BabyDoge is a new cryptocurrency that aims to be the “next Bitcoin”. It’s a hardfork of Dogecoin, and was launched on the 12th December. The cryptocurrency is currently in BETA so it has little use until the mainnet launch, which should be within a month. But the price of the coin has already risen more than 700% in the last few weeks.
Dogecoin price has rocketed up by 700% in the past few weeks, as the meme-based cryptocurrency recently broke $0.13 on various exchanges. We’ve seen several high profile investors jumping on the bandwagon, including Roger Ver, the CEO of Bitcoin.com, a major Bitcoin wallet provider. As the Dogecoin price rises, more investors are becoming interested in the project, which could drive up the price further.
In the last few weeks, the so-called “BabyDoge” has surged in price by 700%. A couple of things have happened to give this altcoin the boost it needs to push it to the top of the charts. Firstly, the new coin recently shook off a major public embarrassment when the “baby doge” meme finally earned its place on the spotlight, with all its expletives and innuendo. Secondly, the altcoin recently rose to prominence when the internet’s favourite currency, Dogecoin, announced it would soon adopt the new coin in its system. Finally, the coin is now the first DOGE to be supported on the new “Doge Vault” system, which aims. Read more about baby dogecoin price prediction and let us know what you think.
Summary of the situation
– The new cryptocurrency BabyDoge saw its value increase by 700% after Musk’s tweet.
– Elon Musk and Jack Dorsey are planning a meeting to discuss cryptocurrencies.
Tesla CEO Elon Musk’s tweets have gained popularity in recent months as they drive up the price of cryptocurrencies. This time he tweeted #BabyDoge, and that was enough to send the price of the cryptocurrency meme soaring. But Musk wasn’t talking about Dogecoin, he was talking about an alternative token that is less than a month old.
BabyDoge, a new crypto-currency, is derived from the Dogecoin token. It has a similar algorithm, but at a much lower cost. But after the billionaire’s tweet expressing support for the cryptocurrency, its value skyrocketed to 700%.
The cryptocurrency has a capitalization of over $0.2 billion, with the value increasing in less than 24 hours. This is relevant for a cryptocurrency that is less than a month old and has shown low expectations for growth.
CoinMarketCap, a cryptocurrency financial information company, suggests that the token is trying to impress its father. This new cryptocurrency promises better transaction speeds, more security and an automated system. But Dogecoin is based on bitcoin technology, but without entering the mining phase.
Musk’s tweet causes a stir on social media
Musk posted a BabyDoge tweet referring to the most popular nursery rhyme. While some people support Musk and his tweets, the comments have been pretty factual.
Traders have even criticized Musk for manipulating the crypto-currency market to his advantage. The hashtag #BabyDoge is trending on Twitter, and even the official token account has gained support.
Elon Musk flaunts his support for BabyDoge, but is it really true?
Both the SpaceX founder and Tesla CEO have made multiple forays into crypto-currencies. In 2021, Elon Musk was in the news a lot to support or refute environmentally dangerous cryptocurrencies.
Elon even appeared on SNL under the alias DogeFather, making his support for Dogecoin synonymous. While Musk promoted and put DOGE trading on the map, he also caused bitcoin to lose value. Elon Musk is hated and labeled as an influential crypto-currency speculator.
Crypto-currency experts believe Musk’s support for BabyDoge is not legitimate. However, this expression of sympathy for the new medal led to its worldwide acceptance.
Elon Musk plans to meet with Twitter CEO Jack Dorsey to talk publicly about cryptocurrencies. Dogecoin, Shiba Inu or even the Baby Doge derivative could increase in value after the event. There is no exact date for this meeting yet, but it could pave the way for a new wave of cryptocurrency.
Cryptocurrencies like bitcoin and ethereum lost more than 50% of their value in May. Bitcoin is trading above $33,000, but the value could rise in the coming weeks.BabyDoge, the cryptocurrency that launched in 2014, has gained enormous popularity in 2017. It has been trading at $0.0020 throughout the year, hitting a peak of as high as $0.0063 this month. A closer look at BabyDoge’s history also reveals that it has seen massive price increases in the past. One of the most recent spike occurred on 24 May, when the price rose from $0.0020 to $0.0074. This is a 700% increase in the price, which is more than twice what it was in early May.. Read more about baby doge crypto price and let us know what you think.
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