Baby Doge Coin Lifts Off 86% Amid Listing On Binance: What’s Next?

• Binance revealed the listing of three new cryptocurrencies: Baby Doge Coin, Turbo, and Neiro Ethereum.
• The Baby Doge Coin price gained a massive 86% following the listing announcement.

The biggest cryptocurrency exchange in the world, Binance, announced listing three meme coins with an applied seed tag. These meme coins include Baby Doge coin (BabyDoge), Turbo (TURBO), and Neiro Ethereum (NEIRO). The seed tag over a cryptocurrency means that it will be monitored for 90 days.

Following the announcement, the BabyDoge price exploded and was currently up over 86% intraday. Despite the meme coin market trading in with a bearish bias, these new listing coins seemed to be in the top trending ones.

Regarding the other two, Turbo has also benefited from being listed on Binance and was up over 23% when writing. While the other two witnessed positive price changes, NEIRO headed downward, losing 36% intraday.

Twitter Chatter Skyrockets Amid Baby Doge Coin Listing on Binance

In a recent post on X, Binance posted a listing of three tokens with an added seed tag. The trading of these tokens started on 16th September. However, users can also place withdrawal requests on Tuesday, 17th September.

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

The price and on-chain metrics of Baby Doge Coin were noted to have sharp growth following the announcement. As per Santiment, an on-chain analytics provider, the social metrics have noted exponential growth amid the listing news on Binance.

The social metrics include social dominance and volume. It measures the change in the influence of assets among the users on various social media platforms.

Social media platforms like X, Telegram, etc., act as a medium for recent updates and developments in cryptocurrency. An increased engagement of the users highlights a possible surge in demand, which could fuel the higher asset price.

Baby Doge coin’s intraday trading volume has also surged by 2686.5%. As a result, the daily transaction volume has reached nearly 60% of the market cap, suggesting high volatility. The intraday transaction volume was $214.8 Million against a total market cap of $303 Million.

What’s Next for Baby Doge Coin?

Following an 86% surge in intraday, the BabyDoge price has reached a three-month high in less than a day. The price has pumped totally based on sentiments. However, one good thing that happened with the token was the trend shift to bullish territory.

 

BabyDoge price blasted in intraday, leaving behind the 50 and 200-day exponential moving averages, acting as a dynamic resistance earlier. The recent surge has flipped them into a support one.

On the higher side, suppose the Baby Doge coin breaches $0.00000000209, which is the intraday high. It may again show a strong upside rally as the community sentiments are higher.

However, if the BabyDoge price stalls near the resistance, it may head for a profit booking. This could happen as the short-term traders have gotten good in intraday.

The technical indicator RSI suggested an overbought condition, which may trigger investor profit booking.

Disclaimer

This article is for informational purposes only and does not provide any financial, investment, or other advice. The author or any people mentioned in this article are not responsible for any financial loss that may occur from investing in or trading. Please do your research before making any financial decisions.