Inspired by other meme coins, Baby Doge Coin has a process known as “burning”. Burning involves the permanent destruction of a certain amount of cryptocurrency. Baby Doge Coin regularly burns a certain percentage out of circulation in order to earn profits for its holders and reduce its supply, and the team can be said to be quite stable in this regard.
In a recent development, the BabyDoge team and community initiated a massive token burn, with more than half a quadrillion BabyDoge burned in the last 24 hours. According to Burn BabyDoge data, 573,504,926,643,400 meme coins worth $1,486,525 have been removed from circulation in the last 24 hours.
In this way, a large amount of tokens was burned than the total supply. So far, 48,776% (204,860,147,437,640,768 BabyDoge) of the initial total supply of 420 quadrillion have been removed from circulation.
The Baby Doge Coin team is responsible for the burning process. details shared. A total of 257 trillion BabyDoges worth over $668,000 were burned by the team. Then, 310 trillion BabyDoge worth $806,000 were sent to dead wallets in one big transaction.
As we previously reported, Baby Doge Coin announced that it will burn five BabyDoges for every token burned through the burning portal launched in mid-February. Accordingly, more than 51 trillion BabyDoges have been removed from circulation by the community through the burn portal. The BabyDoge team has matched the community’s efforts to 257 trillion BabyDoges, five times that amount.
3.63 quadrillion meme coins burned in 2023
Following the meme coin burns, Burn BabyDoge also reported at the close of March that quadrillions of tokens have been burned since the beginning of the year. Accordingly, 3.63 quadrillion BABYDOGEs (3,638,488,857,435,276) worth $9,660,188 have been removed from circulation in the last three months.
Finally, according to data from CoinMarketCap, the price of Baby Doge Coin stands at $0.00000002685 at press time.
You can check the price movements here.