Altcoin
Binance Adds New Trading Pairs for Notcoin and Dogwifhat
Binance has expanded its trading options by introducing new trading pairs for Notcoin (NOT) and Dogwifhat (WIF). From tomorrow, Notcoin will be traded for the Brazil Real (BRL) and Dogwifhat for the Euro (EUR).
Binance Adds Notcoin and Dogwifhat Trading Pairs
Binance is still adding new trading pairs and now offers Notcoin and Dogwifhat for trading. Notcoin started its journey as a Telegram game on the TON blockchain and became widely popular due to the tap-to-earn mining system. Initially met with skepticism, it has since expanded, reaching $1.8 billion in market capitalization and $1 billion in trading volume.
Another meme coin that has also performed well is Dogwifhat, a Solana-based token depicting a Shiba Inu dog wearing a hat. Dogwifhat was launched in November 2023, and within no time, its price went from almost zero to $4.88. The token now has a market capitalization of $2.76 billion and a trading volume of $500 million. These new pairs, available for trading in BRL and EUR, show the importance of the tokens in the market as they bring liquidity and convenience for traders.
By listing popular tokens like Notcoin and Dogwifhat, Binance wants to attract more trading volume and generate more revenues through trading fees. These pairs are evidence of Binance’s efforts to diversify its platform and enhance its clients’ trading experience.
Besides the new trading pairs, Binance will also offer trading bot services for Notcoin and Dogwifhat. These bots will also help improve the trading experience by providing automated trading options to users so they can manage their trades. Nevertheless, traders from several countries, such as the United States, Canada, and the Netherlands, cannot trade these pairs because of regional restrictions.
Users need to verify their accounts to trade these new pairs. This measure enhances compliance with legal frameworks and the safety of trading activities on the platform. Through these measures, Binance seeks to ensure that its trading platform is secure and complies with the law.
Dogwifhat Price Surges by 11%
Following the announcement, the market has reacted positively to the news. The price of WIF increased by 11% and is currently trading at $2.75. Despite this price increase, the trading volume for WIF has decreased by 6.09%, indicating a potential bearish trend in the market. Traders have established a support level at $2.42 and a resistance level at $2.90, highlighting the volatility in the WIF market.
Similarly, NOT has seen a price increase of over 20%, currently trading at $0.01858. The highs and lows for Notcoin are $0.015 and $0.01905, respectively. These price movements reflect the market’s response to Binance’s announcement and the growing interest in these tokens.
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The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
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