Explode: Record Breaking Meme Coin Rise Expected!

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  • The meme coin dubbed the “Second Shiba Inu” has recently gained potential. Binance As a result of its listing, it witnessed a massive 50 percent rally, but the rise of this cryptocurrency may not be over yet.

As a result of the development announcement shared by the official Twitter account of the cryptocurrency and Binance listing speculation, it was announced on August 9th. On Baby Doge Coin (BABYDOGE) Unfortunately, the rally of up to 50 percent we saw was not permanent and meme coin is now heading towards new lows. However, as the cryptocurrency has reached an important milestone, experts say it still looks like another rally is likely.

1.6 million holders exceeded

After the news that BabyDoge Swap will be released next week, the meme coin, which has experienced a critical development, has reached another important record and the number of holders has increased critically. More than 1.6 million holders, coupled with the BabyDoge Swap development, demonstrate the token’s popularity among retail investors and could serve as fuel for an upcoming rally.

With the recovery of the cryptocurrency market, we are seeing an increase in entries into the industry, which means that in the upcoming rally multi-holder assets including Dogecoin, Shiba Inu and BabyDoge could see an increase in purchasing power as investors look for a variety of tools to hedge their risk exposure.

Does the rally have a chance to continue?

Since August 10, BabyDoge has lost about 18 percent of its value, which usually means the end of a local rally and a return to local lows. Normally, such a correction is followed by a rapid reduction in volume and market exits, but this is not the case with BabyDoge.

Koinfinans.com According to the volume profiles, we are seeing an upward trend in volume as more traders and investors enter the meme coin. With the increase in trading volume, there is a real possibility for an upcoming breakthrough and a continuation of the market rally.

Currently, BabyDoge is trading with a 1.7 percent price correction over the past few hours and is moving between two key support and resistance lines, the 50-day and 200-day moving average.

BabyDoge Swap’s Testnet to be released next week

The team behind Baby Doge, a BNB Chain-based Dogecoin competitor, recently announced that the platform’s swap protocol will launch within a week.

Also making a statement at the end of July, the Baby Doge team said that they were looking for BSC projects to cooperate.

The platform, which the team claims to be the first to enable token swap with zero fee, will also include features such as yield and staking.

Baby Doge, which has made great strides in terms of usability recently, presented a new preview of its metaverse called “Wearable” in early June.

According to data provided by CoinMarketCap, Baby Doge remains out of the top 200 cryptocurrencies by market capitalization at press time, currently ranked 230.

According to CoinMarketCap data, Baby Doge is out of the top 200 cryptocurrencies by market capitalization and currently ranks 230th.

Listing frenzy from BabyDoge

The BabyDoge cryptocurrency experienced significant listings earlier this month. The meme coin, listed on Poloniex, also added support for the Canadian-based crypto payment platform FCF Pay in July.

Last month, the community behind BabyDoge Coin celebrated the first anniversary of the Elon Musk tweet that featured the Dogecoin parody. Despite not getting as much attention as the Shiba Inu, BabyDoge remains one of the most successful meme coins due to its vibrant community. Meme coin’s official Twitter account has 1.5 million followers, making it one of the top cryptocurrencies in terms of social media activity.

According to data provided by CoinMarketCap, Baby Doge currently ranks 165th, holding its place among the top 200 cryptocurrencies by market capitalization at the time of writing.

You can follow the current price action 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.


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