Baby Doge BABYDOGE Gets Listed on KuCoin!

As a hyper-deflationary token, baby doge coin has been designed to become more scarce over time. Baby Doge, a new cryptocurrency created by fans of the Dogecoin online community, has taken inspiration from its “meme father” to improve its transaction speeds and functionality. The coin is designed to be hyper-deflationary, with static reflection that rewards holders with additional coins being automatically added to their wallets after each transaction. First, set up a digital wallet, such as the Coinbase Wallet or Metamask, and connect it to an exchange that sells a base currency you can later exchange for baby doge. On PancakeSwap, for example, you can trade binance coin for baby doge coin, so you might purchase binance coin as your base currency.

Then, on PancakeSwap or another decentralized exchange, you connect your wallet and swap your base currency for baby doge. Simply Love, pet, and hold as 5% from each transaction is automatically redistributed to baby doge holders. Baby Doge primary utility is building a fun meme community to spread awareness of animal adoption. Baby Doge has also created real utility for all holders to receive the lowest swap fees on BSC on Baby Doge Swap. By demonstrating his better transaction speeds and cuteness, Baby Doge hopes to impress his father i.e., Dogecoin. Babydoge coin is hyperinflationary, with a static reflection that rewards holders; as a result, each transaction adds extra baby doge coins to your wallet.

Baby Doge Price Analysis Chart

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offers Today. Whether the tokens are connected or not, the fact that there’s an almost identical project doesn’t reflect well on Baby Doge Coin. It’s more evidence that there’s nothing notable about either of these tokens, and that the only real goal is to launch one that manages to go viral. The Baby Doge Coin team has also secured a couple of sports partnerships. In July 2021, it began sponsoring NASCAR driver Brandon Brown.

How do I trade, convert or sell Baby Doge Coin?

Also, it’s pretty obvious that the developers have named it baby doge coin to leverage the popularity of dogecoin. Some have made the argument that baby doge compares favorably to dogecoin in that dogecoin has no cap on its coin supply. However, a coin with no practical utility and a cap of 420 quadrillion coins can hardly be considered scarce — even after nearly half have been burned. How to buy baby dogecoin Bitcoin, for example, has true scarcity — its cap is 21 billion coins, over 19 billion of which are already circulating. Many of the offers appearing on this site are from advertisers from which this website receives compensation for being listed here. This compensation may impact how and where products appear on this site (including, for example, the order in which they appear).

Although Baby Doge Coin had an initial supply of 420 quadrillion tokens, almost 43% (180 quadrillion) were burned, which means they were destroyed. Since then, the development team has continued burning tokens monthly. These burns are a way to manage the supply and potentially increase demand, but they don’t always coincide with price increases. The main gimmick of Baby Doge Coin is a 10% fee on every trade. If you want to sell 1 million BABYDOGE, you’ll pay $100,000 for the transaction fee.

Baby Doge Coin Price Summaries

However, investors aim to hoard the coins and reap the rewards if and when it reaches a dollar. Prices surged again in time for baby doge’s first birthday on June 1. The @babydogeburn_ Twitter account noted on that day that 29.7 quadrillion tokens had been burned over the previous 24 hours. It does not come as a surprise to anyone that baby doge coin is creating so much hype.

• Baby Doge, a new cryptocurrency created by fans of the Dogecoin online community, has taken inspiration from its “meme father” to improve its transaction speeds and functionality.
• The coin has sponsored many organizations that look after dogs in need.
• By the third week, it had a market cap of a whopping $200 million, and in the fourth week, there were 160,000 holders of the coin.
• Similar to other assets, the price of Bitcoin is determined by the number of buyers and sellers in the market at any given time.
• Binance is the best choice when it comes to trading Baby Doge Coin with stablecoins.

With that in mind, it’s best to stay wary of dogecoin’s new offspring. Alternatively, you can open a trade on the spot market which allows you to set your own price – this is the most common way to purchase cryptocurrency. Using the instant buy feature is straightforward but typically more expensive than using the spot market.

Connect your wallet to PancakeSwap

Which path you choose will come down to your level of experience and your investment goals. Start by selecting a safe and regulated platform to sign up with. You may need a photo ID and proof of address to verify your account. See further down this page for a comparison of the best platforms, or simply sign up with our top recommendation right here.

• Cryptocurrencies can fluctuate widely in prices and are, therefore, not appropriate for all investors.
• For mobile, a compatible app such as Coinbase Wallet could be the easiest to use.
• According to the “Woof Paper,” the goal of Baby Doge Coin is bringing crypto to the average person and helping dogs in need.
• Also like Baby Doge Coin, Kabosu donates to animal charities.

The catch is; even when the price of Baby doge falls, you won’t be affected much because you earn tokens. It is believed that Christian Campisi, the founder of Save Lands and Paws, is the father of this coin. Initially, about 420 quadrillion tokens were launched in the market, out of which 180 quadrillion coins were exhausted. The monthly destruction of BABYDOGE coins is done by the backend team; in order to maintain the demand and balance the supplies. However, note that this action doesn’t always affect the Baby Doge Coin price. As is evident, the price is not very promising since it is just a tiny fraction of a single penny.

How is the price of BABYDOGE determined?

So, as time goes on, the rich get richer, and those at the bottom of the pyramid make pennies from this “smart staking system”. When you buy BabyDoge, you will not be paying for the market value of the coin alone. There will be additional costs like deposit fees, withdrawal fees and transaction fees that will come into play. There may be a variance in the exchange rates at different platforms too. Though all such factors are usually neglected during the buying activity, they can significantly impact your overall costs, especially if you buy or trade crypto in huge volumes.

If you want to trade yours, then you’ll be charged 10% of the transaction. Baby Doge Coin isn’t the first crypto token to do this since several new cryptocurrencies launched in 2021 with the same type of fee. Many holders who own other cryptocurrencies receive a share of the transaction fee charged on each transaction. So, honestly, there’s nothing new worthy of grabbing the limelight. Any wise investor would have a hard time taking this coin seriously.

Sentiment arising from the community, rather than the token’s utility, is what gives baby doge coin value. Finder.com is an independent comparison platform and information service that aims to provide you with the tools you need to make better decisions. While we are independent, the offers that appear on this site are from companies from which finder.com receives compensation.