What is Baby Doge in this guide? We will answer the questions of who created it and how it works.
Baby Doge Coin is an internet prank (meme) based cryptocurrency that emerged with the goal of being the “child” of the original Dogecoin (DOGE). Various cryptocurrencies have been developed that hope to replicate the massive price increase of the Dogecoin currency in the years 2020 to 2021. Many projects, such as Baby Doge Coin and Shiba Inu, aim to generate high returns for investors by creating cute cryptocurrencies based on internet jokes. Baby Doge Coin hopes that its price will jump up like its predecessor by speeding up transaction times as well as giving users a certain percentage of each transaction fee.
Baby Doge Coin follows a six-stage roadmap to push the token value as high as possible. The project also aims to provide greater security to the community of locked-in liquidity users. In this context, it attaches importance to the values of transparency, trust, longevity and community. They want to involve the community as much as possible and third party controls have been implemented to eliminate fraud concerns such as “rug pull”.
Like other prank-based cryptocurrencies, here, too, the founders did not bring themselves to the fore. However, it turned out that the developer of the project is Christian Campisi, the founder of Pawz.com and his heart to fundraising activities for pet needs. According to Christian, other members of the core team will be announced once the project is fully operational.
- Max Supply: 420,000,000,000,000,000
- Total Supply: 420,000,000,000,000,000
- Circulating supply: 268,383,459,889,719.070 BABYDOGE
- Market cap: $1,011,177,157 (January 11, 2022)
Who is BabyDoge Founder?
As with other “meme”-themed cryptocurrencies, it hasn’t been revealed exactly who the developers and team behind BabyDoge are. The developers chose the Binance Smart Chain infrastructure to create an ecosystem to be compatible with the Ethereum network.
Could BabyDoge Be 1 Cent?
BabyDoge, like other “meme”-themed cryptocurrencies, has a huge supply of 420 quadrillion coins. This gave early investors the chance to purchase large portions of the supply. Strategies such as coin-burning that would make tokens more scarce and valuable could increase in value as they become more adopted than others.
How Does Baby Doge Coin Work?
Baby Doge Coin is in the expanding space of the cryptocurrency market, which includes a large number of dog-themed digital currencies. The adoption rate of these token options depends on how much value they can provide to their investors. Therefore, each project tries to provide attractive benefits to users such as awards, airdrops and gift distribution. Baby Doge Coin; It hopes to convince more users with its new features such as distribution of revenue from transaction fees to users, value increases due to burnt supply, and DEX and NFT platforms.
Like many of the new “meme”-themed cryptocurrencies, BabyDoge was developed on the Binance Smart Chain. In this way, the project stands out for its low Gas fees and block times, as well as 10 times faster than Dogecoins, as stated in its white paper (Wofpaper). Thus, while some of the transaction commissions are given to the users, the fees on the network can be minimized. The BabyDoge token describes itself as “hyper-deflationary” as it will be burned both automatically and manually over time. Other key token economy data users will access include:
- 5 percent of every 10 percent fee will be redistributed to BabyDoge owners
- 2.5 percent of the fees will be sold and added to the liquidity pool as Binance Coin (BNB).
- 2.5 percent of fees will be paired with BNB to create a liquidity pair on the PancakeSwap DEX
In addition, the Baby Doge Coin team has already burned 30 percent of the original supply and will burn another 5 percent with each redistribution process. All of this to achieve a similar success with the Dogecoin project. As a result of the very low starting price, they hope to offer a structure where investors can purchase millions of tokens if they wish and generate huge revenue once the BabyDoge price exceeds the critical threshold of $0.01.
Why is Baby Doge Coin Different?
Baby Doge Coin; It seems to have a similar price approach when compared to dog-themed currencies with many alternatives such as the Shiba Inu, Alaska Inu, Doggy, CyberDoge and Mini Shiba. However, it has critical features that differentiate it from its competitors by reaching a large following on social media and having 250,000 investors in its first 21 days. Static rewards and a coin-burning system can be considered standard features for this type of cryptocurrencies, but may prove successful as this is the first time it has been tried in the “meme”-themed crypto space.
Future plans for Baby Doge Coin include an ecosystem with a decentralized exchange, cryptocurrency-powered payment card, “meme” and NFT marketplace. In the process, they will also donate to pet charities.
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