I. What is Baby Dogecoin?
Baby DogeCoin (BABYDOGE) is a new cryptocurrency token created by fans of the popular Dogecoin online community. The name is probably an attempt to rise above Dogecoin’s cult parent platform. Baby DogeCoin does not have any underlying technology or utility.
Unlike Dogecoin which is derived from its own blockchain, Baby DogeCoin is a token without its own blockchain, it is run on Binance Smart Chain. Baby DogeCoin operates a smart staking system designed to reward HOLDers by adding more BABYDOGE to their wallets every time another user completes a transaction.
II. Mission of Baby Dogecoin
BabyDoge coin was born not to compete with DOGE, nor for the purpose of becoming the top 1 among meme coins. Its mission is to focus on charity. Specifically, according to the whitepaper, the coin is seeking to fulfill its mission of “rescuing dogs in need.”
The project has a charity wallet that accounts for 2.2% of the total supply of Baby DogeCoin. This wallet receives 2.2% of the 5% transaction fees distributed to existing token holders. The funds in this charity wallet will be reserved for Baby DogeCoin charity partners. To date, the Baby Dogecoin team has raised $75,000 for The Humane Society, ASPCA, Paws with Cause, North Shore Animal League and other charities that benefit dogs.
According to the official Baby Doge Coin website, it is a “new cryptocurrency born by fans of the online Dogecoin community.” But who are these fans? Unofficial sources claim the creator of this coin meme is Christian Campisi, an environmental philanthropist with a passion for dogs.
Meanwhile, Dogecoin is a meme coin that was first born in 2013, and has created a meme coin trend that has lasted until now. Compared to Dogecoin, in addition to being newer, Baby DogeCoin is also 10x faster when it comes to transaction processing times.
Other than the similar name, there is nothing connected between Baby Doge Coin and Dogecoin. It is likely that the choice of naming Baby Dogecoin was just a way to attract attention.
III. Striking Features of Baby Dogecoin
Baby Doge is decentralized and supported by a community of crypto enthusiasts. The project encourages open communication and believes that trust, transparency and community are 3 important factors affecting the future development of the project.
Baby Doge is one of the fastest growing and most loved communities in the cryptocurrency market. Baby Doge is trying to grow its community even more through communication channels and Telegram groups dedicated to each investor community around the world.
In the cryptocurrency market, investor confidence in the project is paramount. Trust comes not only from the transparency of the project but also in the security measures. Baby Doge has been audited by Dessert Finance and CertiK and has burned and locked most of its LP tokens.
Baby Doge is in long-term development. The project is focusing on developing and perfecting its product in an effort to promote real use cases and give more rewards to users.
IV. Core Technology of Baby Dogecoin
Baby Doge is operated on the BNB Chain network. Compared to Dogecoin, Baby Doge has 10 times faster transaction speed. Baby Doge is a token with a unique deflationary mechanism that makes it more scarce over time. Baby Doge’s hyper-deflation will charge 10% per transaction when using BABYDOGE. 10% will be divided into 2 parts as follows:
- 5% fee will be distributed automatically to all wallet holders. This means that all BABYDOGE holders will earn more tokens simply by storing BABYDOGE in their wallets.
- 5% fee will be transferred to BABYDOGE liquidity pool at PancakeSwap.
Currently, the Baby Doge team has burned 30% of the initial supply. The project also said that currently more than 41% of BABYDOGE wallets have been inactive for a long time. This means that every 5% of tokens redistributed will automatically be “burned” by 41%. In addition, the project also maintains a charity wallet whose revenue is tokens distributed from transaction fees. This wallet is used to support charities that are partners with the project.
However, building a fee model for the sale of this coin is not necessarily good. Because of that, it also prevents many people from buying BABYDOGE, simply because they are afraid of the cost when they want to sell them. The truth is that the coins that run this model all suffered a sharp drop in price. So, charging does not bode well for Baby Doge Coin.
V. What is BABYDOGE?
1. Detailed Information about BABYDOGE
- Token Name: Baby DogeCoin
- Ticker: BABYDOGE
- Blockchain: BNB Chain
- Token Standard: BEP-20
- Contract: 0xc748673…02e8de
- Total Supply: 420,000,000,000,000,000,000 BABYDOGE
- Circulating Supply: 159,278,394,658,793,747 BABYDOGE
2. BABYDOGE Allocation
- Coin burn: 30% (125,000,000,000,000,000,000 BABYDOGE)
- Circulation: 70% (295,000,000,000,000,000,000 BABYDOGE)
3. BABYDOGE Noticeable Milestones
Another thing that Baby Doge Coin has in common with other new cryptocurrencies is its huge supply and low price. Here are some of the ups and downs of Baby DogeCoin since its launch, based on data from CoinGecko:
- The earliest recorded opening price was $0.0000000000175 on June 9, 2021.
- It then rallied to $0.000000002014 on June 24 – a 1.050% increase.
- By the next day (June 25), it had dropped to $0.0000000799 – a 60% loss.
- On July 1, Elon Musk posted a tweet alluding to Babydoge Coin. In just 24 hours, the price of the baby doge coin skyrocketed by 228.3%.
- Of course, the Elon Musk event isn’t the first spike for BABYDOGE. It also increased 22% in February 2022 when it was listed on the Huobi cryptocurrency exchange, or on BABYDOGE’s 1-year-old birthday on June 1, its price also increased sharply.
- The most recent spike occurred in the second week of August 2022, following a cryptic tweet from the @BabyDogeCoin Twitter account. The tweet said a big announcement was coming, leading followers to suspect a listing on Binance was imminent.
4. Use Cases of BABYDOGE
The developers of Baby DogeCoin created it to be a “funny meme with a serious mission to rescue dogs in need. However BABYDOGE is also commonly used as a reward, buy NFT, decentralized exchange on Babydoge’s website.
However, although the listing on CoinPayments allows Shopify, WooCommerce, and Magento merchants to accept BABYDOGE as a payment method, the Babydoge Dogecoin organization does not say how many – or if any – merchants accept it.
So what can you do with the BABYDOGE coin? Not much, other than hoarding or using it to trade for profit. People who hoard BABYDOGE coin are usually people from the DOGE community, passionate dog supporters, or people who put a very small amount of capital in the belief that BABYDOGE will increase sharply in the future (see it as an opportunity). lottery association).
VI. How to earn & own BABYDOGE?
Currently, BABYDOGE is being traded at many different cryptocurrency exchanges such as PancakeSwap, OKX, MEXC, Huobi, Gate.io… If you want to buy a small amount to experience, you should buy BABYDOGE on exchanges. concentrated translation to avoid price slippage.
BABYDOGE is a token according to the BEP-20 standard. So you can store them in popular wallets like Trust Wallet, MetaMask, Binance Wallet, etc. Alternatively, you can also store it directly on the wallet of the exchange where you purchased BABYDOGE.
VII. Which Crypto Wallets are suitable for BABYDOGE?
Because BABYDOGE is a BEP-20 token, you can store this token at wallets: Coin98 wallet, Trust Wallet, Metamask, exchange wallet.
VIII. BABYDOGE Recent Developments
Baby DogeCoin Ecosystem and Roadmap
- Baby’s whitepaper pretty much outlines the goals. Some are completed and quite serious, such as:
- Baby Doge Swap – The project allows decentralized swapping of tokens on the platform website.
- Baby Doge Card Pay – This is a direct crypto payment feature, the first application for meme coins.
- Baby Doge Paw Wallet – This is a project-specific rewards tracking wallet. The wallet can aggregate wallet balances, coin valuations, etc.
- Baby Doge NFTs – An important feature of the project that helps users create and buy/auction NFTs related to dogs.
- Baby Doge Swag – A boutique that offers designer goods for BABYDOGE owners. The money earned will be used to help more dogs.
IX. Teams, Funds & Partners of BABYDOGE
Similar to meme-trending crypto projects, Baby Doge Coin has not yet announced the development team information. So far, it remains unknown who is responsible for Dogecoin’s “child” project. It is well known that Baby Doge Coin’s developers utilized a feature of Binance Smart Chain to build an ecosystem compatible with the Ethereum network (BSC).
2. Investment Funds & Partners
X. Where can BABYDOGE information be updated?
Currently, Crypto users can fully consult, research, and analyze information about BABYDOGE through famous media newspapers such as Nasdaq, Bloomberg, Forbes, AP News, Yahoo!Finance, CoinTelegraph, Coindesk, etc.
These media are constantly updated with useful information, new activities, outstanding events of BABYDOGE and all the topics surrounding it. Accordingly, Meta Lion Ventures continuously updates the topic of outstanding projects in Blockchain and hot events organized between Meta Lion & partners.
XI. FAQs about Baby Dogecoin
Currently, Crypto users can fully consult, research, and analyze information about Baby Dogecoin through famous media newspapers such as Nasdaq, Bloomberg, Forbes, AP News, Yahoo!Finance, CoinTelegraph, Coindesk, etc.
These media are constantly updated with useful information, new activities, outstanding events of Baby Dogecoin and all the topics surrounding it. Accordingly, Meta Lion Ventures continuously updates the topic of outstanding projects in Blockchain and hot events organized between Meta Lion & partners.
DogeCoin competitor Baby Doge is a meme coin project that is based on Binance Smart Chain. You should have a good understanding of the project after reading this article to be able to make your own investing decisions.
The above is Meta Lion’s comment on the Baby Dogecoin project which is our personal opinion, this is not investment advice at all. Investors should be responsible for their own decisions.