Elon Musk Tweet Sends New Baby Doge Coin Up – Meme Token Daily Profits Up 228% – Bitcoin News
While Dogecoin and the ERC20 token Shiba Inu have surprised the masses with phenomenal profits this year, another Dog token has entered the fray. A coin project called “Baby Doge” is up 228.3% in the past 24 hours and even more after Tesla CEO Elon Musk tweeted about the crypto asset.
Another dog crypto coin is experiencing an increase in value
Just when you thought there were lots of dog meme tokens flooding the market, another dog coin broke out of the kennel. A new token called Baby Doge (BABYDOGE) has been talked about in the crypto community for the past few days, and Elon Musk decided to tweet about the token on Thursday. Musk’s tweet wasn’t very coherent and he was easy said:
Baby Doge, doo, doo, doo, doo, doo, Baby Doge, doo, doo, doo, doo, doo, Baby Doge, doo, doo, doo, doo, doo, Baby Doge.
Of course, Musk’s tweet made the Baby Doge token skyrocket as the digital currency rose 228.3% in the past 24 hours. Seven-day statistics against the US dollar show Baby Doge is up 53% this week, and over the past two weeks the coin is up 716.9%.
Information about Baby Doge can be found on the Binance Smart Chain (BSC) token tracker bscan.com and the crypto asset has a website called babydogecoin.com.
“Baby Doge Coin learned a few tricks and lessons from his meme dad Doge,” it says on the web portal. “A new crypto that was born by fans [and] Members of the Dogecoin online community. Baby Doge is trying to impress his dad by showing off his new improved transaction speeds [and] Worship, ”adds the website. In addition, the website points out:
[Baby doge] is hyperdeflationary with a built in smart staking system built in to reward you so that more Baby Doge coins are automatically added to your wallet with every transaction. Just love, pet and watch your baby doge grow.
How does Baby Doge compare to Dogefather and sibling Shiba Inu?
The canine meme token can be a bit deflationary due to its design as baby doge owners earn it by simply holding it. “Watch the amount of Baby Doge in your wallet grow as all owners automatically receive a 5% fee for every transaction that takes place on the Baby Doge network,” the web portal says.
Baby doges are plentiful, however, as bscan.com and other coin market cap aggregation sites show that there are four hundred and twenty quadrillion baby doges. This is very different from the maximum supply of the Bitcoin (BTC) network of 21 million.
The coin now trades for less than a US penny at $ 0.000000001910 per baby dog. It recently hit an all-time high (ATH) at 0.000000002014 and is just 5% below the ATH. Similar to the Shiba Inu (SHIB) coin, it still has some work to do before it reaches a US penny worth.
On the flip side, SHIB is much closer than Baby Doge at $ 0.00000839 per SHIB token. The circulating supply of SHIB is also much less, with only four hundred and ninety-seven trillion SHIB in circulation today.
The only thing Baby Doge (BABY DOGE) has that dwarfs its father Dogecoin (DOGE) and sibling Shiba Inu (SHIB) is lower transaction fees. SHIB, for example, is an ERC20 token and has to deal with Ethereum fees, while sending Dogecoin over 2 costs DOGE as the average transaction fee on Thursday is around $ 0.491 per transaction.
When transacting with BSC and Baby Doge, users are charged fees of as little as 1 gwei (an Ethereum gas meter) or around 0.000000001 BNB. There is no fee data on the Baby Doge token, but a transaction should cost less than a US penny.
What do you think of the Baby Doge project and the rise of the coin this week? Let us know what you think on this matter in the comments below.
Photo credits: Shutterstock, Pixabay, Wiki Commons
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source https://bidsfor.me/elon-musk-tweet-sends-new-baby-doge-coin-up-meme-token-daily-profits-up-228-bitcoin-news/
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