Baby Doge Coin is a light-hearted meme coin originally launched on Binance Smart Chain. unlike her grandparents Dogecoin (DOGE) And Shiba Inu (sheep)Baby Doge actively rewards its holders and passively increases their holdings through token reversals.
As we often see with the successful meme coins, Baby Doge Coin has built a bustling ecosystem complete with DeFi apps and NFTs. Like their BSC cousin Fluky Eno (Fluky)Baby Doge Coin has also thrown a bone into charitable causes, donating over $750,000.
How is this puppy different from other dog-themed cryptocurrencies? an act Elon Musk Really Shell Baby Doge Coin?
What is Baby Doge?
If you haven’t already guessed, Baby Doge Coin is another dog coin in the crypto market. It initially launched on Binance Smart Chain, or BSC, on June 1st, 2021. After attracting huge volume and notoriety, developers built a blockchain bridge that would allow holders of BABYDOGE tokens to Ethereum (ETH) network.
At 420 quadrillion tokens, BABYDOGE’s maximum offering is one of the largest in the digital asset market. But don’t be fooled by the giant store; More than 200 quadrillion tokens have already been burned, which has reduced the circulating supply and greatly enhanced the scarcity of the tokens.
Baby Doge distinguishes itself from other dogs in the pound with a unique token reflex mechanism. A 10% tax applies to each BABYDOGE transaction, with 5% of each purchase or sale being redistributed among token holders. The remaining 5% is added to BABYDOGE Liquidity on Pancakeswap, which deepens the trading pool and reduces price impact for new investors.
Essentially, simply by holding BABYDOGE tokens, investors are passively growing their holdings in real time. This feature was popular among popular meme icons in 2021, led by popular BSC memes like SafeMoon.
History of the Doge Baby Coin
During the unbridled madness of the bull run of 2021, Baby Doge launches with almost instant success. Within weeks of being listed on PancakeSwap, the meme token had already exploded in price and was attracting attention from top-tier cryptocurrency exchanges.
Baby Doge’s trance went into hyperdrive when the coin’s name was tweeted out by Elon Musk, his favorite cryptocurrency meme amplifier. The Baby Doge Coin price exploded overnight before returning to its previous levels in a meteorite dump.
The Baby Doge Coin community has continued to develop a benefit for BABYDOGE and the surrounding ecosystem. In November 2021, the team connected crypto assets across the Ethereum network in hopes of traction on Ethereum whales for the project.
Despite the community shipping new products under the Baby Doge Coin umbrella, BABYDOGE hasn’t been able to return to an all-time high after Elon’s tweet. The highest price ever recorded for a meme coin was $0.00000002 on July 5th, 2021.
Doge baby coin ecosystem
To stay relevant among the other top dogs in the meme circle, the Baby Doge Coin community has built an exemplary collection of products and services that bring value to BABYDOGE and its ecosystem.
What a meme currency would be complete without a currency of its own decentralized exchange? BabyDogeSwap is the native DEX of the BABYDOGE ecosystem, allowing users to instantly swap cryptocurrencies such as Bitcoin (BTC), rope (USDT)and BNB coins on the Binance Smart Chain.
BabyDogeSwap incentivizes liquidity providers by offering agricultural emissions with generous returns to liquidity providers. Moreover, the platform provides maskwhich means BABYDOGE tokens can be deposited into pools to get fixed emissions from other DEX-listed cryptocurrencies.
BabyDoge Burn Portal
Perhaps inspired by the Shiba Inu, BabyDogeSwap has its own burning gate. Token holders burn BABYDOGE tokens to increase token rarity. In return, they can unlock a reduced fee when they buy BABYDOGE on the ecosystem’s native decentralized exchange.
It is not surprising that the developers of Baby Doge Coins were inspired to launch their own coins NFT To expand the BABYDOGE ecosystem. Like Flokitars and Shibatoshis, the Baby Doge Army is a colorful collection of unique puppies that live on the blockchain.
The original 2D Baby Doge Army NFTs can be placed, allowing the owner to mint a 1:1 3D replica. 2D Baby Doge NFTs are interoperable with Decentraland (MANA) Metaversewhich makes it more useful than the 3D style.
Revenue from the NFT Mint has been dedicated to charitable causes in the past, with over $400,000 donated to the ASPCA, Humane Society, and Best Friends Animal Shelter.
To fulfill its destiny as a currency, BABYDOGE has managed to find itself integrated with some of the largest e-commerce solutions on the Internet. Web giants like Shopify, Woocommerce, and Magento have designed plugins that online merchants can use to accept payment for goods and services using BABYDOGE tokens.
Bidding with baby doge coin
Fortunately, the Baby Doge Coin community decided to put its success to good use. In fact, more than $750,000 has been donated to animal welfare groups since Baby Doge launched in 2021.
The largest single donation was made to Best Friends Animal Society, which received $100,000 from the Baby Doge community. Other groups, including Paws With Cause and FurKids, have also received donations intended to relocate pets and support animal shelters through their No-Kill policy.
Pros and Cons of BabyDoge Coin
While it might be rubbish compared to Shiba Inu, Floki and Solana punkBabyDogeCoin still has a lot to wag its tail. But does the sting match the bark? Let’s review the pros and cons.
- Great stand base – BabyDogeCoin is over 1.7 million unique holders, giving the meme icon a massive community of passionate supporters. To put this into perspective, the Shiba Inu just has it 1.3 million are pregnantAccording to Etherscan.
- Passive carrier rewards – Unlike major competitors, BabyDogeCoin rewards its holders with passive income from trading volume. This stimulates investors to their own HODL, which relieves selling pressure and naturally increases each owner’s investment.
- Competitors outperformed him – Compared to the likes of Shiba Inu and Floki, BabyDogeCoin doesn’t have the resources or know-how to offer a truly original utility. while cheparium And Floki’s Valhalla Metaverse may have problems, BABYDOGE doesn’t come close to delivering the same level of utility.
- Ponzi-esque codes While earning passive income from trading volume seems like an upside possibility, it is important to recognize this feature for what it is. This fun feature is the classic coin ponzi meme game, where money from new investors is distributed to older investors. With over 1.7 million carriers, the reflections are now so small they are almost unnoticeable.
- Frustrating ecosystem Decentralized exchange and NFT collection are fun features, but ultimately they are not very creative or original. BabyDogeCoin needs to do more if it expects to survive under the dog’s weight.
on the flip side
- Meme Coins are just meant to be memes. Perhaps judging them harshly for counterfeit products and viral tokens is unfair. Meme coins are designed to be fun and not take themselves too seriously.
Why should you bother
As meme coins across the crypto market rally behind PEPE, the newest sensation in the crypto market, older cryptocurrencies with strong communities like BabyDogeCoin may see a revival of interest from speculative traders.