BabyDoge Coin (BABYDOGE) Price Nets Traders 111% Profits In 2 Days
NOIDA (CoinChapter.com)—BabyDoge Coin (BABYDOGE) has seen increased attention after securing a listing on Binance.
Simultaneously, a whale investor known as #MrLUbd accumulated 1.72 trillion BABYDOGE over three years, resulting in a 228% return on a $1.37 million investment. With the Binance listing and notable whale activity, the token has entered a new phase of market interest.
Whale Accumulation and Binance Listing Propel Prices
The recent Baby Doge Coin activity surge was likely due to whale accumulation and the memecoin’s listing on Binance. A whale investor known as #MrLUbd has accumulated 1.72 trillion BABYDOGE tokens over the past three years.
BABYDOGE whale’s holdings’ value spikes.
The investor accumulated his bag at an average entry price of $0.0000000008 per token, leading to a total investment of $1.37 million. As the token’s price surged, #MrLUbd’s holdings swelled to $3.14 million, reflecting a 228% return on investment.
This whale activity might hint at a growing interest in Baby Doge Coin from major players, but the token also gained momentum due to a recent Binance listing. On Sept. 16, 2024, Binance enabled spot trading for Baby Doge under BABYDOGE/USDT.
The exchange allowed deposits to open an hour before trading, with withdrawals set to begin on Sept. 17. However, Binance has been cautious, emphasizing the token’s high risk and volatility. It classified BabyDoge Coin with a “seed tag,” highlighting the token’s volatility.
The whale’s accumulation and the Binance listing likely helped push BabyDoge Coin price higher.
BABYDOGE Price Rockets
The BABYDOGE USD pair price rocketed over 111% since Sept. 15 to reach a daily high near $00000000215 on Sept. 17 with the biggest spike of nearly 103% happening on Sept. 16.
BABYDOGE USD daily price chart. Source: Tradingview
BABYDOGE coin’s listing on Binance flooded the market with buyers, usually the norm following an exchange listing. The memecoin’s price continued its uptrend on Sept. 17 with a nearly 16% price spike.
If BABYDOGE coin price continues to rally, the token could break above the resistance near $0.00000000221. Moreover, breaking and consolidating above the immediate resistance might help BABYDOGE Coin price target the resistance near $0.00000000285 before paring gains.
On the other hand, a sudden spike like the one BABYDOGE is currently enjoying often attracts the profit-booking crowd. Hence, the BABYDOGE USD risks dropping to the support level near $0.00000000154.
Failure of the immediate support level would bring the 100-day EMA (blue wave) support near $0.00000000123 into play, erasing most of the token’s recent gains.
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