Log In
CoinEx Academy

What Is Baby Dogecoin (Baby Doge)?

2023-03-09 02:56:41

What Is Baby Dogecoin (Baby Doge)?

Similar to Dogecoin and Shiba Inu, Baby Doge is a cryptocurrency based on a meme about dogs. At this time, it is stored in more than 300,000 different wallets. Although the creators of Baby Doge recommend using the Uniswap or PancakeSwap exchanges to purchase the money, it is possible to locate it for sale on other exchanges or through other suppliers of wallet services.

Because Baby Doge is a cryptocurrency token, its use is governed by smart contracts executed on top of existing blockchains. Thanks to the Baby Doge smart contract, the currency can be accessed through Ethereum and BNB Chain wallets.

Baby Doge Coin

Understanding BabyDoge

One of the strategies used by cryptocurrencies to stimulate investment is the use of transaction fees, and Baby Doge is one of those cryptocurrencies. With each transaction, it rewards its users by adding Baby Dogecoins to the wallets they use to store the cryptocurrency. 

If you hold Baby Dogecoins in your wallet, you will automatically earn additional Baby Doge, which will be transferred to your wallet as soon as possible. This allocation of 5% of each transaction is made automatically to holders of Baby Doge, and if you hold Baby Dogecoins in your wallet, you will earn additional Baby Doge.

To elaborate further, a 10% transaction fee will be deducted from your Baby Dogecoin balance each time you make an exchange. The remaining 5% is divided up to be used in a liquidity pool along with Binance Coin on PancakeSwap, and 5% of it is distributed following the amount of Baby Doge invested by each investor. If you sell Baby Dogecoin, you will effectively lose 10% of your initial investment; however, if you keep it, you will be rewarded for your patience.

How Many Baby Dogecoins Are There?

Currently, there are 420 quadrillion Baby Dogecoins. Out of which 27% have been burned.

BabyDoge Tokenomics

The current quantity of Baby Dogecoins is 420 quadrillion, and the cryptocurrency has a market value of more than $200 million. Thousands of people are currently holding Baby Doge, meaning this cryptocurrency's total supply is 115 quadrillion.

BabyDoge Coin Price

The current price on 23 February 2023 is $0.00000000293. It is expected to increase in price at the end of this year.

What is Baby Dogecoin Worth?

BabyDoge is a very insignificant cryptocurrency; in terms of market cap, it has the 218th spot on the list. The market cap is around $333,880,603 as of today. More than 27% of the Baby Dogecoins are already burned.

Price History

Just after its launch on June 1, 2021, Baby Dogecoin quickly garnered a following as well as the interest of new buyers. After two weeks after the product's debut, the price had already escalated by more than a thousand percent. By the end of the third week, its market value had reached $200 million; by the end of the fourth week, 160,000 people had coins.

Please look at the following graph for its price history since its release.

Baby Dogecoin Price History

Where to Buy BabyDoge Coins & How to Buy?

BabyDoge coin is a cryptocurrency available for purchase on various cryptocurrency exchanges. Here are the steps you can follow to buy BabyDoge coins:

Choose a Cryptocurrency Exchange

The first step is to choose a cryptocurrency exchange that supports the trading of Baby Dogecoins. Some popular exchanges where you can buy Baby Dogecoins include CoinEx.

You can also get doge on decentralized exchanges (DEX) like Pancakeswap.

Create an Account

Once you have chosen an exchange, you must create an account by providing your details, such as your name, email address, and phone number. You will also need to verify your identity by providing a government-issued ID.

Fund Your Account

After your account has been created and verified, you can fund your account by depositing funds using a bank transfer, credit card, or other payment methods supported by the exchange.

Buy Baby Dogecoins

Once your account has been funded, you can buy Baby Dogecoins by searching for the Baby Dogecoin symbol on the exchange and placing a buy order. You must specify the number of Baby Dogecoins you wish to buy and the price you will pay.

Store your Baby Dogecoins

After buying Baby Dogecoins, storing them in a secure wallet where you control the private keys is essential. This will ensure that your coins are safe and cannot be stolen by hackers or lost if the exchange is hacked.

Prev
Web3 Trends: Entrepreneurs, Office Workers, and Speculators
Next
How to Earn Easy Profits in CoinEx AMM Markets