- Binance Announces New Memecoins
- Market Reaction to New Memecoins
- Price Analysis of NEIRO, TURBO and BABYDOGE
Binance launched spot trading for Neiro (NEIRO), Turbo (TURBO), and Baby Doge Coin (BABYDOGE) on September 16, 2024. The NEIRO/USDT, TURBO/USDT, and BABYDOGE/USDT trading pairs became available from 10:00 UTC.
Binance Announces New Memecoins
Binance announced that from September 16, 2024, it would be possible to trade cryptocurrencies Neiro (NEIRO), Turbo (TURBO), and Baby Doge Coin (BABYDOGE).
Market Reaction to New Memecoins
Early signs suggested a selloff among community members, extending weekend losses. NEIRO saw a 30% daily loss at press time, despite an initial 16% rally earlier in the day. Monday morning’s decline means NEIRO has tumbled over 50% in the past three days, losing a significant part of its last week’s gains.
Price Analysis of NEIRO, TURBO and BABYDOGE
TradingView data showed the newly listed memecoin currently trading at $0.0912, a significant pullback from its recent all-time high of $0.2060. Analysts attributed this drop to a selloff by early adopters and airdrop hunters who acquired the memecoins at lower prices. While NEIRO’s price crashed after Binance opened trading, TURBO moved in the opposite direction.
Different dynamics are observed for memecoins after Binance trading began. NEIRO fell significantly, TURBO showed growth, and BABYDOGE remained volatile.
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