Following its listing on Binance Thailand, BabyDoge has experienced an impressive surge, climbing by 222.96% to reach $0.000000002201. This surge comes as the overall cryptocurrency market turns bullish, with Bitcoin trading at approximately $64,000.
The listing on Binance Thailand has played a significant role in BabyDoge’s current surge, as it has increased the token’s visibility and accessibility in the region. This allows users in the country to participate in spot trading of the memecoin on a regulated exchange.
Since Binance introduced perpetual market trading for BabyDoge on September 17, the token has seen a substantial price increase of over 55%. It has risen from $0.000000001586 to $0.000000002472, marking an important recovery for the token after struggling since June.
Currently, BabyDoge is experiencing a slight correction, trading at $0.000000002074. However, its daily trading volume has surged by 88% to $41.06 million, indicating strong market activity.
Technical indicators for BabyDoge suggest mixed signals. The 4-hour chart shows that the 21-day moving average is above the 9-day moving average, signaling a short-term downtrend. However, the price remains above both averages, which could indicate a potential reversal to an upward trend.
On the other hand, the Chaikin Money Flow (CMF) for BabyDoge is -0.19, indicating moderate selling pressure. This suggests that more people are selling than buying, leading to a bearish trend. Although the pressure isn’t very strong, it implies that sellers currently have control.
If the current upward trend continues, BabyDoge could reach levels around $0.0000000025 or even $0.0000000027 in the coming days, benefiting from positive market sentiment. However, if the trend weakens and selling pressure increases, the price may slip back to support levels near $0.0000000019 or $0.0000000017. These levels are crucial to monitor for potential corrections or recovery.
In other crypto news, OpenSea is facing a lawsuit over unregistered NFT securities.
