What Is Baby Doge Coin (BABYDOGE)? The Rival Of DOGECOIN
A humorous cryptocurrency that refers to itself as a community coin is Baby Doge Coin (CRYPTO:BABYDOGE). It was introduced in 2021 and had a starting supply of 420 quadrillion tokens. The earliest reported price was just $0.000000000175.
According to the “Woof Paper,” Baby Doge Coin’s objectives include making cryptocurrency accessible to the general public and aiding stray dogs. The group behind it has made donations to various animal charities, and the token itself has been profitable, with a return of more than 3,500 percent at one point.
The Baby Doge Coin is proof of how much in bitcoin hype counts. You’ll see that this Dogecoin (CRYPTO:DOGE) replacement doesn’t have anything to offer in terms of investing potential.
What Makes Baby Doge Coin Unique?
A 10% fee on each trade is Baby Doge Coin’s key marketing ploy. You must pay a transaction charge of $100,000 to sell 1,000,000 BABYDOGE. The fee is divided in half, with 5% going to all current Baby Doge Coin holders and the remaining 5% being used to create trading liquidity.
Simply put, you get a share of every trade if you own Baby Doge Coin. You will be required to pay 10% of the trade if you want to trade yours. The same kind of charge was used in the launch of a number of new cryptocurrencies in 2021, therefore Baby Doge Coin is not the first cryptocurrency token to do this.
Baby Doge Coin has nothing that distinguishes it from those other cryptocurrencies. Based on its brand and a successful social media marketing campaign, its price skyrocketed.
Where Baby Doge Coin Came From
On June 1, 2021, Baby Doge Coin became live. The founder is reportedly Christian Campisi, who also founded Save Lands and Pawz, despite the fact that neither the website nor the white paper provide any information on the development team. In July 2021, Campisi posted a video to his YouTube channel in which he addressed the Baby Doge Coin community and claimed to be the cryptocurrency’s creator.
Despite having a starting quantity of 420 quadrillion Baby Doge Coin tokens, over 43 percent (180 quadrillion) were burned, meaning they were destroyed. The development team has kept burning tokens every month since then. These burns are a means to control the supply and may raise demand, however they don’t necessarily result in higher prices.
How Baby Doge Coin Works
Being a BEP-20 crypto token, Baby Doge Coin is based on the Binance Smart Chain (BSC). The BSC’s ability to operate more quickly and effectively than many other blockchains is one of its advantages. Low gas (transaction) fees and processing times of as little as five seconds are made possible by this. If you want to know how to earn free baby dogecoin then keep reading.
The Baby Doge Protocol levies a 10% fee on each transaction, as was already mentioned. It performs a “reflection,” which is the redistribution of half of that fee (or 5% of the original transaction) to all current Baby Doge Coin holders.
Can I Make Passive Income With Baby Doge Coin?
Baby Doge Coin can be used to generate passive income. In fact, one of the main advantages of owning it is that. You will get reflections as a token holder, which are a portion of the transaction costs. Your blockchain wallet’s balance will rise only for having Baby Doge Coin. Click Here To Earn Free Baby Doge
The catch is that you’re getting BABYDOGE tokens in this situation. The value of that passive income will be very low if the price drops precipitously.