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The cryptocurrency market is heading towards a potentially rocky terrain this "month of love", but the month of January will remain a happy memory for some investors, particularly those that have made substantial investments in leading meme pieces such as floki, shiba inu, and, doggy patch.
How about a doge baby room? Maybe you should ask.
Yes. similar to dogecoin and shiba inu, baby doge coin (baby doge) is a cryptocurrency based on memes. Baby Doge is a comic cryptocurrency held in more than 300,000 portfolios that sees itself as a "Community coin."
It was implemented in 2021 with a total amount of 420 quadrillion tokens, and the first prize reported was only $0.0000000000000175.
CoinMarketCap data shows the current total value of all Baby Doge tokens, presuming all 420 quadrillion tokens are in existence, is $691 million.
Image: MEXC Blog
Baby Doge stepping up.
At the time of writing, Feb. 5, 2023, BABYDOGE is trading at $0.000000002860, up 116.0% in the last seven days, data from Coingecko shows. Over the past 24 hours alone, the meme coin, while less well-known, has increased by 22%.
According to the "wool paper," baby's goal is to make cryptocurrency available to the general public and help dogs (of course, the real ones) in need.
At one point, the token generated a return of over 3,500 per cent, and the business behind it donated to a number of animal charities.
Baby Doge shows a lively dog breed similar to that of Dogecoin Shiba Inu mascot, who, according to keen Dogecoin supporters, is her "father."
Although little information about the development team is available on the website or in the white paper, Baby Doge is thought to have been founded by some "Christian Campisi", who has already developed Save Lands and Pawz.
In July 2021, Campisi uploaded a video in which he addressed the Baby Doge Coin community and referred to himself as the “creator” of the cryptocurrency.
Doge baby cherished by Elon Musk.
Tesla's CEO, Elon Musk, tweeted about Baby Doge on July 4, doubling the price. The tweet quotes a parody of the popular song "Baby Shark," with lyrics substituted for "Baby Doge."
This led to rumors that the play is the billionaire's second favorite meme play, after Dogecoin.
The coin partnered with numerous animal charities and sponsored them, including the North American League of Wildlife, society of animal friends, legged, and furkids, for the purpose of helping needy dogs.
Crypto total market cap at $1 trillion on the weekly chart | Chart: TradingView.comDuring this time, it was reported that the BABYDOGE price spike occurred when the team behind the meme coin burned 682 trillion of the token, valued at about $1,091,200.
Burning consists of completely removing the chips from circulation by transferring them to an inaccessible portfolio address.
682 trillion #BabyDoge was burned forever worth estimated $1,091,200 ??
Swap buy back & burn 2.6 trillion #BabyDoge ??
Proofhttps://t.co/b8m0ry36Mh pic.twitter.com/vfYjTuzWo5
— BabyDogeSwap.com LIVE (@BabyDogeCoin) February 1, 2023
This creates a shortage in the supply of coins because it becomes almost impossible to get the chips back, and increase the value of the token.
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