Whenever a trade with Baby Doge is finished, users have priced a 10% transaction fee. This fee is additionally redistributed to token holders, and the most advanced investors get the most significant portion of these rewards.
Baby Doge is the current favourite of crypto enthusiast and Tesla CEO Elon Musk. Cryptocurrencies have genuinely popped in 2021, and alternative tokens or altcoins are ruling the scene. The year began with the Dogecoin explosion, acknowledgements to Elon Musk and his tweets before we held the Shiba Inu coin, and now, someone has developed up with the Baby Doge.
A relatively anonymous cryptocurrency till a few days back, Baby Doge nearly doubled in value after Musk’s tweet on it on Thursday. Musk employed a viral Baby Shark song from last year and used it to connect to Baby Doge.
The creators of Dogecoin had merged the famous Shiba Inu dog from experience with the developing concept of cryptocurrencies. Doge has forever been linked with the Shiba Inu dog. This statement has become so popular that others also began using it. The dog got its individual Shiba Inu coin earlier this year, and now we hold the Baby Doge with the profile of a Shiba Inu baby.
The coin’s Twitter account asserts it is less than a month old as it debuted 22 days ago. Baby Doge’s website honours “fans and members of the Dogecoin online community” for promoting it. The website also continues that this coin arrives with an “integrated smart staking system”, which enables people to attach more cash to their wallets with every transaction.
Baby Doge has a market capitalization of $0.2 billion, which may not sound big in front of Dogecoin or Bitcoin but is vital for a comparatively new coin found less than a month ago. Unfortunately, Dogecoin itself was founded as a joke and lacked the fundamentals like Bitcoin or Ethereum. All the new coins motivated by it result from social media remarks and seem even weaker.
Even though Elon Musk has raised the price of Baby Doge, it should not be considered too seriously, given that it is a spinoff on a previously existing meme coin. However, Musk’s tweet didn’t sustain a positive response, and many crypto investors criticized the Tesla chief for handling the crypto market.
Buy Dogecoin in India
In India, you can purchase Dogecoin from Indian exchanges like WazirX, BitBnS and international businesses such as Binance. To keep and withdraw the money, you can manage your UPI app like GooglePay or Phonepay and Bank Transfer for withdrawing cash from the sale.
The most reliable way would be to create a Binance Account. The token is registered on Binance Smart Chain. You’ll require first to initiate a Binance account to get started. While Baby Doge isn’t placed on any centralized exchanges, you can purchase it on Binance’s DEX, PancakeSwap. Before using PancakeSwap, you’ll need BNB tokens.
The requirement to have BNB tokens in your crypto wallet before applying PancakeSwap is necessary. Once that is done, you can hit PancakeSwap.finance and attach your wallet to the website. After your wallet is connected, go to the market, and then you can get Baby Doge by swapping the Binance tokens on the platform.
The credibility of Baby Doge
Baby Doge appears to be the new gossip among crypto enthusiasts and not because of its technical abilities but for its pure ‘adorableness’. Baby DogeCoin is a deal-breaker, or Elon Musk incessantly hyps up its value to keep its bigger daddy, the Dogecoin, relevant. Unlike its predecessor, Dogecoin, whose stock can be infinite, Baby Doge is deflationary in theory, meaning that it values scarcity. The lower supply/higher demand dynamics also drive the price higher, if only for the short term.