What is Baby Doge Coin?
Baby Doge Coin, or BABYDOGE, is a community-driven hyper-deflationary memecoin. This means that its token supply will decrease over time and make the token more scarce. If the economic and political climate is favorable for maintaining a stable demand, the Baby Doge Coin price should increase as well.
BABYDOGE is a reflection token. It provides holders with static rewards. This means that 5% of every transaction fee is distributed among BABYDOGE holders.
In a way, the project provides a source of passive income. All you need to do is obtain a Baby Doge Coin and hold it in your wallet. Over time, you will see your Baby Dog Coins increase in number.
There is a max cap of 420,000,000,000,000,000 Baby Doge Coin tokens. Due to its hyper-deflationary mechanism, the supply of Baby Doge Coins will decrease over time.
Since Baby Doge Coin is a cryptocurrency, its price tends to heavily fluctuate. You can start doing your research by checking out the Baby Doge Coin price history and the current BABYDOGE price on the graph above.
What are the Main Features of Baby Doge Coin?
Baby Doge Coin is deployed on the Binance Smart Chain. It employs a Proof-of-Staked-Authority consensus algorithm, which requires 21 validators. This internal mechanism highly encourages community involvement.
The protocol responsible for the token scarcity consists of 3 main components: a static reflection model, LP Acquisition, and a burn mechanism. 5% of the fees go to token holders as static rewards, and the other 5% go to liquidity.
Besides a memecoin, the Baby Doge Coin crypto project has an ecosystem of unique products, including NFTs and a mobile app called the Baby Doge Card, which will allow users to buy and transfer cryptocurrencies. Moreover, it has become a partner of CoinPayments in order to make BABYDOGE a medium of exchange on websites built on Shopify, WooCommerce, and Magento. This type of added utility is quite unheard of for a memecoin project.
In the future, it aims to introduce an exchange unique to the Baby Doge Coin project - Baby Doge Swap.
It has over 1,500,000 followers on Twitter and more than 300,000 Telegram members. The project has received support from Elon Musk himself in a Tweet posted only 1 month after the launch of the project.
The Baby Doge Coin project has 4 core values: transparency, trust, community, and longevity.
One of the main purposes of this project is to spread awareness about dog adoption. Baby Doge Coin supports animal charities through community donations. As of July 2022, it has donated over 750,000 US Dollars to charities like Best Friends, Paws with Cause, the Humane Society, and many others.
The project has been audited by Certik and the report is available for anyone to review.
Who Developed Baby Doge Coin?
The Baby Doge Coin crypto project was launched in June of 2021. Just like many other memecoin projects, its founders and core team remain anonymous.
