Baby doge price prediction: How will the dogecoin rival trade?
The meme project BABYDOGE has amassed a strong community since its launch in June 2021. Inspired by the popular Dogecoin (DOGE), it has more than 1.5 million followers on Twitter.
The team behind Baby Doge wrote in its whitepaper: “Baby Doge Coin has learned a few tricks and lessons from his meme father, Doge.”
Its relevance in the crypto community was demonstrated recently through product updates and collaborations with industry giants, including Binance US.
But this has not stopped the token from being caught in this year’s crypto winter and the recent crash.
So what is Baby Doge, and how does it differ from other popular cryptocurrencies? Does Baby Doge have a future? Here we will attempt to answer your questions, and share Baby Doge news, and analysts’ price projections for BABYDOGE.
Origins: Dogecoin-inspired
BABYDOGE is a dog-themed cryptocurrency built on crypto exchange Binance’s layer-1 blockchain network BNB Chain. The token launched in June 2021 and is considered a meme coin, alongside other dog-themed cryptocurrencies such as dogecoin and shiba inu (SHIB).
Baby Doge is among a growing number of cryptocurrencies based on the Shiba Inu dog internet meme, from Dogecoin to Shiba Inu, Floki Inu (FLOKI) to Dogelon Mars (ELON) and many more.
Dogecoin launched as a joke, parodying the proliferation of cryptocurrency projects. Over time, however, it has developed a strong community focused on the potential for small investors to get involved. According to BABYDOGE’s whitepaper, it was born on 1 June 2021, “with the goal of being a decentralised meme project with a purpose”.
Tokenomics and features: Deflationary token
Baby Doge’s native token protocol features three basic functions: reflection, liquidity pool acquisition and burn. Each trade incurs a 10% transaction fee, which is split in two ways:
5% is distributed automatically to token holders as a reward
5% is split, with half sold into Binance Coin (BNB) and the other half added to the BABYDOGE/BNB liquidity pair on the PancakeSwap decentralised exchange (DEX). The majority of the initial liquidity pool tokens are locked and some burned.
According to its website, BABYDOGE token is designed to be a deflationary token. A dead wallet holds more than 45% of its supply, with more coins being burned with each on-chain transaction. The token was “originally created as a meme joke with 420 quadrillion supply”, its website said.
As of 29 November, the circulating supply of BABYDOGE stood at more than 115 quadrillion tokens while its total supply stood at 231.9 quadrillion tokens, data from CoinMarketCap showed.
Baby Doge features a decentralised exchange (DEX) called Baby Doge Swap and non-fungible tokens (NFT) called BabyDogeNFT. The project also has a designated charity wallet that receives redistributions to be donated to its animal welfare charity partners.
The project has 21 validators and its on-chain governance is based on proof-of-staked authority consensus, according to its website.
BABYDOGE was ranked the 221st largest cryptocurrency with a market capitalisation of $131m, as of 29 November. According to CoinMarketCap, BABYDOGE is currently the fourth biggest meme coin in terms of market capitalisation, behind DOGE, SHIB and ELON.
Baby Doge, doo, doo, doo, doo, doo,
— Elon Musk (@elonmusk) July 1, 2021
Baby Doge, doo, doo, doo, doo, doo,
Baby Doge, doo, doo, doo, doo, doo,
Baby Doge
Price performance: The rise of meme coins
Baby doge price chart
Source: CoinMarketCap
Historical chart data show that BABYDOGE was trading below $0.0000000001 at the time of its launch in June 2021. On 4 July 2021, the token almost doubled to an all-time high of $0.00000002 after celebrities Lil Mook and Elon Musk tweeted about the token, attracting wider investor attention.
As the hype around BABYDOGE started cooling, its price dropped back to about $0.0000000004 in early September. However, BABYDOGE would see its best monthly performance in October 2021 as the token closed the month six times higher amid a wide cryptocurrency market rally.
BABYDOGE prices eased in the months that followed, only to surge again in January 2022 as the token closed the month 130% higher to hit its highest since July 2021. However, the token was unable to break its all-time high level.
Baby doge coin has not been immune to the crypto winter of 2022. BABYDOGE hit a seven-month low of $0.000000000823 on 12 May 2022.
However, the cryptocurrency then saw a busy August. Its swap exchange launched on the BNB chain testnet, an environment for developers to experiment with their own applications.
The month also saw numerous partnerships, including with the crypto fitness app IMOV, along with several collaborated events that were hosted by Binance US, Decentraland (MANA) and others.
???? Highlight of @BabyDogeCoin in August????
— BSCDaily (@bsc_daily) September 1, 2022
August has been a great month for our $BABYDOGE????#BABYDOGE has been present in significant events & projects, collaborating with exceptional partners & listing on new exchanges and wallets????
Let's dive into $BABYDOGE in August below???? pic.twitter.com/kKZLGHn3L5
Baby doge was listed by the Guardarian and CetoEX exchanges that month as well, adding more options for those looking at how to buy baby doge. It had significant trading volume on other exchanges, including PancakeSwap (CAKE) and Gate.io.
While it has recovered slightly from its May dip, the bearish trend has stuck with the meme token and it fell to a low of $0.000000001094 on 19 September.
The BabyDogeSwap product passed $25m in total value locked on 25 October and had climbed to $27m at the time of writing, according to Defi Llama.
BABYDOGE continued falling over the following months and dropped to a 90-day low of $0.000000001546 on 6 November. This followed wider market trends after the collapse of the FTX cryptocurrency exchange.
However, there is excitement brewing for the meme coin as it updated its swap product. Now, investors can see how many coins will be burned along with each swap. It is also gearing up to its burn event on 1 December.
At the time of writing, on 29 November, baby doge was trading at $0.000000001132 and was up 8% in the past seven days. However, the meme coin was still down 13% in the previous month.
What is the potential future of baby doge coin? Can it replicate the strong gains seen at its launch, or has the opportunity passed? Below, we look at some of the latest expectations from forecast sites.
Baby doge price prediction for 2023 and beyond
As of 29 November 2022, CoinCodex’s short-term baby doge coin price prediction was bearish and indicated that the token’s value could drop by 21% by the end of the year.
For the longer term, the algorithm-based website WalletInvestor’s BABYDOGE price prediction for expected the token to have fallen to $0.00000000012 in 12 months’ time. WalletInvestor also expected the bearish trend to stick with the token. Its baby doge price prediction for 2025 projected that the token will have plummeted to $0.00000000007 at the beginning of that year.
Meanwhile, DigitalCoinPrice was bullish about BABYDOGE’s price performance for the long term and suggested it could end 2022 at $0.00000000134. According to its baby doge price prediction for 2030, DigitalCoinPrice expected the token to trade at an average price of $0.0000000156.
Finally, Gov.capital’s baby doge crypto price prediction saw the token becoming worthless by the end of this year.
Analysts’ and algorithm-based baby doge future price predictions can be wrong, and forecasts should not be used as a substitute for your own research. Always conduct your own due diligence, and remember that your decision to trade or invest should depend on your risk tolerance, expertise in the market, portfolio size and investment goals.
FAQs
Is baby doge a good investment?
Cryptocurrencies are risky investments, and meme coins like baby doge (BABYDOGE) are especially high-risk. Whether BABYDOGE has a future could depend on whether it finds a use that leads to widespread adoption and activity across cryptocurrency markets. With new coins being launched regularly, a rival meme coin could emerge and capture investors’ attention.
Always conduct your own due diligence and remember that your decision to trade or invest should depend on your risk tolerance, expertise in the market, portfolio size and investment goals.
Will baby doge go up or down?
At the time of writing, forecasters are divided. WalletInvestor expected BABYDOGE to continue falling, whereas DigitalCoinPrice projected a steady rise for the meme token.
It is important to keep in mind that cryptocurrency markets remain extremely volatile, making it difficult to accurately predict what a coin’s price will be in a few hours and even harder to give long-term estimates. Analysts and algorithm-based forecasters can and do get their predictions wrong.
If you are considering investing in cryptocurrency tokens, we recommend that you always do your own research. Look at the latest market trends, news, technical and fundamental analysis, and expert opinion before making any investment decision. Keep in mind that past performance is no guarantee of future returns.
Should I invest in baby doge?
Baby doge is a meme cryptocurrency like dogecoin and shiba inu. Meme coins are known to be highly speculative, and are often considered to hold near-zero utility.
Whether BABYDOGE has a future could depend on whether it finds a use that leads to widespread adoption. With new coins being launched regularly, a rival meme coin could emerge and capture investors’ attention.
Always conduct your own due diligence and remember that your decision to trade or invest should depend on your risk tolerance, expertise in the market, portfolio size and investment goals. Never risk money you cannopt afford to lose.
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