Binance announced the listing of Neiro, Turbo, and Baby Doge Coin, along with “Seed Tag,” sending their prices soaring.
Leading cryptocurrency exchange Binance announced the listing of three new memecoins on Monday morning, sending their values soaring as soon as the news broke. The exchange added Neiro, Turbo, and Baby Doge Coin to its trading platform.
These new coins will begin trading on September 16 at 10:00 UTC, with trading pairs NEIRO/ USDT, TURBO/ USDT, and 100000BABYDOGE/ USDT. Binance users can already start depositing these Token in preparation for trading. However, the exchange will allow withdrawals from September 17.
It is worth noting that Binance will apply a “Seed Tag” to these Token , signaling that they are highly volatile and potentially risky. As such, users will be required to take a 90-day test on the Binance Spot or Binance Margin platforms to trade these Token . This ensures that traders are not only fully informed, but also willing to accept the risks involved. Additionally, users must continue to agree to Binance’s Terms of Use to maintain access to trading.
Binance’s “Seed Tag” was introduced as a precautionary measure for Token listed in their Innovation Zone, for new and experimental projects. For example, NEIRO was just launched last month and has shown high volatility.
Project Information
Neiro (NEIRO) is an Ethereum- based memecoin that bills itself as the successor to Doge. The project has attracted a lot of attention in just a month since its launch. Its market Capital skyrocketed 400% to $102 million within an hour of Binance announcing its listing. At the time of writing, the Neiro Token is trading at $0.00026, up 490% over the past 24 hours, although its value is volatile.
Turbo (TURBO) is another popular memecoin, but it was designed by artificial intelligence (AI). The creators used OpenAI's GPT-4 model to launch the Token for just $69. The Token currently has a market Capital of $270 million and is trading at around $0.0045, up 12% in the last 24 hours.
Coming from the same community that created Dogecoin , Baby Doge Coin (100000BABYDOGE) is a Binance Smart Chain (BSC) Token . This memecoin has built its community around fun and light-heartedness, while promoting awareness of animal adoption.
Meme Coin Market
The memecoin market has seen significant growth in recent years, amid social media hype, group marketing, and community activity. Over the past year, the market Capital of the top memecoins has increased by more than 160%, now reaching $38 billion.
Many big names have also jumped into the memecoin space, capitalizing on its rising popularity. For example, TRON founder Justin Sun launched his own memecoin creation platform, SunPump, which generates huge revenue and sees a flurry of daily activity. Additionally, his memecoin, Sundog, which launched in August, has seen its value increase by 500% over the past month.
