Meme cryptocurrencies like Baby Doge coin (BABYDOGE) have become popular trading assets for cryptocurrency investors. In the past 60 days, as of 13 July, BABYDOGE coin has returned about 30%, outperforming top cryptocurrencies like Bitcoin (BTC) and Ether (ETH) over the same time period.
BABYDOGE has amassed a strong community since its launch in June 2021. The meme coin inspired by the popular Dogecoin (DOGE) has over 1.5 million followers on Twitter.
“Baby Doge Coin has learned a few tricks and lessons from his meme father, Doge,” said Baby Doge in its whitepaper.
So what is Baby Doge, and how does it differ from other popular meme coins? Does Baby Doge have a future? We will answer your questions in this article. You will also find the latest news and analyst price projections for BABYDOGE here.
Origins and founders: Dogecoin-inspired
BABYDOGE is a dog-themed cryptocurrency built on cryptocurrency exchange Binance’s layer-1 blockchain network BNB Chain. The token launched in June 2021 and is considered a meme coin, alongside other dog-themed cryptocurrencies such as Dogecoin and Shiba Inu (SHIB).
According to the Motley Fool, Christian Campisi was the founder of BABYDOGE. Campisi has also founded a marketplace called SaveLands that plants 12 trees for every item sold.
The Baby Doge cryptocurrency is among a growing number of coins and tokens based on the Shiba Inu dog internet meme, from Dogecoin to Shiba Inu, Floki Inu (FLOKI) to Dogelon Mars (ELON) and many more.
Dogecoin launched as a joke, parodying the proliferation of cryptocurrency projects. Over time, however, it has developed a strong community focused on the potential for small investors to get involved. According to BABYDOGE’s whitepaper:
“Baby Doge Coin was born June 1st 2021 with the goal of being a decentralised meme project with a purpose. Baby Doge is a fun meme with a serious mission to rescue dogs in need, bring crypto adoption to the mainstream with new concepts such as rewards, NFTs, decentralised exchanges and credit cards for crypto payments on our website.”
Tokenomics and features: Deflationary token
The protocol features three basic functions: reflection, liquidity pool acquisition and burn. Each trade incurs a 10% transaction fee, which is split in two ways:
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5% is distributed automatically to token holders as a reward
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5% is split, with half sold into Binance Coin (BNB) and the other half added to the BABYDOGE/BNB liquidity pair on the PancakeSwap decentralised exchange (DEX). The majority of the initial liquidity pool tokens are locked and some burned.
According to its website, BABYDOGE token is designed to be a deflationary token. A dead wallet holds over 45% of its supply, with more coins being burned with each on-chain transaction. The token was “originally created as a meme joke with 420 quadrillion supply,” said its website.
As of 13 July 2022, the circulating supply of BABYDOGE stood at over 115 quadrillion tokens while its total supply stood at 231.9 quadrillion tokens, data from CoinMarketCap showed.
Baby Doge coin features a decentralised exchange (DEX) called Baby Doge Swap and non-fungible tokens (NFT) called BabyDogeNFT. The project also has a designated charity wallet that receives redistributions to be donated to its animal welfare charity partners.
Baby Doge coin has the “goal of being a decentralised meme project.” The project has 21 validators and its on-chain governance is based on proof-of-staked authority consensus, according to its website.
BABYDOGE was ranked the 231st largest cryptocurrency with a market capitalisation of $146m, as of 13 July 2022. According to CoinMarketCap, BABYDOGE is currently the fourth biggest meme coin in terms of market capitalisation, behind DOGE, SHIB and ELON.
Baby Doge, doo, doo, doo, doo, doo,
Baby Doge, doo, doo, doo, doo, doo,
Baby Doge, doo, doo, doo, doo, doo,
Baby Doge— Elon Musk (@elonmusk) July 1, 2021
Price performance: The rise of meme coins
Historical chart data show that BABYDOGE was trading below $0.0000000001 at the time of its launch in June 2021. On 4 July 2021, the token surged about 93% to an all-time high of $0.00000002 after celebrities Lil Mook and Elon Musk tweeted about the token, attracting wider investors attention.
As the hype around BABYDOGE started cooling, its price dropped back to about $0.0000000004 in early September. However, BABYDOGE would see its best monthly performance in October 2021 as the token closed the month 510% higher amid a wide cryptocurrency market rally.
BABYDOGE prices eased in the months that followed only to surge again in January 2022 as the token closed the month 130% higher to hit its highest since July 2021. However, the token was unable to break its all-time high level.
Baby Doge coin has not been immune to the crypto winter of 2022. BABYDOGE hit a seven-month low of $0.000000000823 on 12 May 2022. As of 13 July 2022, the meme coin has lost over 41% year-to-date (ytd).
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Data from CoinMarketCap showed the token is about 93% below its all-time high, as of 13 July 2022. On 3 February, German football club TSG Hoffenheim partnered withBaby Doge to develop NFTs. The deal also included LED advertising at its home stadium for BABYDOGE and co-branded content.
In April, Baby Doge announced the launch of its own NFT collection.
In the latest Baby Doge news, the project tweeted that 50 quadrillion BABYDOGE tokens were burned on 1 July 2022.
What is the potential future of Baby Doge coin? Can it replicate the strong gains seen at its launch, or has the opportunity passed? Below, we look at some of the latest expectations from forecast sites.
Baby Doge price prediction for 2022 and beyond
As of 13 July 2022, CoinCodex’s short-term Baby Doge coin price prediction indicated that the token’s value could rise over 8.8% to reach $ 0.0000000014 by 18 July 2022.
CoinCodex’s one-month BABYDOGE price prediction saw the token falling to $ 0.0000000007.
For the longer term, algorithm-based website WalletInvestor’s Baby Doge crypto price prediction expected the token to trade at an average price of $0.000000002 by the end of 2022.
WalletInvestor’s Baby Doge price prediction for 2025 expected the token to rise to an average price of $0.000000004 by the end of 2025.
DigitalCoinPrice was bullish about BABYDOGE’s price performance for the long term. According to its Baby Doge price prediction for 2030, DigitalCoinPrice expected the token to trade at an average price of $0.00000000593 in 2030.
Finally, Gov.capital’s Baby Doge price prediction as of 13 July 2022 saw the token trading at $0.00000000631 in one year’s time.
Note that analyst and algorithm-based Baby Doge future price predictions can be wrong, and that forecasts shouldn’t be used as a substitute for your own research. Always conduct your own due diligence, and remember that your decision to trade or invest should depend on your risk tolerance, expertise in the market, portfolio size and investment goals.
FAQs
Is Baby Doge a good investment?
Cryptocurrencies are risky investments, and meme coins like Baby Doge (BABYDOGE) are especially high-risk. Whether BABYDOGE has a future could depend on whether it finds a use that leads to widespread adoption and activity across cryptocurrency markets. With new coins being launched regularly, a rival meme coin could emerge and capture investors’ attention.
Always conduct your own due diligence and remember that your decision to trade or invest should depend on your risk tolerance, expertise in the market, portfolio size and investment goals.
Will Baby Doge go up or down?
It’s important to keep in mind that cryptocurrency markets remain extremely volatile, making it difficult to accurately predict what a coin’s price will be in a few hours and even harder to give long-term estimates. As such, analysts and algorithm-based forecasters can and do get their predictions wrong.
If you are considering investing in cryptocurrency tokens, we recommend that you always do your own research. Look at the latest market trends, news, technical and fundamental analysis, and expert opinion before making any investment decision. Keep in mind that past performance is no guarantee of future returns.
Should I invest in Baby Doge?
Baby Doge is a meme cryptocurrency like Dogecoin and Shiba Inu. Meme coins are known to be highly speculative, and are often considered to hold near-zero utility.
Whether BABYDOGE has a future could depend on whether it finds a use that leads to widespread adoption. With new coins being launched regularly, a rival meme coin could emerge and capture investors’ attention.
Always conduct your own due diligence and remember that your decision to trade or invest should depend on your risk tolerance, expertise in the market, portfolio size and investment goals.
Further reading
