Binance’s latest listing of meme coins—Turbo (TURBO), Neiro (NEIRO), and Baby DogeCoin (BabyDoge)—has sparked a massive rally in their prices. On September 16, 2024, the leading cryptocurrency exchange opened trading pairs for these tokens, including NEIRO/USDT, TURBO/USDT, and 100000BABYDOGE/USDT. This listing has created significant market enthusiasm, especially since Binance applied the “Seed Tag” to these coins. With over 220 million registered users on Binance, these meme coins are now exposed to a vast audience, leading to increased trading activity and market gains.
Why Binance Listings Are a Game-Changer for Meme Coins
Getting listed on Binance can have a transformative effect on cryptocurrency projects. For meme coins, which often rely on community support and hype, a Binance listing provides:
- Increased liquidity: Access to Binance’s deep liquidity pools ensures smoother trading experiences.
- Broader exposure: Being listed on Binance opens up these coins to a global audience, increasing their adoption.
- Trading bot access: Listings on Binance make these coins available for trading bots and spot-copy trading strategies.
Despite some experts suggesting that Binance listings may serve as an “exit liquidity strategy,” the impact on meme coins tends to be overwhelmingly positive, at least in the short term.
Market Impact of Turbo, Neiro, and Baby DogeCoin Listing
Neiro (NEIRO) Price Surge
Neiro saw a remarkable 440% rally within 24 hours of the listing, trading at around $0.000245. The coin entered a price discovery phase, with a fully diluted valuation of approximately $103 million and a daily trading volume of around $43 million.
Baby DogeCoin Price Rally
Baby DogeCoin experienced a 55% price increase, trading above $0.00000000165. With over 1.87 million holders and liquidity exceeding $22 million, the coin’s inclusion on Binance has significantly amplified its market reach and trading volume.
Turbo (TURBO) Gains Traction
Turbo showed a 17% rally, trading at approximately $0.000438 following the listing. The price jump indicates market confidence and a newfound interest from traders looking to capitalize on its Binance listing.
Binance Will List @neiroethcto $NEIRO, @TurboToadToken $TURBO and @BabyDogeCoin $BABYDOGE with Seed Tag Applied.
Read more 👉 https://t.co/cwaNCfaAS7 pic.twitter.com/7gvibLZYQ0
— Binance (@binance) September 16, 2024
Binance’s Focus on Established Meme Coins
It’s notable that Binance chose meme coins with significant market caps. All three listed coins have market capitalizations exceeding $100 million, with Turbo and Baby DogeCoin surpassing the $200 million mark. This indicates Binance’s strategy of focusing on more established projects with substantial market traction rather than smaller, more speculative assets.
Binance’s listing of Turbo, Neiro, and Baby DogeCoin has ignited a frenzy in the meme coin market. The listing not only offers these coins access to Binance’s deep liquidity and vast user base but also signals their potential for long-term growth. By prioritizing more established meme coins, Binance continues to shape the cryptocurrency market dynamics, reinforcing its influence on meme coin valuations.
