BabyDoge has visibly emerged as a huge trendsetter early in the year, with the Doge-inspired meme token blowing up on social media platforms across the world for most of January 2022.
BabyDoge’s Golden Period
By January 16, BabyDoge’s Army had pushed the fast-rising star of the memecoins community all the way to the top, as the digital currency swiftly broke its previous all-time high.
Its users even surpassed rival-memecoin Shiba Inu, which boasts one the most active crypto communities on social media platforms. Along with this milestone, BabyDoge had also overtaken Ethereum as the most-traded coin among the biggest BSC Whales during the same period.
The Aftermath
However, it seems that soon after the memecoin had its time to shine as a dominant token in the crypto scene, it faced some hiccups in the aftermath of its first and massive golden period too. The token still hails from a community that’s going as strong as ever, but its bull run had evidently subsided by the end of January.
To counter this, BabyDoge recently burned tokens worth over $20 million, thereby promoting a positive investment image by bumping up its market value with this move.
4.8 quadrillion #BabyDoge burned! 🔥
— BabyDoge (@BabyDogeCoin) February 1, 2022
What the meme 🤯
Proof of burn: https://t.co/lxMkJeyzXX pic.twitter.com/4fVr3rW63T
The transaction happened on 1st Feb, counterattacking on the beginnings of a standstill in value that the pupcoin seems to be facing today. Nonetheless, at the time of publishing this article, BABYDOGE’s price is down 4.4% in the last 24 hours, with a 1.5% downtrend in the past 7 days.
The burn apparently came in celebration of the Lunar New Year as well, marketed as a bid that’s targeted towards giving back to its investors, especially to its Chinese supporters.
5 hours until burn 🔥
— BabyDoge (@BabyDogeCoin) February 1, 2022
4.8 quadrillion to be burned!
BSC scan estimates it to be worth up to $20 MILLION 🤯https://t.co/YH3dh4QxZ4 pic.twitter.com/KgIbsMcNhr
Regardless of its latest downturn in value, BabyDoge passed over 900k Twitter followers within the current week as well (or as of Feb 1), accomplishing a steady stream of surging traction across the globe.
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