CRYPTO NEWS AGREGATOR
Mon, Aug 23, 2021 5:15 PM by Valte

DeFying Gravity: Babydogecoin — A Tiny Son With Big Ambitions

BabyDogecoin

We are moving on with the “DeFying Gravity” series where we explore the world of new and sometimes weird tokens, and today we discovered Babydogecoin inspired by the main meme token deeply loved by everyone, but with the new generation specifications and Big Woofy Dreams. We tried to understand if it’s the next crypto joke or this Doge can actually bark loud enough.

What is Babydogecoin?

Babydogecoin is a new decentralized hyper-deflationary token created on the Binance smart chain by the members of the Dogecoin community. Launched in June 2021 the token has already shown what it is capable of, surpassing over 100’000 holders in the first 21 days. Community is one of the main values of the project and it seeks to get bigger and bigger for this the team has multiple active Telegram channels with altogether over 85k members.

The project claims to be on a mission of bringing crypto to every average person, expanding crypto adoption to the mainstream with the fresh concepts of rewards, NFTs, decentralized exchanges, credit card for crypto payments, and meanwhile to help the dogs in need.

Because of the launch on Binance Smart Chain Babydogecoin crypto is 10 times faster than its big famous brother, but that’s not the only thing it got to impress the investors and we are not talking only about its adorableness that goes without saying.

So taking a closer look at the Woof paper can define other unique features of the Babydoge Coin:

  • live decentralized swap directly from the official website (got available right after the launch);
  • credit card payment directly through the website;
  • transactions speed which goes to 5
  • paw wallet where the holders can track the rewards gained from reflections, wallet balance, coin valuation, etc.
  • NFT marketplace where users can create, buy/sell and auction their NFTs as well as donate some money for helping homeless dogs;  
  • Babydoge Swag merchandise store for the holders to buy merchandise to support their favorite meme token.

It is also worth noticing that the token was audited by the third-party Dessert Finance.

After one month of existence, the project was noticed by the main meme coin lover Elon Musk, which straight away affected Baby Dogecoin price to go up. The token also got some attention from the other influencers, though the project honestly admits that some of them “may have been compensated”. According to the Babydogecoin chart at the moment of publishing token value was slightly swinging but without the sudden jumps and falls.

Tokenomics

The token was designed to become more scarce over time and every holder earns more tokens just by holding the asset as 5% fee of every transaction on the Babydogecoin contract address gets redistributed to the current holders.

29% of the total coins’ supply was burnt, so 29% of every 5% transaction fee goes to a dead wallet to improve the liquidity of the token. All of the LP holders are transparent and their addresses can be seen at the Baby Doge coin BSCscan page. Some part of the redistributions also goes to the charity wallet for the charity partners support.  

Every transaction has 10% fee, that splits in 2 ways:

  1. 5% is redistributed to the existing holders;
  2. 5% split on half with one half of it sold into BNB and the other half is automatically paired with BNB and added as a liquidity pair on PancakeSwap;

At the time of publishing the market cap, according to the Baby doge coin Poocoin data was a bit over $286 million with the price of one token being at $0.00000000104888.

The total supply of the new super-fast meme token is 420 quadrillion and the circulating supply is 295 Quadrillion with 125 Quadrillions of tokens being burnt.

Baby DogeCoin is to grow or stay a baby in crypto?

So far the project has proven that with all the cuteness it’s following serious goals. In the near future, it's planned to involve a token in the spheres where it can be really useful. But not to forget the fun part of it it’s also planned to add way more meme tokens.

Right now the project is close to completing Phase 4 of its Paw map and moving to the more exciting heights. In particular, the NFT marketplace is finally to be released, Tesla giveaway for the eco-friendly strategies promotion, donation of $250k as soon as the market cap reaches $500 million and donation of $500k to the dog shelters when the market cap reaches $1 billion and then donation of an unspecified amount for building homeless dogs shelter at the market cap point of $25 billion.

The project might have gone completely crazy as part of Phase 6 is to create Babydogecoin religion when the market cap reaches the level of $500 billion. And even though it can sound completely mad the project has already shown its baby fangs, and it really seems like with all the community support and increasing success (for instance, many members of Baby Doge coin reddit branch are completely excited about it) Baby Doge can if not overgrow the original Doge but very possibly comes close to it.


The content of this article is for informational purposes only and should not be construed as investment advice. We ask you to do your research.

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