These days, the cryptocurrency world is going up and down on the words of Elon Musk. Not long ago, Elon Musk again drew everyone's attention to this currency by publishing tweets about a new currency. The cryptocurrency introduced and made famous by Elon Musk is called Baby Doge.
The Twitter message that Elon Musk published on his personal page reads as follows:
Baby doo, doo, doo, doo, doo, doo,
Baby doo, doo, doo, doo, doo, doo,
Baby doo, doo, doo, doo, doo, doo,
Baby dodge
This text is taken from a children's song that directly refers to this cryptocurrency.
Improving the recovery rate, creating a staking system and deflation, it intends to influence its parent, Dogecoin.
The emergence of Baby Doge digital currency
About a month ago, the Baby Doge cryptocurrency was launched on the Binance platform. The support and innocence that the meme has this wish for, makes them attract many fans and supporters within a month. But, this volume of fans is not only because of the mention, but they have a large number which will be explained in detail below.
Baby Dodge wants to complete the features of its father, Dodge Coin. In fact, by improving the recovery rate, creating a staking system and deflation, it intends to influence its parent, Dogecoin. The purpose of this currency is to help the charity Musat to save homeless dogs. At the beginning of BabyDog's activities, the project team burned 20% of its tokens, causing a decrease as a result of the price increase.
The price of this newly born currency was recorded at around $0.0000001 on July 7.
Which exchanges support Baby Doge Coin?
If you don't know which exchange to buy this currency, the table below indicates several exchanges that support this currency, and by clicking on the registration of the selected exchange, you can name and buy Arezzo Baby Dogecoin.
Baby Doge cryptocurrency performance
BabyDog follows the Yield Farming platform, which is a pyramid scheme. The function of this currency is that, every time a user makes a transaction using Baby Dog, 10% of the transaction cost is deducted from him and distributed among other investors. This division is also in such a way that any investor with more capital receives a larger share. As a result, investors are added to the capital and the people at the bottom of the pyramid get more coins.
What is the difference between Dog Coin and Baby Dog?
This question may concern most people, why are the names of these two currencies so similar? Are these two digital currencies related or not? In the rest of this article, we will explain the differences between these two digital currencies.
Baby Doge technically has nothing to do with Dogecoin. Dogecoin is a cryptocurrency that has its own blockchain, while BabyDog is a token that operates on another blockchain. Dogecoin is a fork of Litecoin that is extinct. Litecoin is one of the top currencies in the digital currency market. Meanwhile, Baby Doge operates as a BEP-20 token on the Binance chain. As a result, the Baby Doge is technically very similar to the Shiba Inu.
Future prediction of baby doge digital currency price
According to meme coin projects, it is somewhat impossible to predict the price of this currency and its future. Because, until now, its growth has been based on emotions. Also, because of the lack of analysis fundamentals to interpret this newborn currency, it will be much more difficult to predict the trend of BabyDog than others. But, also consider that if the cryptocurrency goes according to the statements of managers and programmers and is registered in reputable exchanges, it will make significant progress.
Technical analysis of Baby Dog digital currency
As long as the price is above the green line, there is a possibility of price growth up to the red line. Note that the risk of buying Bitcoin currencies is high.
Should we buy Baby Dodge or not?
In general, caution should be exercised when investing in the digital currency market. In fact, all the fundamental flaws that dogecoin has faced have also been found in baby dogecoin. Investing and buying digital currency depends on the person's interest and choice, and this makes the relationship of that currency with the person. It is the same with BabyDog currency, if you like Dogecoin for any reason, then BabyDogCoin can be your favorite too.
Therefore, it is not possible to provide an accurate analysis of Baby Dodge currency. Baby Dogecoin has fundamental problems that cannot be recommended for long-term investment. Therefore, to buy cryptocurrency, pay attention to the following points:
- You should not spend all your capital to buy digital currency, it is suggested to enter only a part of your capital to buy digital currency.
- Do not look for long-term investment in the cryptocurrency market.
- Considering the advantages of Baby Dogecoin compared to Dogecoin, it is possible to earn profit through transactions that take place in the network.
Baby Dogecoin had the chance to be backed by the most powerful person in the crypto world
Baby Dogecoin roadmap
A 5-step roadmap is included on Baby Dogecoin's official website. Now this currency is in the first stage or the emergency phase. The objectives of the first and second phases are advertising. It is noteworthy that the dates are unknown and only the order of these phases is specified on the site. Among the most important goals of these 5 phases, the following can be mentioned:
- Being listed in Coin Gecko and Coin Market Cap in phase 2 (accomplished)
- Release of NFT in phase 2 (achieved)
- Two airdrops in phase 3
- Credit card issuance in phase 3
- Decentralized BabyDogcoin exchange launch in phase 5
- Listing in most centralized exchanges
- Reaching 300,000 long-term investors by phase 5
- Increase in charitable donations up to $350,000 to $750,000 to help dog shelters in phase 5.
The cause of Baby Dodge's growth
Since its arrival, Baby Dogecoin had the chance to be backed by the most powerful person in the crypto world, Elon Musk.
In general, among the main reasons involved in the development and increase in popularity of Baby Dog, the following can be mentioned:
- Elon Musk's support for Baby Dogecoin;
- Controversial token burning of Baby Dog Coin;
- Hot discussions on Twitter centered on Baby Dogecoin;
- Launching the Ethereum bridge of Baby Dogecoin currency and launching the Ethereum version of this currency;
- Rumors of the listing of Baby Dogecoin in the Binance exchange.
All these things caused Baby Dogecoin currency to become the most exchanged digital currency among Binance smart chain whales many times. According to the news section of the trade world digital currency, quoted by Yahoo Finance, on Monday, January 10, 2022, baby dog digital currency surpassed Ethereum in terms of the volume of transactions of Binance Smart Whale Chain (BSC) and became the most traded digital currency. By the whales of Binance Smart China.
In the following, we provide a brief description of each of these cases.
The most important reason for Baby Dodge's growth: Elon Musk's support
Baby Dogecoin launched on June 1, 2021, and received a lot of attention when Tesla CEO Elon Musk tweeted about the currency on July 1, a month after its launch.
The same day, after Musk's tweet, the price of Baby Dodge increased by 1000%! The search rate of keywords "How to buy Baby Dog" on Google increased tenfold and huge funds flowed into the Baby Dog market. Without a doubt, Baby Dogecoin became the talk of the internet overnight and almost no one wanted to be left out of the Baby Dogecoin party.
Elon Musk's involvement in Dogecoin sent Dogecoin prices soaring in 2021, and investors were hoping his tweet about Baby Doge Coin would do the same.
The reason for the growth of BabyDog: the controversial token burning of BabyDogCoin
According to Coin Market Cap, the total supply of Baby Doge Coin is 420 quadrillion Baby Doge. More than half of this has been burned out of circulation, and Baby Dogecoin currently has a circulating capital of 145 quadrillion.
Also, at the beginning of the New Year (2022), the Baby Doge digital currency support team gave a good New Year's gift to the Baby Doge community with a large token burn of five quadrillion Baby Doge tokens. Baby Dodge's support team has announced that they plan to de-cycle 4 quadrillion at the beginning of each month.
The reason for the growth of BabyDog: the establishment of a bridge with Ethereum
After upgrading at the end of November (November 2021), Baby Dogecoin became available for purchase on UniSwap, the largest decentralized Ethereum exchange, with the launch of Ethereum Bridge. A day before the launch of this bridge, the number of holders of Baby Doge currency on Binance Smart China approached one million.
The reason for the growth of Baby Dodge: the possibility of being listed on the Binance exchange
A few hours after the start of 2022, a live price page for 'Baby Doge' was opened on Binance, the world's largest cryptocurrency exchange. Even the fact that the page has a warning that the coin is "not listed for trading on Binance" didn't dampen the enthusiasm of the BabyDog community about the prospect of BabyDog being listed on Binance!
Speculations about the possibility of Baby Dogecoin being listed on the world's largest exchange have caused an increase in turnover and, subsequently, an increase in the popularity of this currency.
Is investing in BabyDog currency a good option?
Baby Dogecoin is a very new cryptocurrency and despite its popularity in the cryptocurrency market, it might be best to let it prove itself to the test of time before risking your capital.
Is it good to invest in Baby Dogecoin currency? The answer to this question depends on several factors.
- How active is the Baby Dogecoin team?
- How much of Baby Dogecoin's circulating volume is stored in the whale wallet of this currency? In other words, is BabyDog a decentralized currency?
- What is the number of Baby Dogecoin fans?
- How has the growth of Baby Dodge owners been over time?
- How has Baby Dodge's rating grown in the past year?
Comparing Shiba Inu with Baby Dog
Since the beginning of the New Year, the popularity of the Baby Doge digital currency has increased, and one of the main reasons for this increase in popularity is regular token burnings, a jump in the rating, as well as an increase in the heated discussions of retail investors around Baby Doge in cyberspace, especially on Twitter. After the token burn at the beginning of the New Year (2022), Baby Dogecoin has attracted more attention from retail investors.
There is no doubt that Shiba Inu is fundamentally better and stronger than BabyDog cryptocurrency. Because on the one hand, the supply of Shiba Inu is much less compared to Baby Doge Coin, and on the other hand, the development team of Shiba Inu has launched its own blockchain called "Shibarium". Shiba Inu has been accepted as a payment method in many businesses for some time. However, the Baby Dodge should also be given a chance to prove itself.
Baby Dodge price prediction and future
Most of the time, when we have seen the price of popular memecoins like Shiba Inu and Floki Inu fall, the price of Baby Dogcoin has been steadily rising.
Next, read the prediction of the world's popular sites and experts about the future of Baby Dog. Positive and negative predictions are reflected to give you a clear view of the future of Baby Dogecoin.
Baby Dodge Digital Price Prediction for 2023
According to DigitalCoinPrice experts, Baby Doge currency has enough potential to achieve a 50-80% price growth. According to the prediction of the Digital Coin Price site, the price of Dogecoin will achieve such growth:
- At the end of 2022: $0.0000000562
- At the end of 2023: $0.0000000636
According to the prediction model of the digital coin price site, it is likely that Baby Dogecoin will surpass the $0.00000001691 mark by 2029. The reason for this prediction is the aggregation of factors and bullish signals that the Digital Coin Price website has received from its indicators, and it is possible that this prediction will change over time.
Baby Dodge price prediction for 2024
The Crypto Academy predicts a promising future for Baby Doge Coin, citing the project's wide range of applications and Baby Doge Coin's "strong community support" as two key factors in the coin's success. According to the prediction of Crypto Academy, the price of Baby Dogecoin is likely to reach $0.000000006 by the end of 2022. However, it is doubtful that Baby Dogecoin will manage to surpass this price by the end of 2022. But the prediction of this site is growth in the coming years.
The prediction of the Crypto Academy site about the growth of the price of Baby Dogecoin:
- By the end of 2023: 2070% growth and reaching the price of $0.00000012
- By the end of 2024: 3500% growth and reach $0.00000015
Baby Dodge price prediction for 2027
Wallet Investor's website classifies BabyDog as "Not a good investment for the long term (1 year)", but Wallet Investor still does not rule out the possibility of positive growth for BabyDog. According to the prediction model of the Volt Investor site, this currency can easily earn 150% of the trader's profit by 2027. But this site warns to monitor the charts and news of this currency.
Baby Dodge price prediction for 2025
The Telegaon site also paints a bullish outlook for Baby Dogecoin and emphasizes that although the token appears to be volatile, this trend is not expected to continue. Telegan predicts this future about the price of Baby Dogecoin:
- Until 2025: 12 thousand percent growth! and reaching a price of $0.0000005
- $1 Baby Dodge Review: Is Baby Dodge Worth $1?
In the cyber space, discussions and rumors have been formed around Baby Dodge becoming one dollar. Many traders think that BabyDog currency will lose its 8 zero decimal place and most likely, it will reach the price of one dollar.
Rejecting this hypothesis does not require special technical and fundamental analysis
How likely is a dollar baby dog?
Rejecting this hypothesis does not require special technical and fundamental analysis. With only a mathematical calculation, we can see that such a claim is far from reasonable and unbelievable.
The difference between Dogecoin and BabyDog
A striking similarity between Baby Dogecoin and Dogecoin is that both currencies are dominated and backed by the most influential person on Wall Street, Elon Musk, and thus listen to the celebrity's tweets. But let's look at the difference between these two digital currencies.
While Dogecoin, along with many other cryptocurrencies, does not have a mining cap, Baby Doge is pre-mined, meaning there is no such thing as baby dodge mining. According to the Baby Doge website, this will make the Baby Doge rarer in the long run and therefore increase in value.
Baby Doge holders will receive 5% of the transaction fee as a bonus for every transaction on the Baby Doge network that is paid in Baby Doge currency. Another 5% from each transaction fee is collected by the network to fund BabyDog pools in Pancake Swap.
A suitable wallet for Baby Dodge
What are the characteristics of the best wallet to hold Baby Dogecoin?
Baby Dogecoin is a BEP-20 standard currency and since this standard is compatible with the Ethereum virtual machine, it is better to keep it in an Ethereum wallet that is also easily tradable. Obviously, these wallets also fit the Erc-20 Baby Dodge version. The important point in choosing a software wallet is to pay attention to the security of these wallets.
Although software wallets are not as secure as hardware wallets, they are free, user-friendly, and downloadable for desktop or android.
If you are looking for the best software wallets to save Baby Dogecoin, check out the list of three suitable Baby Dogecoin wallets here.
Conclusion
As a summary of the content; It should be noted that Baby Dogecoin digital currency is undergoing changes in the future. For this reason, long-term investment in the digital currency market does not seem logical. If you are a risk-averse trader, you can buy some cryptocurrency but don't have a long-term view. The author's advice to you is that it is better to make small profits from this market with short-term trades so as not to be caught by sudden negative currents that may form around them.
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