Baby Doge, another Cryptocurrency that is basically created as meme, is started to get some attention in the crypto market. Once again, person behind this buzz is none other than Elon Musk, famously known as The Doge Father in the crypto world.
Baby Doge has inherited a few ideas and tricks from it's meme father, the Doge coin. Baby Doge seems to impress his god-father by showing off his improved transaction speeds and cuteness. Baby Doge is highly deflationary coin with an integrated smart staking mechanism built on it. If you Love animals and your pets then buy few Baby Doge tokens and watch them grow.
Rise of Baby Doge
Baby Doge has recently joined the Dogecoin band network, in a list of penny and meme cryptocurrencies suddenly rising up in price. All credit to the Tesla CEO, Elon took to Twitter and tweeted with a take on Baby Doge with the Baby Shark song. This made Baby Doge token to rise in price, making it the biggest price rally ever recorded. However, many are aware with the volatility in prices of these small cryptocurrencies, so investing in such tokens may not be a good choice.
Where to buy Baby Doge ?
BABYDOGE is the official symbol for Baby Doge Coin. Since this crypto is new to the market, at this time, Pancake Swap is the only exchange that allows you to buy Baby Doge token. You won’t find Baby Doge coin on major exchanges like Coinbase, Gemini, and Binance. There are several news saying that, Baby Doge is likely to get listed on CoinGecko first.
Is it worth buying Baby Doge ?
Investing in crypto assets is always risky because of the market volatility, but when it comes to these penny and meme tokens, it is almost like gambling. If you look at the market cap, supply and price of these token, it seems almost impossible for them to reach $0.1 mark because there supply is unlimited. As the demand increases, there is enough supply to meet this demand, so you won't see big change in price.
After Musk posted in favor of Baby Doge, the price of the crypto almost got doubled. This was the biggest price hike Baby Doge ever seen, after it reached 8x in a single month since its debut.
Currently, Baby Doge is trading at $0.000000001632 , down by 19 % from its peak yesterday. The dip in the market suggest that there will be plenty of variation in the price of Baby Doge, especially because of Elon's tweet.
Just like other cryptos, Baby Doge is just another tricky digital token/asset that has no strong fundamentals. You should only invest in cryptos, if you are ready to take huge loses, so this has become a rule now a days.
Disclaimer
All these investment ideas and price predictions are based on my personal views and some crypto resources, hence it should not be considered as a Financial recommendation.
- " Happy Investing "
