A Record Burn of 4 Quadrillion Came From This Meme Coin!

0

A cryptocurrency considered by the crypto community to be the ‘son’ of the popular meme token DOGE, and which has recently experienced major developments such as the launch of NFTs, the Ronaldinho partnership, the launch of its own decentralized exchange. Baby Doge Coin (BABYDOGE) After being the meme coin with the most investors, it has now set a great record in burning.

Baby Doge Coin (BABYDOGE), one of the most popular meme-based crypto projects (with over 1.3 million followers on Twitter), celebrated its “11 month birthday” on Sunday, May 1.

Baby Doge Coin celebrates 11 month birthday

Yesterday (May 1), the Baby Doge team caught the attention of the community by announcing that they will celebrate the popular meme cryptocurrency project’s 11-month birthday by burning four quadrillion BABYDOGEs:

“Today is BabyDoge’s 11 month birthday! We will burn 4 quadrillion Baby Doges at 19:00!”

Meme coin’s team has fulfilled their promise to the community and earlier today they have completed this token burn and together with this massive burn, more than 45 percent of the total supply of Baby Doge Coin (which is 420,000,000,000,000) is now reported that it was removed from circulation.

“4 QUATRILLION BabyDoges have just been burned! More than 45% of the total supply burned!”

The proof of burning was provided by BscScan, a BNB Chain block tracking platform:

babydog
Source: BscScan

Coin burnIt is a method used to keep the market value of crypto assets high and try to stabilize inflation. In theory, when most of a coin’s supply is removed, there is an increase in demand for that coin, and the price skyrockets as a result.

What is Baby Doge?

Launched following rivals like Shiba Inu and Dogecoin, Baby Doge Coin (BABYDOGE) is a crypto asset created by the online Dogecoin (DOGE) community and considered the “son” of DOGE. According to its website, Baby Doge; It is a cryptocurrency that “tries to impress its father, Dogecoin, by demonstrating its new, improved transaction speeds and cuteness.” In Baby Doge’s whitepaper, the team describes the meme coin as follows:

“Launched in June 2021, Baby Doge Coin is a cryptocurrency with one of the fastest growing communities among crypto memes. Baby Doge has a mission to help save dogs in need, while also helping ordinary people get acquainted with cryptocurrencies. Baby Doge is built on Binance Smart Chain with incredibly fast 5 second block times and cheaper gas fees than Ethereum.”

With a hyper-deflationary system that is increasingly scarce and liquidity, BabyDoge’s project team hopes to capitalize on Dogecoin’s momentum, but uses faster transactions and advanced intelligence to do so.

“Baby Doge wants to impress her dad by showing off his new increased processing speed and cuteness. It is a hyper-deflationary crypto asset with static reflection that rewards its investors, so extra BabyDoge coins are added to your wallet with every transaction.”

The Baby Doge Coin project oversees the welfare of dogs and actively reaches out to dog shelters and organizations that benefit dogs. It is known that the purpose of the platform is to help rescue as many dogs as possible.

babydog

The rise of BabyDoge

One month after Baby Doge is born, it will generate a huge wave of adoption, raise awareness of the coin, and babydog priceSpaceX and Tesla CEO Elon Musk, a proponent of a major Dogecoin (DOGE), sent the following tweet. This tweet helped BabyDoge climb to the top of the crypto industry. From this point on, the team of the project managed to keep the meme coin on the agenda with various developments.

You can check the price movements here.

Disclaimer: What is written here is not investment advice. Cryptocurrency investments are high-risk investments. Every investment decision is under the individual’s own responsibility. Finally, KoinFinans and the author of this content cannot be held responsible for personal investment decisions.


source site-7