Baby Doge, a cryptocurrency created “by fans of the Doge Coin online community” that “seeks to impress his father by showing his new improved transaction speeds & adorableness” has retaken its position as the most-traded token among Binance Smart chain whales amid a 150% bull run.
According to data from whale monitoring resource WhaleStats, the meme-inspired cryptocurrency became the most traded cryptoasset on the Binance Smart Chain amid a price explosion that saw it move up over 145% over the last 30 days.
BABYDOGE has seen significant accumulation by whales on the network, which are estimated to hold well over 45 trillion tokens. The cryptocurrency’s NASCAR debut was on July 10, with BABYDOGE’s branding featured on driver Brandon Brown’s No. 68 Chevrolet Camaro.
The cryptocurrency, it’s worth noting, was launched June 1 on the Binance Smart Chain with a mission to save as many dogs as possible, according to its website. To become the most traded token on BSC, it briefly flipped Ethereum on the network, data shows. Its trading volume has exploded amid a new year rally that saw BABYDOGE outperform BTC and other memecoins over the last 30 days.
Supporters of the meme-inspired cryptocurrency have been rallying to get the token listed on leading cryptocurrency exchange Binance through a campaign the trading platform launched where it asked users to make wishes in a bid to make some of them come true.
The cryptocurrency is “hyper-deflationary” as it is designed to become more scarce over time. Baby Doge holders receive more tokens automatically as every transaction on its network incurs a 10%, out of which 5% are distributed among token holders, and half are added to its liquidity.
The views and opinions expressed by the author, or any people mentioned in this article, are for informational purposes only, and they do not constitute financial, investment, or other advice. Investing in or trading cryptoassets comes with a risk of financial loss.
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