Baby Doge Coin (1MBABYDOGECOIN) surges 134% in 24 hours. After Binance, the largest cryptocurrency exchange, announced that it would offer Baby Doge Coin for spot trading, its value skyrocketed.
The listing attracted traders, sending prices soaring and raising concerns about the durability of this positive trend.
Binance allows deposits for listed currencies one hour before trading begins in preparation for the launches. The platform will allow withdrawals on September 17 and waive listing fees for newly listed assets.
Sharp price increase and market reaction
Baby Doge Coin surged more than 134% today to hit the psychological mark of $0.000000002 for the first time in more than three months since Binance’s announcement.
The token, like the cryptocurrency market, has struggled since mid-June. This price level signals a strong comeback. BabyDoge is up 83% today, trading at $0.000000001996 against a resistance level of $0.000000002.
The surge has taken BabyDoge above the upper Bollinger Band at $0.000000001478, a large deviation from its trading average. The price action shows high market activity due to the coin’s inclusion by Binance. However, many market players are pessimistic about the short-term outlook as the token’s price is approaching overbought levels.
Indicators show bullish potential
Technically, BabyDoge is bullish. With the ADX at 85.6212, the Directional Movement Index (DMI) shows a strong uptrend and high buying pressure. The +DI is at 57.5357, well above the -DI, indicating that buyers are in control of the market.
If the bullish sentiment persists, BabyDoge could challenge the $0.000000002300 level and rise to $0.000000002733. The bullish Bearish Strength Indicator at 0.000000000898 confirms this picture, suggesting that the positive imbalance could see the price continue to rise.
