Meme coins are becoming significant in the crypto space and gaining adoption. Internet jokes and memes inspire these meme coins cryptocurrencies like Dogecoin. Shiba Inu is another example of a meme coin created to make cryptocurrency adoption interesting. Following the success of Dogecoin, a new project named Baby Doge Coin was developed, and it is fast gaining popularity. Interestingly, the two coins are not directly related.
Baby Doge Coin (BABYDOGE) was created by the original Dogecoin funs. Its creation was inspired by the limitations of Dogecoin and sought to solve them. The puppy-themed logo in Baby Doge increases adorableness to the coin. Developers have included a few aspects to overcome cryptocurrency limitations, such as speed and scalability. Meme coins value is driven up by the hype surrounding the coin. Baby Doge collectable token protocol makes it stand out, appealing to crypto stars and fans. Elon Musk is one of the crypto stars who significantly support meme coins. He is recognized as the father of DogeCoin. Tesla’s CEO once twitted a popular baby song, “Baby Doge, doo, doo, doo”, and Baby Doge’s prices rallied to bullish levels. Read on to know about Baby Coin.
Why Baby Doge was developed
Baby Doge Coin developers sought to improve the technical limitations experienced by customers in the Dogecoin project. Some of the improvements made aimed to offer better scalability and faster transactions. Instead of using the proprietary blockchain, BabyDoge leverages Binance Smart Chain, which is advanced, ensuring high scalability and speedy transactions. Unlike Ethereum, which only allows 13 transactions per second, Baby Doge enables a block of transactions every 5 seconds. Other reasons include:
Enhancing security
Security is a primary concern to customers, especially for new coins. Baby Doge Coin developers concentrated on making it more secure for its users. Due diligence with Dessert Finance was undertaken, and the Baby Doge network did exemplary. Dessert Finance provides BSC projects with multiple third-party audits, which Baby Doge completed and passed.
Inflation
Increased coin supply in the market can lead to a cryptocurrency losing value in the future. When a coin adopts an inflationary model, it will have fewer investors because many fear inflation effects. Inflation is a consistent decrease in value, making a coin loses its buying power as an asset. An influx in prices, followed by low demand for tokens, is the primary cause of inflation. Baby Doge manages to eliminate inflation through its hyper deflationary network setup.
The total Baby Doge coins in supply will reduce in time, making it scarce. The scarcity of coins will drive its demand up and differentiate it from other cryptocurrencies will trillions of coins in supply. In addition, the network burned 40% of its coins which has significantly increased its demand. The deflationary model was essential in ensuring that the coins are scarce and the currency stores its value. This means that the coin can reach $1 in the future and creates confidence in investors to continue buying the coin.
Rug Pulls
Baby Doge developers sought to protect investors from Rug Pulls and build long-term investor confidence. Rug Pulls usually leads to a drastic fall in prices and massive losses to investors. To reduce the chances of Rug Pulls, the Baby Doge network integrates liquidity locks that ensure a certain number of tokens is not withdrawn from the platform’s liquidity pools. If the developers suddenly remove all the liquidity from the Baby Doge Project, users and their projects will be protected.
Benefits of investing in Baby Doge Coin
Baby Doge network is a static reflection system that significantly benefits its investors. A static reflection system automatically distributes 5% of the total gained from a transaction to token holders. No interaction from the holders’ side is required for the 5% tokens per transaction to be deposited; it occurs automatically. Users can stake their tokens to earn low-risk rewards apart from the 5%. The Shiba Inu puppy image on the coin’s logo is also a primary aspect making Baby Doge so adorable. Its cute design makes it easy and exciting for holders to collect their favourite non-fungible tokens.
Charity wallet
Investing in Baby Doge enables you to participate in charity. Baby Doge original mission was to rescue dogs in needy situations. Its network’s protocol integrates a charity wallet that holds donations for greater causes. Eligible charity organization can submit their forms to benefit from the set up wallets. Best Friends Animal Society has already benefited with $100,000 from Baby Doge charity wallet. Another nonprofit helping depressed people benefited from the wallet with a $75,000 donation. The animal-inspired artwork at the nonprofit organization helps depressed people overcome their situations.
Baby Doge is accepted globally
Baby Doge holders enjoy a wide selection of online retailers where they can spend their coins. It has partnered with CoinPayments.net to enhance usability, enabling customers to use it for purchasing purposes.
Burns
Baby Doge coin is arguably an excellent long term investment as its value continues to rise. Its network incorporates burn protocols that send 5% of each transaction to addresses. The 5%, in addition to 40% burned coins, ensures a continuous decrease in supply. Burn protocols work together with value control mechanisms.
How Baby Doge works
Baby Doge coin is a BSC project whose ecosystem supports DeFi functionalities. It is an excellent investment alternative due to its lower fees and speedy transactions. Here is how the network works.
Baby Doge Coin crypto card
Baby Doge has a network’s crypto debit card that enables customers to purchase like they would with fiat currency. An intuitive Dapp supports the debit card and allows users to trade, buy and sell using their tokens from the Baby Doge Dapp. Once you swap the debit card at the point of sale, it is automatically converted to fiat currency. One can top up their account or go through their transactions.
Liquidity pools
Baby Doge coins have liquidity pools that hold 5% from each transaction. It’s part of the network’s liquidity strategy to lock some of these funds. Users can earn rewards in Baby Doge coins for providing liquidity.
TextBit
TextBit feature provides users with a seamless and frictionless system that facilitate international payments. With the TextBit feature, you can spend your Baby Doge coins and send payments to other customers. You need other users’ phone numbers and the amount you wish to pay. The EEA and the UK are testing the TexBit system, and it will soon be available globally.
How to buy Baby Doge coin
Baby Doge Coin is traded on the following platforms
CoinEx– this global cryptocurrency exchange was started in 2017 and recently listed Baby Coin to trade against USDT.
BitYard– was started in 2019, and it allows Baby Doge trading among other 100 cryptocurrencies.
Gate.io– it is among the reputable exchanges that trade Baby Doge. It was started in 2013.
Bottom line
Bay Doge Coin has solved usability, scalability and transaction speed issues experienced with most other cryptocurrencies. It could win a wave of popularity as it is the norm for meme coins and drive the prices even higher. You can quickly join Baby Doge’s ecosystem, have fun collecting the NFTs and enjoy spending your coins in any way you like. Customers also don’t want to miss out on the 5% transaction fee awarded when transactions occur on the network.
