These Meme Coins Explode Following Listing on Binance: Details

TL;DR

• Three meme coins saw sharp gains after Binance added new trading pairs.
• On the contrary, Bitcoin, Ethereum, and major meme coins like Dogecoin and Shiba Inu fell amid broader market declines.

Binance Fueled a Significant Pump

The cryptocurrency market has lost some ground in the past 24 hours following the reports that Donald Trump survived a second assassination attempt. Bitcoin (BTC) lost the $60,000 level, currently trading at around $59,000, whereas Ethereum (ETH) dipped below $2,300.

However, some meme coins defied the negative trends, registering impressive price increases. Namely, those are Baby Doge Coin (BABYDOGE), Turbo (TURBO), and Neiro (NEIRO). NEIRO’s progress was the most substantial, with its valuation skyrocketing by over 500% on a daily scale and hitting a new all-time high. BABYDOGE witnessed a 50% rally, whereas TURBO jumped by 12%.

The resurgence happened shortly after Binance listed the following trading pairs on its platform: NEIRO/USDT, TURBO/USDT, and 1MBABYDOGE/USDT.

“Trading Bots & Spot Copy Trading will be enabled for the aforementioned token within 24 hours of it being listed on Spot. For users with running Spot Copy Trading portfolios, pairs can be included by enabling them in the [Personal Pair Preference] section of the Spot Copy Trading settings,” the exchange added.

It is worth noting that Binance added the meme coins with seed tags. Assets in that section represent “innovative projects that may exhibit higher volatility and risks” compared to other listed tokens. The firm warned users to conduct proper due diligence before hopping on the bandwagon.

Subsequently, it revealed that the new trading options will be restricted to eligible users. Some of the countries and regions where the service remains unavailable include the USA, Canada, Cuba, Iran, Netherlands, and more.

The Rest of the Memes Bleed Heavily

The recently introduced meme coins on Binance’s platform are among the very few charting gains in the past 24 hours. The niche’s market cap is down 3% daily, with Mog Coin (MOG) and Sundog (SUNDOG) being among the poorest performers and tumbling by double digits.

The leaders – Dogecoin (DOGE) and Shiba Inu (SHIB) – are also in the red. The price of the former fell by 3% daily and is currently trading at around $0.10, whereas its biggest rival is down 3.5%.