Binance, a leading crypto exchange, has caused excitement in the crypto community by announcing the listing of three new meme coins: Neiro, Turbo, and Baby Doge Coin. This news sparked a significant reaction in the market, with prices of each coin experiencing notable rises. Â
Trading for these meme coins—NEIRO/USDT, TURBO/USDT, and 100000BABYDOGE/USDT—will open on September 16, 2024, at 10:00 UTC.Â
Meme Coins React to Binance ListingÂ
Neiro, often seen as a ‘little sister of DOGE,’ was introduced on the Ethereum blockchain. The coin gained popularity after a touching announcement from Kabosu, the owner of the original Shiba Inu dog. Turbo, a meme con developed with the help of artificial intelligence, aims to be for the people. Baby Doge Coin, inspired by the Doge meme community, focuses on creating a fun environment and promoting animal adoption. Â
After the listing announcement, Neiro’s price initially jumped by 18%, later leveling off to a 3% gain. Turbo maintained a steady increase of around 9%. Baby Doge Coin experienced the most dramatic rise, soaring by over 48% before settling at a strong 44% increase.Â
Binance Warns of Meme Coin VolatilityÂ
Binance has cautioned users about the high volatility of these newly listed meme coins. The exchange urges investors to do thorough research and employ careful risk management before trading these assets. To highlight the potential risks, Binance has given these tokens a ‘seed tag,’ indicating that they may experience higher volatility compared to other listed tokens.Â
To ensure users are aware of the risks, Binance requires them to pass quizzes every 90 days before trading these coins. Additionally, features like trading bots and spot copy trading will be available within 24 hours of the listing, giving traders more tools to navigate the market.Â
