore, ERROR noted that the tokens are being sent to Binance exchange. 

The account also disclosed that the bad actors are cycling 5-30,000 BANANAS31 per second using automated contract methods, and two linked wallets generate wash volume.

“This isn’t speculation — it’s an exit in progress. One wallet controls the flow, bots inflate activity, and funds are already moving to Binance. No real trading, no community, no liquidity depth. If you’re still holding BANANA, you’re the exit liquidity,” ERROR wrote. 

While some X users disagreed, the account stated that it is not a network, but rather, one guy behind multiple wallets. ERROR highlighted that the main wallet handles almost all the token movement.  

Developer Burns Liquidity, Hands Over Control

BANANAS31 is built on the BNB Chain, offering users rapid transaction speeds and minimal fees. With a forward-looking design, the project incorporates cross-chain compatibility, enhancing operational efficiency and enabling broader network integration.

On November 16, 2024, BANANAS31 was launched on the Four.meme platform, operating on the Binance Smart Chain and initially powered by artificial intelligence. The project quickly went viral after Elon Musk took notice, earning a PancakeSwap listing.  

Soon after, developer World_Terminal decided to burn all the liquidity and step away, giving the community complete control. The memecoin derives its value from a combination of market sentiment, project fundamentals, and the involvement of its community.  

Furthermore, on December 3, 2024, the memecoin emerged as the winner of the third round of the “Meme Coins Innovation” competition hosted on BSC. This accomplishment has significantly enhanced its market presence and reinforced its position as a key contender in the meme crypto sector. 

Following the competition, BANANAS31 reached a new milestone on December 20, 2024, and was formally accepted into Binance Alpha Phase 4. This development marks a significant step forward in its ongoing efforts to integrate itself into the global crypto infrastructure.

The memecoin serves as a governance token with multifunctional utility, including enabling liquidity mining within its native ecosystem. This adaptability fosters sustained user participation and contributes to the token’s long-term value proposition. 

Meanwhile, the protocol operates under a decentralized governance model, granting token holders the ability to vote on core proposals, fund ecosystem initiatives, and influence strategic planning. This structure ensures alignment between project evolution and community-driven interests.

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