- The BabyDoge community has eliminated another staggering amount in the meme token, causing the overall supply to drop drastically. This popular meme coin is now among the most sought after coins by BinanceSmart Chain whales.
Actively BABYDOGE burning BabyDoge is a tracking platform where the BabyDoge community can track the amount of tokens burned by the community. account @babydogeburn_ In a recent tweet, this meme shared that the cryptocurrency has been sent to more than a dozen quadrillion dead addresses.
These massive burns occurred as part of the team’s plan to burn 50 quadrillion BabyDoges to further reduce the circulating supply. Regular burns are carried out with the aim of reducing the amount of meme coins in circulation, which can cause the price to increase as the coin becomes more scarce.
Meanwhile, the account shared in a tweet that 46.6 percent of the total circulating supply of Baby Doge Coins has so far been locked in non-spendable wallets.
The community has burned another big BabyDoge pack
According to the tweet, in the past day, the BabyDoge community has burned a total of $14,211,723,606,188 BABYDOGE tokens. This burning process was worth approximately $18,703.
The total amount of dog cryptocurrencies burned so far is 196,059,835,954,598,048, accounting for 46,681 percent of the total circulating token supply. Inspired by the cryptocurrency Dogecoin (DOGE), when it was launched by the DOGE community on BNB Chain, its supply was initially 420,000,000,000,000.
In the past 24 hours, 14,211,723,606,188 (~$18,703) #BABYDOGE tokens have been burned. So headlight, 196,059,835,954,598,048 #BABYDOGE tokens (46.681%) have been burned from the initial supply of 420,000,000,000,000,000. #BabyDogeCoin #BabyDogeArmy @BabyDogeCoin
— Burn BabyDoge (@babydogeburn_) June 22, 2022
50 quadrillion BABYDOGE burning will take place
on June 3 KoinFinance We have reported that the BabyDoge community has voted to accelerate their token burn and has decided to reduce the current supply by another 50 quadrillion. The team, which plans events to make the day more special on the first birthday of the platform,
He started a community proposal on Snapshot to burn 50 Quadrillion BabyDoge tokens on Ethereum, giving the community a chance to vote on the BabyDoge burning. The following three options were presented to voters:
- Option 1: Yes, Burn them all at once.
- Option 2: Yes, burn in a 2-month period.
- Option 3: No, don’t touch it.
According to the latest update shared by BabyDoge’s official Twitter account, more than 2 quadrillion votes were cast. Apart from that, more than 91 percent of the votes were cast in favor of the burning. Voting is expected to end on June 28.
BabyDoge is popular with whales
Data provided by crypto tracking service WhaleStats shows that BabyDoge Coin recently made it to the list of most purchased digital assets among the top 100 whales on the BNB Chain network, formerly known as BSC.
Inspired by the original Dogecoin dog cryptocurrency and Elon Musk’s support of DOGE, meme token BabyDoge has made it into the top 10 coins on the top 10 most bought cryptocurrencies list by the top 100 BSC investors, according to the aforementioned crypto tracker.
Check the top 100 whales here: https://t.co/0SYnjw0xQs
— WhaleStats – the top 1000 BSC richlist (@WhaleStatsBSC) June 21, 2022
BabyDoge was recently listed on several exchanges
Singapore’s major central crypto trading hub, Coin Tiger, listed Baby Doge Coin (ABYDOGE) on June 15 and announced that the meme coin is now available for trading, paired with the USDT stablecoin.
Another important listing for BabyDoge took place yesterday, June 21, when Shanghai-based Chinese crypto exchange Deepcoin also announced it was adding support for the dog digital currency.
We are excited to announce a new listing! BabyDoge Trading Now Live! @BabyDogeCoin #BNB #BabyDoge #BTC #MEMES #WEB3 #NFT #cryptocurrency #Trading #altcoins #DEEPCOIN #Crypto pic.twitter.com/02pEBqhWHw
— Deepcoin (@Deepcoin_global) June 20, 2022
BabyDoge is trading at $0.00000001394 at the time of writing, trading with an increase of about 4 percent compared to the last 24 hours, the circulating supply of the cryptocurrency, which is ranked 232 on CoinMarketCap and has a total market cap of $ 155,986,824; after all burns, there are around 115,113,333.04 billion tokens.
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.