Baby Doge Coin (BabyDoge) is a lightweight cryptocurrency that calls itself a community coin. Launched in 2021, starting with a total supply of 420 quadrillion tokens, and the earliest recorded price was only USD 0.000000000175 or around IDR 0.0000026 (assuming an exchange rate of IDR 14,767 per US dollar).
According to the white paper, BabyDoge Coin’s goal is to bring crypto to more people and help dogs in need. The team behind it has donated to several animal charities, and the token itself has been successful, posting returns of over 3,500 percent at one point.
In trading, Monday (17/4/2023), BabyDoge experienced a price increase. Based on data from Coinmarketcap, the price of BabyDoge is IDR 0.00005371 with a 24-hour trading volume of around IDR 408.9 billion. BabyDoge managed to gain 3.74 percent in the past day.
Meanwhile, Coinmarketcap’s current ranking is 214, up from the previous position of 228. BabyDoge has a market capitalization of around IDR 6.1 trillion. Until now there has been a circulation of supply of 115 quadrillion BabyDoges from a maximum supply of 429 quadrillion BabyDoges.
Baby Doge Coin is a testament to how important the hype is in crypto. This successor to Dogecoin doesn’t have much to offer as an investment.
Baby Doge Coin’s main gimmick is the 10 percent fee on each trade. If you want to sell 1 million BABYDOGE, you will pay USD 100,000 in transaction fees. That fee will be halved, with 5 percent going back to all existing Baby Doge Coin holders and the other 5 percent being used to provide liquidity for trades.
Simply put, if you hold Baby Doge Coin, you get a discount on every trade. If you want to trade yours, then you will be charged 10 percent of the transaction. Baby Doge Coin is not the first crypto token to do this since several new cryptocurrencies were launched in 2021 with the same type of fees.
