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Leading cryptocurrency exchange Binance has listed three new meme coins with a relatively small market cap. The tokens include First Neiro On Ethereum ($NEIRO), Turbo ($TURBO), and Baby Doge Coin ($BABYDOGE).
The trading of these tokens opened on September 16 at 10:00 UTC, with the spot trading pairs NEIRO/USDT, TURBO/USDT, and 1MBABYDOGE/USDT now available on Binance.
In an announcement, the exchange revealed that users could begin depositing NEIRO, TURBO, and 1MBABYDOGE an hour before the official launch to prepare for trading. Withdrawals began September 17 at 10:00 UTC.
It places the new memecoins in the same kind of spotlight as tokens such as PepeUnchained ($PEPU), which also has high-profile centralized exchange listings.
Some critics raise eyebrows at coins being listed with relatively tiny market caps before the “Binance pump” kicked in.
What Are $Neiro, $Turbo, $BABYDOGE Meme Coins?
First Neiro in Ethereum, dubbed the “little sister of DOGE,” is a meme coin launched following the passing of the Shiba Inu Kabosu, which was a symbol of the Dogecoin community. After the family of Kabosu adopted a new Shiba Inu, named Neiro, the coin quickly gained traction.
Turbo, another meme coin listed by Binance, is a community-driven project created by artificial intelligence. Its creator used OpenAI‘s GPT-4 model to launch the token with a mere $69 investment.
Meanwhile, Baby Doge Coin, rooted in the Doge meme community, is a Binance Smart Chain token that has built a strong following for its lighthearted and charitable approach.
#Binance lists @NeiroOnEthereum, @TurboToadToken and @BabyDogeCoin today, September 16, at 10:00 UTC
Neiro $NEIRO, Turbo #TURBO and Baby Doge Coin #BABYDOGE will be listed on the USDT market with the seed tag applied.#Crypto #BTC #Web3 pic.twitter.com/CAeoZpovDx
— Charged Ventures (@ChargedVentures) September 16, 2024
Binance warned traders that these newly listed tokens come with high volatility and associated risks. Due to their status as newer projects, users are urged to conduct thorough research and employ robust risk management strategies when trading these assets.
All three tokens have been flagged with Binance’s “Seed” tag. According to the exchange, Seed tags “represent innovative projects that may exhibit higher volatility and risks compared to other listed tokens.”
$Neiro, $Turbo, $BABYDOGE Surge After Binance Listing
Following the Binance listing announcement, $NEIRO, $TURBO, and $BABYDOGE enjoyed a nice price boost.
Neiro, the winner of all three, appreciated 327.8% to $0.00019. The token has surged by a remarkable 928.42% over the past week, reaching a current price of $0.0003791. The coin has surged another 12% over the past day.
As of now, the coin’s market cap sits at $158.65 million. Its trading volume in the last 24 hours soared 159.47%, hitting $390.04 million. This gives Neiro a substantial volume-to-market cap ratio of 252.35%. Neiro’s total supply is 420.69 billion, with 99.49% of that circulating in the market.
Turbo saw a smaller price impact, with a 4.5% rise. While the coin is up 17.24% over the past 7 days, it is actually in the red over the past day, being down by just over 1%. The token’s market cap has also decreased slightly by 0.52%, to $290.19 million, over the past day.
Still, Turbo’s trading volume experienced a 38.40% rise, reaching $148.39 million. With a circulating supply of 64.49 billion TURBO, the volume-to-market cap ratio for this coin is 51.70%, indicating moderate trading activity in comparison to Neiro.
Finally, Baby Doge Coin appreciated 38.7% following the listing news. Furthermore, its price has surged by 91.28% over the past 7 days, now trading at $0.00001835.
Over the past day, the token’s market cap increased by 15.81%, totaling $278.99 million, while trading volume surged 66.91%, reaching $176.44 million. The coin has a circulating supply of 152.02 quadrillion BABYDOGE, giving it a volume-to-market cap ratio of 63.97%.
The Bottom Line
Binance’s listing of $NEIRO, $TURBO, and $BABYDOGE meme coins is apparently due to their strong communities and high demand despite relatively small market caps. And for fans of the projects, it becomes much easier to be involved once a memecoin is on a centralized exchange.
Remember that crypto markets are unpredictable. Therefore, it is important to do your due diligence before investing and never invest more than you can afford to lose. Experts can be wrong in their crypto price predictions.
