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BabyDog is a relatively new memecoin that owes much of its popularity to Dogecoin. This digital currency saw a 1000% increase in price just two weeks after its launch. In the third week, its market value reached 200 million dollars, and in the fourth week, it had 16,000 wallets of this currency. So it’s no wonder that it gets a lot of publicity. Join us as we answer the question of what is Baby Dodge and tell you everything you need to know about this digital currency.
With the sudden increase in the price of Baby Dodge, digital currency market participants became interested in this meme coin; But is Baby Dodge really worth the investment? Will the price increase of this cryptocurrency be repeated again?
BabyDog is a digital asset created by the famous Dogecoin memecoin online community. For this reason, Baby Dodge is referred to as the child of Dodge Coin. According to the currency’s website, “Baby Dog is looking to impress its father (Dogcoin) by showing its new transaction speed and cuteness.”
BabyDog is designed as an anti-inflation token to become scarcer over time. Considering that some digital currency teams destroy some tokens to limit their number, BabyDog also adds coins to the holders’ wallets every time a transaction is made. It adds Pancake Swap to the decentralized exchange.
It should be noted that Baby Dodge has a total of 420 quadrillion coins, of which more than 115.114 quadrillion are currently in circulation.
Baby Dodge currently has no use in the real world. However, there is a project underway that integrates BabyDog with Shopify, WooCommerce and other e-commerce platforms, as well as charities such as the ASPCA and the Human Society.
What are the most important features of Baby Dog?
The main feature of BabyDog is 10% commission for each transaction. If you want to sell 1 million BABYDOGE tokens, you need to pay $100,000 in transaction fees. This fee is split in half and 5% of it goes to all current holders of this cryptocurrency and the other 5% is used to provide liquidity for transactions.
You can earn passive income with Baby Dodge. In fact, this is one of the main benefits of owning Baby Dog Coins. Just by owning BabyDog, your blockchain wallet balance will increase. Of course, if the price falls, that passive income won’t be worth much. So if you hold Baby Doge coin, you will earn one share from each transaction. Of course, BabyDog is not the first token to do this since its launch.
BabyDog has no distinguishing feature from other cryptocurrencies and its price increased only because of its name and strong social media marketing campaign.
History of Baby Dogecoin
Baby Dodge was launched on June 1, 2021. Although there is no information about the currency’s development team on its website or whitepaper, its founder is reportedly Christian Campisi, who also created Save Lands and Pawz. In July 2021, Campisi uploaded a video addressed to the Baby Dogecoin community and called himself the founder of this digital currency. It was here that the question of what is Baby Dodge was created in minds.
Although Baby Doge had an initial supply of 420 quadrillion tokens, approximately 43% (180 quadrillion) were burned (destroyed). Since then, the development team has continued to burn tokens on a monthly basis. These burnings are a way to manage supply and potentially increase demand, but this event does not always coincide with price increases.
How does Baby Dodge work?
Baby Dodge is a BEP-20 digital currency; This means that it is built on the Binance Smart Chain (BSC). An important advantage of the Binance smart chain is its speed and efficiency compared to other blockchain networks. As a result, gas costs (transaction fees) are low and processing is possible in less than five seconds.
As mentioned above, the BabyDoge protocol charges a 10% fee for each transaction and redistributes half of this fee to all current holders of BabyDoge tokens in a process called reflection.
Another 5 percent will be divided into two equal parts. Half of them will remain and the other half will be converted into Binance Coin (BNB). Both tokens are then deposited into a BABYDOGE/BNB liquidity pool on the PancakeSwap decentralized exchange. This action helps to provide liquidity to the pool so that people can trade between BabyDog and BinanceCoin.
Because part of BabyDog’s mission is to help dogs in need, BabyDogCoin has partnered with and sponsored several animal rescue organizations. So far, you have met Baby Dodge to some extent. The following is a list of some of its most notable donations:
American North Coast Animal League received $150,000 from Baby Dog in December 2021.
Best Friends Animal Society received $100,000 from Baby Dog in August 2021.
Paws with Cause received $75,000 from Baby Dog in July 2021.
Furkids received $20,000 from Baby Dog in July 2021.
The BabyDogCoin team has also done a few sports partnerships. In February 2022, the team signed an advertising partnership agreement with Hoffenheim Football Club to help develop non-fungible tokens (NFTs) for the club’s fan votes.
What are the benefits of Baby Dogecoin?
Baby Dodge in an ideal situation is compared to Dogecoin, but Dogecoin has no ceiling in the supply of coins.
What is Baby Dodge?
does not have its own However, a cryptocurrency without a practical application and a supply of 420 quadrillion can hardly be considered scarce. For example, Bitcoin has a real scarcity because it has a cap of 21 billion coins, of which more than 18 billion are currently in circulation.
At the moment, it seems that BabyDog’s only advantage over other cryptocurrencies is the loyal community that has formed around it. This is despite the fact that it has no application in the real world and all its value lies in the attractiveness of this currency as a popular meme coin.
What are the disadvantages of Baby Dogecoin?
Interestingly, a token similar to BabyDog was launched two months before the launch of this currency in May 2021. Like BabyDog, Kabosu charges a 10% transaction fee, which is distributed among existing token holders and a liquidity pool. It also donates to animal charities like BabyDog. One such charity is Paws with Cause, a small local charity that lists both Baby Dog Quinn and Kabosu as partners.
This could all be a coincidence. However, given the similarities between the two cryptocurrencies, it appears that the same development teams are behind both. This evidence further shows that there is nothing remarkable about any of these tokens and that the only real purpose is to launch a token that can spread like a virus in the world.
