Baby Doge Coin Price

What Is Baby Doge Coin (BABYDOGE)?

Baby Doge Coin (BABYDOGE) is a BEP-20 meme cryptocurrency built on BNB Smart Chain (formerly Binance Smart Chain) as a spin-off from the popularity of Dogecoin. Created by the vibrant Doge community, the token is seen as an improvement over Doge in terms of speedy transactions and a hyper-deflationary design to ensure scarcity.

Furthermore, Baby Doge has launched Baby Doge Swap to facilitate token swaps and increase the utility of its native token. The project has also launched its Baby Doge NFT collection, which is sold out but is available for secondary trading on OpenSea.

BabyDoge is also on a charity mission to help save dogs and raise awareness of animal protection and adoption. The project has donated over $750,000 toward this cause through partnerships with various animal rescues and shelters.

BABYDOGE Price

BABYDOGE has experienced wild price rides since its launch on June 1, 2021, with a phenomenal price spike of over 1,000% in roughly two weeks, hitting $0.000000002014 on June 25, 2021.

Soon after, the price corrected, moving sideways and dipping to $0.0000000009461. However, BABYDOGE was inevitably hit by the “Elon Musk effect” when he tweeted about Baby Doge in a cryptic song on July 1, 2021. The infamous tweet drove the meme coin’s price through the roof, where it hit $0.000000005202 four days later.

Afterward, the BABYDOGE price retraced and gradually declined over the following months. However, at the beginning of October 2021, it began to recover, pumping to $0.000000004319 at the close of October. In what seems to be a trend on the Baby Doge Coin price chart, the token once again corrected.

BABYDOGE opened 2022 strong with a bullish trend in January which saw the token hit its highest price yet of $0.000000006193 on January 17. An ensuing price correction led to a low of $0.000000000817 in mid-May 2022. BABYDOGE has been trading sideways since then at around $0.0000000012.

What Is BABYDOGE Used For?

While most meme coins are rarely utility-enabled, the creators of BABYDOGE are working on building the token’s value in its ecosystem and beyond. The project has a charity wallet that it uses to donate Baby Doge coins to animal causes.

Further, BABYDOGE is used to pay transaction fees on the Baby Doge ecosystem. Half of the 10% transaction fee collected is redistributed to token holders. The remaining 5% is used to provide liquidity by pairing it with BNB and adding it as a liquidity pair on PancakeSwap. The generated LP tokens are used either for burning BABYDOGE, or reinvested in the project.

Also, BABYDOGE has been listed on CoinPayments, which allows merchants that build on Shopify, WooCommerce and Magento to integrate the token as a payment option.

BABYDOGE Tokenomics

Unlike Dogecoin (DOGE), which has no supply limit, BABYDOGE has a max supply of 420 quadrillion. BABYDOGE is hyper-deflationary, with an aggressive auto-burn mechanism to create scarcity by reducing its supply. Out of every on-chain transaction, a percentage is sent to a dead wallet for burning, with 46% burned thus far (as of October 2022).

Who Is the Founder of Baby Doge Coin?

As with most meme coins, Baby Doge Coin’s founder is pseudonymous. The project is community-owned, and was created by fans of DogeCoin.

Read more: Why Is Baby Doge Coin (BABYDOGE) Gaining Hype in the Crypto Space?

How to Store BABYDOGE

As a BEP-20 token, you can store BABYDOGE in wallets compatible with BNB Chain, such as Guarda, Trust Wallet, MetaMask and SimpleHold.