Baby Doge Coin spikes 57% following Binance listing

Multi-chain meme coin Baby Doge Coin records a sharp increase in its price following a listing announcement from Binance. 

Binance, the world’s largest cryptocurrency exchange by trading volume, revealed today that it would list Baby Doge Coin (BabyDoge) alongside Neiro (NEIRO) and Turbo (TURBO) for spot trading. The disclosure generated renewed interest among traders, leading to a rapid price rally for BabyDoge.

According to Binance, trading for the 1MBABYDOGE/USDT pair would start at 10:00 UTC today. The exchange also opened deposits for the listed coins one hour prior to the start of trading, allowing users to prepare for the market launch. 

Per the announcement, withdrawals will be available starting tomorrow, Sept. 17, as scheduled. The platform noted that no listing fees were charged for the assets.

Following the announcement, BabyDoge saw a dramatic price rise, spiking by more than 86% this morning to reach the $0.000000002 psychological level for the first time in more than three months. 

BabyDoge price – Sept. 16 | Source: crypto.news

This represents a substantial recovery after the token had been under pressure since mid-June, along with much of the broader cryptocurrency market. Despite facing resistance at the $0.000000002 level, the coin has managed to maintain a 57% gain over the past 24 hours.

Notably, BabyDoge currently trades at $0.0000000017060, up 59% this morning, with its price breaking through the upper Bollinger Band at $0.0000000013246. 

This current position suggests that BabyDoge’s price has significantly deviated from its typical range, showing high volatility in response to the Binance listing announcement. However, this also suggests that the token is currently overbought, and a retracement could be on the horizon.

Further, The Commodity Channel Index for BabyDoge has also surged to 549, confirming the strong upward momentum. Such a high CCI reading suggests that BabyDoge is experiencing heightened buying pressure, with volumes spiking to levels last seen in late August.