Binance has electrified the crypto community by confirming the listing of three meme coins – Neiro, Turbo, and Baby Doge Coin. This announcement catalyzed significant price movements for each coin, reflecting diverse market reactions.
On September 16, 2024, at 10:00 UTC, Binance will open trading for NEIRO/USDT, TURBO/USDT, and 100000BABYDOGE/USDT.
Meme Coins Surge as High as 45% After Binance Announcement
Neiro, often referred to as the ‘little sister of DOGE,’ was launched on the Ethereum blockchain. This occurred after a heartfelt announcement by the owner of the iconic Shiba Inu, Kabosu, which spurred immense interest within the community.
Turbo calls itself a meme coin designed by artificial intelligence for the people. Meanwhile, Baby Doge Coin, deriving from the Doge meme community, focuses on creating a fun atmosphere and raising awareness for animal adoption.
Read more: 7 Hot Meme Coins and Altcoins that are Trending in 2024
Upon listing, Neiro’s value surged by 18% almost immediately, although it later settled to a modest 3% gain. Conversely, Turbo maintained a steady 9% increase. Baby Doge Coin, however, showed the most dramatic growth, skyrocketing over 48% post-announcement and still holding a strong 44% rise at the time of writing.
Neiro, Turbo, and Baby Doge Coin Price Performance. Source: TradingView
Binance has issued a caution to its users regarding the volatility associated with these newly listed meme coins. It advised users to conduct extensive research and exercise adequate risk management before trading.
“NEIRO, TURBO, and 100000BABYDOGE are relatively new tokens that pose a higher than normal risk, and will likely be subject to high price volatility,” the crypto exchange stated.
Furthermore, Binance has implemented a ‘seed tag’ for these tokens. This designation suggests they may experience higher volatility and carry more risk than other listed tokens.
To trade these tokens, users must pass quizzes every 90 days. These quizzes are designed to ensure that users understand the risks involved.
Read more: Binance Review 2024: Is It the Right Crypto Exchange for You?
In addition to the educational measures, Binance has enabled features such as trading bots and spot copy trading for these tokens. These features will be available within 24 hours of the tokens’ listing.
