DOGECOIN’S success in 2021 has spawned a flurry of new dog-based meme tokens.
But what is Baby Doge Coin and where can I buy it?
What is Baby Doge Coin?
Baby Doge Coin is a meme coin similar to Dogecoin and Shiba Inu.
It launched in 2021, with a total supply of 420 quadrillion tokens, and initially cost just $0.000000000175.
It is currently held in more than 300,000 wallets.
Although Baby Doge Coin had an initial supply of 420 quadrillion tokens, almost 50 per cent (180 quadrillion) of the tokens have been burnt, meaning they are no longer in circulation.
The development team also continues to burn tokens monthly which help manage the supply and increase demand.
Baby Doge Coin is a BEP-20 crypto token and was built on the Binance Smart Chain (BSC).
One of the benefits of the BSC is its speed and efficiency with transactions happening in under 5 seconds.
Transaction fees for Baby Doge Coin are incredible high, however, at 10 per cent for every trade.
If you want to sell 1 million BABYDOGE, you’ll pay $100,000 for the transaction fee.
5 per cent of that goes back to all the existing holders and the other 5 per cent is split in half.
2.5 per cent remains Baby Doge Coin, and the other 2.5 per cent is converted into Binance Coin.
Both tokens are then deposited to a BABYDOGE/BNB liquidity pool on PancakeSwap – a decentralized crypto exchange.
This helps keep the pool funded so users can trade between Baby Doge Coin and Binance Coin.
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According to its website: “Baby Doge seeks to impress his father by showing his new, improved transaction speeds and adorableness.”
Baby Doge Coin’s alleged aim is to bring cryptocurrency to the average person and help dogs in need with the team behind the coin donating to several animal charities.
Who founded Baby Doge Coin?
There isn’t any information about the development team on the official website or in the white paper but the founder is reported to be Christian Campisi, who also created Save Lands and Pawz.
Campisi uploaded a video addressing the Baby Doge Coin community and calling himself the founder of the cryptocurrency in July 2021.
Can I make passive income holding Baby Doge Coin?
As a token holder, you receive reflections, which are a share of the fees charged on every transaction.
Just by owning Baby Doge Coin, the balance in your blockchain wallet will increase.
How to buy Baby Doge Coin?
You can buy Baby Doge Coin on PancakeSwap.
- Purchase Binance Coin.
- Transfer your Binance Coin to a blockchain wallet such as Metamask.
- Go to PancakeSwap and connect your wallet.
- Go to the Swap page and exchange your Binance Coin for Baby Doge Coin.
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Is Baby Doge Coin a good investment?
No.
Despite rocketing in price in 2021, it has no competitive advantages or unique features over other cryptocurrencies and its website and white paper are riddled with capitalization and grammatical errors.
Baby Doge Coin is designed to make money for its founders.
