Baby Dogecoin is here and Elon Musk is again tweeting about dog-themed cryptocurrencies. Baby Doge claims to have learned a few tricks from its father and be an upgraded version of the largest meme coin.
Another meme coin takes flight: Where is Baby Doge headed?
Elon Musk could be considered the king of meme coins. He loves to talk and tweet about them and has been at the forefront of promoting Dogecoin.
Just a few hours ago Elon tweeted, ‘Baby Doge do do do do do.’
The tweet is Elon’s cover version to the children’s song ‘Baby Shark Dance.’
Whenever Elon tweets about cryptocurrency the crypto community responds. Some are big fans and join him in their love for meme coins. Others are furious at him for promoting coins that they claim ‘don’t have a real purpose.’
Regardless, Elon loves to use his Twitter to let people know what meme coins are his favourites.
Dogecoin v Baby Doge: How does Baby Doge fair against it’s father coin?
While they are both dog related meme coins, Baby Doge has a lot of different features to its father coin.
Firstly, Baby Doge tackles the major issue Dogecoin faces with Inflation. Baby Doge is instead hyper deflationary and is burning large amounts of it’s supply.
Baby Doge rewards it’s holders just for holding. 5% of each transaction is redistributed to token holders. This is a feature added by a lot of new meme coins to promote long term holding of the token.
Baby Doge founders created a charity wallet. This also receives some of the transactions fees. This will allow Baby Doge to give back to the community, donate to dog-related charities, and save dogs worldwide.
A look into the tokenomics of Baby Doge
Baby Doge already has a market cap of over 500 million USD. It has a total supply of over 420 trillion, however, this is deflationary and constantly being burnt. The developers have a ‘burn’ wallet which holds 30% of the total supply.
Baby Doge has high transaction fees but for multiple reasons. Primarily to promote the long term holding of the coin, holders receive a share of all transactions. The transactions fees also go back towards liquidity and part of the sums go to the charity wallet.
Baby Doge also has a long and ambitious road map. It contains 6 stages and it’s still just in stage 1. There’s potentially a lot more to come from Baby Doge if public interest remains high. Read more here:
Watch out, I noticed there are lots of copies or similar named coins to Baby doge. So make sure you always do your own research before obtaining any coins.
Please note: Our publications do not offer investment advice and nothing in them should be construed as investment advice. … The information contained in our publications is not, and should not be read as, an offer or recommendation to buy or sell or a solicitation of an offer or recommendation to buy or sell any securities.
In other news, Who is Shane Porter? Kansas State football player sends TikTok wild with viral lip-sync video!
Discover more from Today Headline
Subscribe to get the latest posts to your email.