Baby Doge, or BabyDoge, is a meme token created in 2021 as a spinoff from the leading memecoin Dogecoin. Although inspired by Dogecoin, unlike its inspiration, BABYDOGE is a BEP-20 token designed on the Binance Smart Chain, now BNB Chain.
Baby Doge aims to offer improvements over Dogecoin - the original joke-based cryptocurrency, focusing on hyper-deflationary tokenomics to increase transaction speeds over time. It is one among several meme tokens in the crypto market but has amassed a significant following and engagement from its community since its launch. In just 21 days since its inception, Baby Doge Coin achieved a historic milestone by exceeding 100,000+ holders.
Baby Doge was created to offer higher transaction speeds and block times of five seconds that could drive mainstream adoption of digital currencies to make payments. In addition, the meme coin has a charitable angle as it aims to help save dogs in need while driving the use of crypto as a mainstream digital payment method.
The Baby Doge crypto meme carries a significant purpose: aiding dogs in distress and promoting mainstream cryptocurrency adoption through innovative approaches like rewards, NFTs, decentralized exchanges, and crypto payment-enabled credit cards on its website.
Baby Doge allows holders to earn passive income by passing on 5% of fees from every on-chain transaction conducted within the ecosystem. This way, its community - the Baby Doge Army, receives more tokens whenever more transactions occur.
Apart from being a cheap and fast way to make digital payments using crypto, the Baby Doge ecosystem offers several other services and use cases, including:
Baby Doge has established genuine utility for its holders by offering the lowest swap fees on BNB Chain through Baby Doge Swap. It is one of the first meme tokens to provide a live swap service directly on its official website.
The meme coin’s official NFT collection, Baby Doge Army NFT, helped raise funds for the crypto’s partners to save dogs and provide them with better lives. The collection is available on OpenSea.
The mobile app will let BABYDOGE holders load fiat balances via bank transfer and exchange and transact tokens. As of April 2023, the card is awaiting completion by a third-party provider and is yet to launch.
Baby Doge was launched in June 2021 and enjoyed a price spike of 1,000% within two weeks. By the third week, the BABYDOGE market cap had touched $200 million, and a week after that, the number of token holders exceeded 160,000, making it one of the fastest-growing communities in the crypto market.
A month after its launch, the meme coin received support from Tesla CEO Elon Musk, who tweeted about the project and sent its popularity soaring.
Within the first 21 days since launch, Baby Doge raked up over 85,000 members on Telegram, 85,000 Twitter followers, and 45,000 followers on Instagram. The token became a trending hashtag on Twitter shortly after its launch and was also featured among the trending tokens on CoinMarketCap.
As of April 2023, the Baby Doge coin community has donated over $750,000 to various charities for saving dogs. This includes a $100,000 donation to Best Friends Animal Society in August 2022.
BABYDOGE is among the more popular meme tokens in the crypto market, ranking sixth in the category in terms of market cap as of April 2023. You could consider investing in this token if you believe in the potential of memecoins or wish to support the charitable causes backed by the Baby Doge Army.
The BABYDOGE price could strengthen when the project’s developers add more services to its ecosystem. This would encourage on-chain activity, driving up opportunities for the community to earn rewards and encourage more investors to hold BABYDOGE tokens.
The price of Baby Doge coin could also experience an uptrend when the crypto market trades bullish. A risk-on sentiment encourages investor confidence in meme tokens, increasing buying activity and supporting the BABYDOGE price statistics in the market.
One of the most significant factors that keep the price of BABYDOGE low is its extremely high circulating supply, which stands at over 115 quadrillions as of April 2023. Although the Baby Doge developers have implemented token-burning mechanisms, the value of Baby Doge could rise to the critical level of 1 cent only when the supply reduces significantly.
While providing a reliable Baby Doge coin price prediction is unattainable, the following crucial elements may impact the price fluctuations of the BABYDOGE token:
When the project’s developers introduce new use cases for $BABYDOGE or roll out new services and applications within the Baby Doge ecosystem, the demand for the token could increase. This could boost investor interest in buying and holding BABYDOGE coin, supporting its value in the market.
Favorable market sentiment toward cryptocurrencies in general and the memecoins, in particular, could support the BABYDOGE value in the market. A bullish sentiment can support the BABYDOGE to USD price, while a bearish mood could drive selloffs, weakening the price of Baby Doge token.
BABYDOGE has the following use cases:
Use BABYDOGE to conduct transactions, including sending and receiving payments and buying goods and services online. You can also use BABYDOGE to make payments to support charities that accept donations in this token.
Trade Baby Doge crypto against other digital assets to profit from changing market conditions and volatility. BABYDOGE/USDT is a popular trading pair on the KuCoin Spot Market if you want to trade this token. Remember to DYOR before placing a trade, as crypto assets are subject to high market risks and unpredictability.
Unlike DOGE, which is the native token of a PoW blockchain Dogecoin, it is not possible to mine Baby Doge. This is because BABYDOGE is issued as a BEP-20 token on the BNB Chain and is not a native token of the blockchain network. However, you can earn BABYDOGE in the following ways:
HODL BABYDOGE in your wallet to become a part of the Baby Doge community and receive rewards from fees generated via on-chain transactions in the ecosystem. 5% of each transaction is added to a BABYDOGE liquidity pool to generate higher rewards, while 5% gets redistributed among token holders, helping you grow your portfolio simply by holding BABYDOGE in your crypto wallet.
The official DeFi app of the Baby Doge ecosystem offers several ways to earn BABYDOGE, including LP token farming and liquidity pools. Use this DeFi app to put your tokens to work and generate passive income.
Third-party wallets and DeFi apps also support BABYDOGE staking. Perform online research to find a reputed platform that supports BABYDOGE staking and compare the APYs on offer before you lock your tokens.
MetaMask is one of the most popular web3 wallets in the crypto market, and it supports BABYDOGE. Here’s how you can add Baby Doge coin to MetaMask:
1. Download MetaMask and create an account if you are a new user. Ensure that your network is set to Ethereum Mainnet.
2. Click the Import Custom Token button. Enter the following in the Token Contract Address box: 0xAC57De9C1A09FeC648E93EB98875B212DB0d460B and set BABYDOGE as the Token Symbol.
3. Click Add custom token to confirm. You should now see BABYDOGE among the listed assets on your MetaMask wallet homepage.