Many of us are already familiar with the term “cryptocurrency,” which is a digital or virtual currency that has altered the digital payment system throughout the world by utilizing a technology called Blockchain. This technology mostly used to manage and record transactions across many computer networks. Have a glance at the complete baby doge coin definition, popularity, etc.,
Cryptography makes this virtual cash virtually hard to double-spend. As a bonus, you may use your digital asset to purchase and sell products online. Today we are going to talk about one of those crypto currencies known as Baby doge in detail.
What is Baby Doge Coin Cryptocurrency?
Baby Doge Coin is just another name for Dogecoin. It’s a low-value cryptocurrency based on memes that has been gaining popularity on social media. It aims to wow his father by showing off his new, faster transaction rates and adorableness, according to its website. It is a deflationary token, which means it will become more rare over time.
The decentralized exchange Pancake Swap adds some Baby Doge coins as part of a liquidity pair, whereas other crypto teams just delete tokens. Baby Doge adds coins to holders’ wallets every time they transact.
According to Coin Market Cap, a portion of the proceeds are given to charitable organizations. However, Baby Doge has a total supply of 420 quadrillion coins, of which 125 quadrillions destroyed and 295 quadrillions are now in use.
In the current situation, it appears that the main advantage that Baby Doge has over other digital currencies is the large and enthusiastic community that has formed around the project. The only value coin has is in its attractiveness as a meme currency, as it has no practical use in the actual world.
Should I Invest?
It is stated in the Baby Dogecoin whitepaper that a wallet to monitor incentives created and a marketplace for NFTs, or non-fungible tokens, set up in the future. According to a recent report from Coin Market Cap, Baby Doge might be useful as an e-commerce currency, a good one to invest in.
As millennials refer to it, “Baby Doge,” the meme-based cryptocurrency, Dogecoin, is nothing more than a spin-off of the original. Elon Musk, the CEO of Tesla and a self-professed crypto phile. He was inspired to build it by members and supporters of the Dogecoin community.
Dogecoin made famous by Elon Musk’s tweets at the beginning of the year, and now someone created a BDC with the face of Musk’s Shiba Inu son. Only a few people were aware of Baby Doge coin before Elon Musk made it a trending topic on Twitter. Besides the fact that Musk shared it on his Twitter account, the popularity of Baby Doge might be attributed to the fact that it shares its emblem with Dogecoin. It gained notoriety due to a meme showing the exact same puppy.
However, the only thing linking these two cryptocurrencies is their names and symbols. Now, it’s obvious that this was all a ruse to get attention from the media! Baby Doge Coin is also 10 times quicker than Dogecoin when it comes to transaction processing speed.