Binance Alpha and Upbit Listings Send PALU and DOOD Prices Soaring

Major cryptocurrency exchanges Binance and Upbit have announced two altcoin listings today, leading to substantial price increases and heightened market activity. 

Binance’s Alpha platform added the meme coin PALU. Meanwhile, Upbit revealed that it will introduce trading support for Doodles (DOOD).

Binance Alpha Listing Pushes PALU’s Market Value Over $80 Million

PALU is a community-driven meme mascot token issued on the BNB Chain. The token initially gained traction after Binance founder Changpeng Zhao (CZ) reposted fan artwork featuring a CZ-themed PALU mascot.

This triggered a major pump, which amplified when Binance’s Alpha platform, which highlights emerging tokens, officially listed PALU. Following the crypto listing, the token’s market capitalization skyrocketed from roughly $3 million to over $80 million.

PALU Price Rally. Source: Gecko Terminal

At press time, PALU’s market cap had adjusted to $74.4 million. It was trading at $0.77, marking a 1,693.7% gain so far today amid the rapid developments. 

Moreover, a market suggested that the meme coin’s strong performance and community appeal could make it a likely candidate for an official Binance listing.

“Honestly, @palucto feels like the perfect mascot coin for Binance. I wouldn’t be surprised if it hits the main Binance listing next,” an analyst wrote.

Nonetheless, behind the explosive rally, on-chain data reveals coordinated buying activity that fueled the surge. An on-chain analyst pointed out that 12 addresses collectively purchased around $2.98 million worth of PALU following the announcement, contributing to the price pump. 

Doodles (DOOD) Hits Record High After Upbit Listing 

Besides Binance Alpha, Upbit will also expand its spot platform offerings today. In a recent notice, the exchange revealed that it will list DOOD, with trading starting at 4:30 PM Korean Standard Time (KST).

The token will be available to trade against two pairs: Tether (USDT) and the Korean Won (KRW).

“Deposits and withdrawals are supported only through the designated network (DOOD–Solana). Please verify the network before making a deposit.The contract address for DOOD supported on Upbit is: DvjbEsdca43oQcw2h3HW1CT7N3x5vRcr3QrvTUHnXvgV,” Upbit stated.

Following the announcement, the altcoin surged from $0.0066 to a high of $0.018, representing a 178% increase. The latter also marked a new all-time high (ATH) for DOOD.

Doodles (DOOD) Price Performance. Source: TradingView

At press time, it traded at $0.014, up nearly 126% since the announcement, with a market capitalization exceeding $120 million.