Dogecoin Gives Birth! What Is Baby Doge, Price, Social Media Hype, and Investment Potential

Dogecoin is now a father to a son and his name is Baby Doge. A new crypto token was born, making its way into the market.

Now, Baby Doge is trying to "impress his father."

What Is Baby Doge?

According to the Baby Doge Coin website, the new coin was created by fans and members of the Dogecoin online community. It has learned a few tricks and lessons from the older meme coin and offers new and improved transaction speeds as it runs on the Binance Smart Chain.

The new meme coin is "hyper-deflationary" with an integrated smart staking system, allowing for more Baby Doge coins to be automatically added to your wallet after every transaction. Holders automatically receive a five percent fee for every transaction that happens in the Baby Doge network.

Unlike Dogecoin with no supply cap, Baby Doge is a deflationary coin, which means it is designed to become more scarce over time. And unlike Ethereum Max with no background information, Baby Doge has its white paper and independent audit attached to its official website.

It offers locked liquidity and it also has a designated charity wallet to support its charity partners.

Currently, it just passed over 155,000 holders, which means they are in Phase Three of their Roadmap of 100,000 holders and 100,000 telegram members, pushing for large influencer marketing. It has listings on major cryptocurrency exchange platforms, and offers credit card for crypto live on their website.

To illustrate the rate this new Baby Doge coin is growing, it is about 27 days old and reached 150,000 holders on the 26th day.

For the Baby Doge coin, "community is first and foremost." It looks like it works closely with Dogecoin, providing transparency and fairness to the community. It has also partnered with the charity Paws with Cause to help shelter animals across the USA.

The website also detailed a six-phase roadmap with the end goal to first and foremost donate to help build an animal sanctuary at a $50 billion market cap. At $100 billion, the community will gather to carve a baby doge into the face of a large mountain. When the coin reaches $500 billion, the community will form a baby doge meme "religion."

Social Media Hype around Baby Doge Token

As its father Dogecoin's offspring, the internet has received the baby token with open arms. It has been trending on Twitter and has opened many discussions on Reddit. It has now grown a steady following on its social media platforms and has also grown quite a community.

The official Twitter account of Baby Doge has amassed 61,400 followers as of writing. Although not yet a verified account, it just might very soon earn its blue check.

One notable celebrity currently following the Twitter account is rapper Soulja Boy. Dogecoin's champion and Tesla CEO Elon Musk has been too busy tweeting about SpaceX's endeavors, and probably celebrating his birthday, to comment on his favorite meme coin's son.

Now that it is on Phase Three of its roadmap, expect more mainstream personalities to get on the Baby Doge hype in the upcoming weeks.

Baby Doge Price, Where to Buy It, and Investment Potential

As of writing, Baby Doge is worth $0.000000001491 (that's eight zeros) on CoinGecko. In May, it was worth $0.0000000000018 (with eleven zeros). Earlier this month, Benzinga reported that the baby meme coin was at $0.0000000003950 (with nine zeros) which meant it grew by 20,844 percent and had an average of about 1,213 percent of gain per day.

You can currently purchase Baby Doge through PancakeSwap, or on Binance and Coinmama. It is also listed on CoinGecko and CoinMarketCap as part of its Phase Two.

Seeing its novelty, the price of Baby Doge is expected to grow. Short-term rises are certainly possible, GameRevolution said and this could be an exciting time for traders and investors.

The 2021 price prediction for the baby meme coin looks optimistic overall. And with its incentive for its holders, it does sound enticing. But with little to no historical information to draw a sound analysis from, and with market volatility a norm, it is best to enter any new trade with caution.

Investing in cryptocurrencies, whether they are older and more established ones like Bitcoin or newer ones like Baby Doge, can be tricky, Deseret noted. Like any investment, it has its risks. Before investing your money in a cryptocurrency, invest time in doing your research.