The Community’s New Favorite Meme Coin Hits the Top, Beating SHIB

0

  • Baby Doge Coin (BABYDOGE) The number of investors has risen to a new historic high, surpassing the popular meme cryptocurrency Shiba Inu.

According to a tweet by a meme coin supporter named “BabyDoge support”, the amount of wallets holding this small-scale dog token has increased by nearly 200,000 since February of this year.

The number of BabyDoge holders has reached a new high.

The tweet showed that the number of investors holding BabyDoge meme coins now totals 1,550,000. As reported by KoinFinans in mid-April, at that time, the total number of investors of this cryptocurrency was 1.1 million wallets on BNB Chain, the native blockchain on which the coin was built.

This represented an increase of about 200,000 since February. However, the vast majority of BabyDoge’s supply (1,000,000,000,000,000 coins) is still not decentralized enough and is held by only five wallets, according to data from bloxy.info.

Trying to melt the huge supply

As reported by KoinFinans, on May 1, the Baby Doge Coin 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!”

According to the WhaleStats crypto data monitoring service, the top 100 BNB wallets are a 1.8 quadrillion token worth $2,947,691. BabyDoge token holds the pack – that’s 0.19 percent of giant whales’ portfolios.

At press time BabyDoge tokentrading at $0.0000000016 per token, up over 13% in the last 24 hours.

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 DOGE’s own “son”. According to the platform’s website, Baby Doge; It is a cryptocurrency “trying to impress its father, Dogecoin, by demonstrating its new, improved transaction speeds and cuteness.” In the Baby Doge Coin whitepaper, the team defines 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.”

babydog token

With a hyper-deflationary system that is increasingly scarce and liquidity, BabyDoge’s project team hopes to capitalize on the hype following Dogecoin and the Shiba Inu, but using faster transactions and advanced intelligence to do so.

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.

Shiba Inu lags behind in number of investors

According to Shiba Inu (the second largest cryptocurrency by market cap), currently one of the most studied meme cryptocurrencies on the market, the number of investors in the popular meme coin lagged far behind BabyDoge. Currently, the total number of investors of SHIB, developed on the Ethereum chain, stands at 1,172,506, up 32,000 in May.

The Shiba Inu token is changing hands at $0.00001174 at the time of writing, up over 4% in the last 24 hours.

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