Binance announced the listing of Neiro, Turbo, and Baby Doge Coin, with the “Seed Tag”, triggering a surge in their prices.
On Monday morning, leading cryptocurrency exchange Binance announced the listing of three new memecoins, causing a surge in their prices shortly after the news broke. The exchange has added Neiro NEIRO $0.00016 24h volatility: 7.2% Market cap: $68.90 M Vol. 24h: $34.73 M , Turbo TURBO $0.00178 24h volatility: 7.4% Market cap: $122.45 M Vol. 24h: $29.15 M , and Baby Doge Coin BABYDOGE $0.000000 24h volatility: 3.0% Market cap: $185.93 M Vol. 24h: $11.80 M to its trading platform.
The new listings are set to go live on September 16 at 10:00 UTC, with spot trading pairs available for NEIRO/USDT, TURBO/USDT, and 100000BABYDOGE/USDT. Binance users can already start depositing these tokens in preparation for trading. However, the exchange will enable withdrawals on September 17.
It is important to note that Binance will apply its “Seed Tag” to these tokens, which signals their high volatility and potential risk. As a result, users are required to pass quizzes every 90 days on either the Binance Spot or Binance Margin platforms to trade these tokens. This step ensures traders are not only informed but also voluntarily assume the risks involved. Additionally, users must repeatedly agree to Binance’s Terms of Use to maintain trading access.
Binance’s Seed Tag has been introduced as a precautionary measure for tokens listed in its Innovation Zone, which is designed for newer and experimental projects. For instance, NEIRO was launched just last month and exhibits high volatility.
Projects’ Details
Neiro (NEIRO) is an Ethereum-based memecoin that positions itself as a successor to the Doge legacy. The project has gained major attention in just a month of its launch. Its market cap has skyrocketed by 400% to $102 million within an hour of Binance’s listing announcement. At the time of writing, Neiro token is trading at $0.00026, up by 490% in the past 24 hours, though its value remains highly volatile.
Turbo (TURBO) is another popular meme coin, but being designed by artificial intelligence (AI). Its creator used OpenAI’s GPT-4 model to launch the token with a mere $69 investment. As of now, the token holds a market cap of $270 million and is trading at around $0.0045, marking a 12% rise in the past 24 hours.
Emerging from the same meme-driven community that birthed Dogecoin, Baby Doge Coin (100000BABYDOGE) is a Binance Smart Chain (BSC) token. The meme coin has built its community around fun and lightheartedness while promoting animal adoption awareness.
Meme Coin Market
The meme coin market has experienced significant growth in recent years amid high social media hype, group marketing, and community engagements. In the past one year, the market cap of top meme coins has surged by over 160%, currently standing at $38 billion.
Many big names have also jumped on the memecoin bandwagon, tapping into its growing popularity. For instance, Tron founder Justin Sun launched his own memecoin generator platform SunPump, generating massive revenue and daily activity. Moreover, his meme coin, Sundog, launched in August, has seen its value surge by 500% in the past month.
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