Sudeng (HIPPO) Surges Following Binance Listing Announcement: Will The Rally Continue?

Date: Wed, Nov 13, 2024, 11:22 AM GMT

In the cryptocurrency market today, Binance has once again stirred the market with a new listing announcement. This time, it’s the SUI-based memecoin Sudeng (HIPPO), which surged by almost 100% within an hour of the announcement. HIPPO joins the recent wave of Binance-listed memecoins like PNUT and ACT, sparking fresh excitement among traders and investors.

Source: Coinmarketcap

Binance Future Listing Fuels Market Excitement

An hour ago, Binance announced the launch of HIPPOUSDT and 1000XUSDT perpetual contracts with leverage of up to 75x, which will go live at 12:30 (UTC) on Nov 13.

Source: @BinanceFutures (X)

This news instantly sparked a trading frenzy around HIPPO, sending the token to an all-time high of $0.02453, easily breaking past previous resistance levels of $0.01240 and $0.01957. Currently, HIPPO is trading at around $0.02117, making it one of the most-watched tokens on Binance right now.

Will the Rally Continue?

The question on every trader’s mind is whether HIPPO can maintain its momentum. Looking at recent memecoins listed on Binance’s futures, such as Gaotseus Maximus (GOAT) and Moodeng (MOODENG), both experienced similar initial rallies followed by a 50% correction. After stabilizing, they each rebounded, kicking off another leg up. Based on this trend, HIPPO might experience a similar correction before possibly making another upward move.

Disclaimer: This article is for informational purposes only and not financial advice. Always conduct your own research before investing in cryptocurrencies.

Also Read: PNUT and DOGE Records New All-Time Highs After Massive Rallies: What’s Driving the Surge?