Binance has begun trading new memecoins Neiro, Turbo, and Baby Doge, all of which are marked with a 'seed' tag to indicate their high volatility. Trading started on September 16 at 10:00 UTC.
New Memecoins on Binance
Binance has opened spot trading for First Neiro on Ethereum (NEIRO), Turbo (TURBO), and Baby Doge Coin (1MBABYDOGE). These tokens are marked with a 'seed' tag, indicating their novelty and potential for high volatility. Users are required to complete a quiz every 90 days to confirm the exchange's terms and conditions. Withdrawals from these trades will be available starting September 17.
Current Market Analysis
In the last 24 hours, the memecoin market has shown a 4% decrease according to CoinGecko. However, the newly listed memecoins display mixed trends: Baby Doge is up 50%, Neiro is down 30%, and Turbo is up 12%. The market cap for Neiro on Ethereum is around $90 million, Baby Doge is approximately $230 million, and Turbo is nearing $300 million. These figures demonstrate investor interest and high trading volumes in this category.
Memecoins on Other Blockchains
The memecoin market on other blockchains, such as Solana and Tron, is also shifting. Over the last 24 hours, memecoins on Solana have lost about 6% of their value, while Tron-based memecoins have lost around 11%. Notably, Dogecoin remains the largest memecoin with a market cap under $15 billion, while Shiba Inu and Pepe occupy the second and third positions, respectively.
Memecoins continue to attract significant attention in the crypto market despite their high volatility. The introduction of new tokens on major exchanges like Binance sustains investor interest and contributes to increased trading volumes.
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