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What is Baby Dogecoin? Should You Buy Baby Dogecoin Cryptocurrency?

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BABY DOGECOIN, a cryptocurrency offspring of the ever-popular DOGE, has recently gained traction in the cryptocurrency market, attracting Elon Musk's attention. In the realm of cryptocurrency, things move quickly. Dogecoin was the hottest cryptocurrency in 2021 not long ago. It's virtually old news now, and a Baby Doge Coin is generating a lot of buzz. The stakes of the Baby Doge, a sequel to the larger parent Dogecoin, rose to a stunning 80% after Tesla co-founder Elon Musk sent a random tweet containing the song "Baby Shark." Baby Doge is a pyramid fraud disguised as a technology investment.

 

With a 24-hour trading volume of $129,089,342 USD, the current Baby Doge Coin price is $6.76e-9 USD. In the previous 24 hours, Baby Doge Coin has increased by 69.25 percent. The current rating on CoinMarketCap is #2527.

What is Baby Doge?

What is Baby Doge?

Baby Doge, a month-old cryptocurrency, is credited to "fans and members of the Dogecoin online community," according to a post on its website. Baby Doge is based on an integrated smart staking system, which means that every transaction adds more money to the wallet. Baby Doge offers faster transaction speeds than Dogecoin and Shiba Inu coins. The token's purpose is to "impress his father by demonstrating his new increased transaction speeds and cuteness." It's a yield-farming token, to put it bluntly. It's not quite Dogecoin, but it's similar to Shiba Inu (CCC:SHIB-USD), with a limited token supply and staking benefits.

Interesting Things to Know About Baby Dogecoin
 

Interesting Things to Know About Baby Dogecoin

On June 1, 2021, it was founded. It wasn't until June 9 that the earliest price was recorded, when it cost $0.000000000175. Thanks to social media and influencer marketing, this quickly increased, but subsequently dropped.

A six-phase strategy is in place for Baby Doge Coin. The first few stages are quite standard, with objectives such as reaching 25,000 subscribers and completing a website overhaul. Things get a lot more ambitious in the final phase. With a market cap of $100 billion and the establishment of a Baby Doge religion with a market cap of $500 billion.

The overall quantity of Baby Doge Coin was 420 quadrillion tokens, with the team behind it physically burning (destroying) over 125 quadrillion. The Baby Doge Coin team has complete control over when and how many tokens are burned when manual burns are used.

Fees and Bonus Associated with Baby Dogecoin

Fees and Bonus Associated with Baby Dogecoin

A ten percent fee is applied to each transaction. The vendor pays 10% on every Baby Doge Coin transaction. Here's how it works:

Everyone who presently owns Baby Doge Coin will receive a 5% bonus.

Half of the 5% is kept as Baby Doge Coin and the other half is swapped for Binance Coin. These serve as a liquidity pool, allowing users to trade those two currencies for one another.

The ten percent fee is an incentive for Baby Doge Coin holders to keep their coins. You will be charged 10% if you sell yours. If you keep it, you'll get a cut of the sale price if someone else sells it.

The ten percent fee is an incentive for Baby Doge Coin holders to keep their coins. You will be charged 10% if you sell yours. If you keep it, you'll get a cut of the sale price if someone else sells it. This concept was not created by Baby Doge Coin. Safemoon, which debuted in March, charges a similar price.

Is Baby Dogecoin Risky?

Is Baby Dogecoin Risky?

The cryptocurrency market is fickle, and Baby Doge can ride another wave of the increase, but beyond that, the coin has no practical use.

Nobody can foresee what will happen to Baby Doge's performance, given how unpredictable the cryptocurrency market and Elon Musk are. If Baby Doge's buzz leads to it crossing Dogecoin's value in the next months, it will astound everyone.

Buying baby Dogecoin is a gamble, with a high risk of losing money. Baby Doge Coin had a strong start, but it's difficult to view it as a long-term investment. Memecoins like this one are a dime a dozen, with no discernible future goals or competitive benefits.

How to Buy Baby Dogecoin?

How to Buy Baby Dogecoin?

PancakeSwap has it, but none of the main crypto exchanges do.

PancakeSwap is the preferred platform for those interested in obtaining Baby Doge Coin. One of the larger decentralised exchanges is PancakeSwap (sites where users contribute and trade crypto).

You must connect a crypto wallet to use PancakeSwap. Then you can exchange Baby Doge Coin for another cryptocurrency, such as Binance Coin. There is a slight learning curve, but once you get the feel of it, it's not too difficult.

Story first published: Monday, July 5, 2021, 16:24 [IST]
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