One of the strongest competitors of Shiba Inu (SHIB) is outpacing the broader crypto markets after gaining nearly 60% last week. meme token Baby Doge Coin (BABYDOGE) has gained over 57% in just one week, from a seven-day low of $0.00000000281 to $0.00000000443.
BABYDOGE has since pulled back and is trading at $0.00000000407 at the time of writing.
Market participants await the launch of BABYDOGE’s token burning portal that went live yesterday meme coin rose.
According to Baby Doge Coin’s Twitter account, the portal is putting the power of burning in the hands of the community, giving users lower purchase fees to purchase BABYDOGE, and reducing the meme token supply. In the last 24 hours alone, the project has burned 81 trillion BABYDOGE worth $321,000. Over 202.7 quadrillion Baby Doge Coins worth approximately $804 million have been burned during the meme token’s existence.
Memecoin was launched in 2021. It is currently live on both Ethereum (ETH) and Binance Chain (BNB). Tech billionaire and Dogecoin (DOGE) supporter Elon Musk came to the fore when he sparked a massive rally with a tweet referencing BABYDOGE.