Baby Doge Coin (BABYDOGE) has been maintaining a steady and strong price action in the last few weeks. For instance, in the last seven days alone, the fast-rising meme coin has tallied an impressive 124% increase – a feat not all of its rivals can match in any given period.
Baby Doge still dominates other dog-themed cryptocurrencies such as Dogecoin (DOGE), Shiba Inu (SHIB), and BoneShibaSwap (BONE) in the 24-hour performance department.
At the time of writing, Baby Doge is trading at $0.000000003535, up nearly 2% in the last hour, according to data by Coingecko.
BABYDOGE has so far tighten its grip on the monthly charts, with an unrelenting 268% lock which the crypto may hold on to in the next few weeks, according to some analysts.
Baby Doge Coin Enjoys Positive Sentiment
The aggressive run of the meme coin is due to the favorable feeling surrounding the coin as it continues to be listed on multiple exchanges.
OKX Exchange was the most recent exchange to implement support for Baby Doge Coin, integrating BabyDogeSwap into the OKX Wallet and Discovery Page.
The official Baby Doge Coin team praised the collaboration, noting that OKX has 20 million users in more than 100 countries.
The increase in price also stems from the fact that the team behind the meme currency burnt 682 trillion BABYDOGE, valued at around $1,091,200.
682 trillion #BabyDoge was burned forever worth estimated $1,091,200 🔥
Swap buy back & burn 2.6 trillion #BabyDoge 🔥
— BabyDogeSwap.com LIVE (@BabyDogeCoin) February 1, 2023
Burning is the process of removing tokens from circulation permanently by transferring them to an unreachable wallet address.
This creates a shortage in the coin supply because it becomes nearly impossible to reclaim the tokens.
New Features And Partnerships
The team behind Baby Doge Coin is also continuously creating new features and collaborations, with a focus on increasing its reach and utility for consumers.
Baby Doge Coin is a cryptocurrency derived from the popular meme-inspired cryptocurrency Dogecoin.
It was designed to bring a new perspective to the world of cryptocurrencies, with an emphasis on community and user involvement.
The initiative intends to provide a user-friendly and entertaining platform for digital currency transactions and investments.
Baby Doge Coin operates on a decentralized network, which means that transactions are handled and validated by a network of users as opposed to a single authority.
This enhances security and reduces the likelihood of fraud or hacking. In addition, Baby Doge Coin offers a quick transaction processing time and minimal transaction fees, making it an excellent option for people who wish to conduct transactions swiftly and cheaply.
Crypto total market cap at $1 trillion on the daily chart | Chart: TradingView.com
The development of Baby Doge Coin is supported by a large and committed community of programmers and fans.
Baby Doge Coin is being accepted by an increasing number of users and shops as a form of payment.
Baby Doge Coin has the potential to become a major participant in the cryptocurrency market due to its strong emphasis on community, fun, and accessibility.
Featured image by The Motley Fool