Baby Dogecoin Review – Price Prediction from [2022 to 2030]

Baby Dogecoin

Do not be fooled by the early returns. Baby Dogecoin has the potential to deplete your money.

Baby Doge Coin has been rapidly gaining followers and new purchasers since its June 1 introduction. In less than two weeks, the price increased by more than 1,000 percent. In three weeks, it reached a market capitalization of $200 million and over 160,000 holders in four weeks.

In this article we will review the much talked about Baby Dogecoin.

What is the Baby Doge Coin?

Baby DogeCoin is a cryptocurrency modelled after another cryptocurrency modelled after a meme. It was built by Dogecoin enthusiasts and community members. Dogecoin, which exploded in popularity at the start of the year, is a cryptocurrency that began in 2013 and was inspired by a popular meme. Along with being newer, Baby DogeCoin processes transactions almost ten times faster.

Apart from the name, there is no connection between Baby DogeCoin and Dogecoin. It’s possible that the name was chosen solely to garner attention.

Baby DogeCoin’s aim is assisting rescue canines in need. On June 24, it announced a donation of $75,000 to PawsWithCause.

Update December 2: The price of Baby Doge Coin is $0.000000002097 at the time of writing, with a 24-hour trading volume of $7,559,693. In the previous 24 hours, the price of BABYDOGE has decreased by -10.0 percent. There are 170 Quadrillion BABYDOGE coins in circulation and a total supply of 420 Quadrillion BABYDOGE coins.

The coin is currently ranked #2868 on CoinMarketCap, with a market capitalization of not provided.

The Baby Doge Coin’s operation

Baby DogeCoin is one of the numerous new cryptocurrencies that charge a transaction fee to encourage users to hold on to them. Each time you exchange Baby Doge Coin, a 10% fee is applied. This is what happens:

  • 5% is divided proportionately to all Baby DogeCoin
  • 5 percent is split and utilised to fund a liquidity pool on PancakeSwap with Baby DogeCoin and Binance Coin (BNB).

In a nutshell, selling Baby DogeCoin results in a 10% loss. If you decide to keep it, you will receive a percentage of the charge that everyone else pays when they sell. This is rapidly gaining popularity. Here are a couple additional cryptos that perform the similar function:

It’s a well-worn gimmick. And, after a brief period of prosperity, those three cryptocurrencies saw significant price decreases. That is not a good sign for Baby Doge Coin.

Tokenomics

Baby DogeCoin, like other new cryptos, has a big supply and a low price. The project started with 420 quadrillion tokens. The developers are manually burning (destroying) tokens, and have already destroyed over 125 quadrillion.

The pricing is where it becomes a little more difficult to follow, as it is only worth a fraction of a penny. Here are some of Baby DogeCoin’s highs and lows since its introduction, according to CoinGecko data:

  • On June 9, the earliest known opening price was $0.000000000175.
  • On June 24, it reached an all-time high of $0.000000002014, a 1,050 percent rise.
  • By the next day (June 25), it had fallen to $0.000000000799, a 60% loss.
  • On Oct. 30, BabyDoge reached a high of $0.000000005220 before retracing and trading sideways for approximately 14 trading sessions.
  • On Nov. 18, the cryptocurrency entered a downtrend, with the daily chart showing consecutive lower highs and lower lows, with the most recent lower high recorded at $0.000000002589.

As you can see the price fluctuations are massive and the trend has been bearish since then until now as we enter December of 2021.

Future plans

The Baby DogeCoin whitepaper and plan detail a diverse set of objectives. To begin, the following are some of the most serious ones:

  • Become a member of the world’s largest cryptocurrency exchanges.
  • Introduce Baby Doge Swap, a decentralised crypto exchange.
  • On the Baby DogeCoin website, accept credit card crypto payments.
  • Create a wallet in which holders can keep track of their rewards.
  • Initiate the establishment of a market for non-fungible tokens (NFTs).

November 14 Update: BabyDogecoin reached 1 million holders.

Additionally, it’s worth noting a few of the more lavish and ridiculous schemes:

  • Give away a Tesla when Baby Doge Coin hits a market cap of $250 million.
  • Carve a Baby Doge into a mountain with a market valuation of $100 billion.
  • At a $500 billion market valuation, establish a Baby Doge religion.

With the promise of large returns, many individuals are jumping on the Baby DogeCoin bandwagon and purchasing it. Here are the blunders to avoid to ensure that everything runs properly.

1. Not conducting preliminary investigation on Baby Doge Coin

To begin, purchasing Elon Musk Baby DogeCoin is not a hasty move. This is a brand-new, very volatile cryptocurrency, and there is a significant risk of losing money. Elon Musk has never endorsed it officialyy as of 2nd December, 2021.

If you’re interested in Baby DogeCoin as a result of something you saw on Reddit, YouTube, or elsewhere about how it’s going to be huge, take a moment to check its website and whitepaper first. Conduct your own study rather than take someone else’s word for it that it will make you a fortune.

Elon Musk Baby DogeCoin has been successful thus far because of the buzz around it and it’s similarity in name to Dogecoin which has dominated Elon Musk’s tweets, but we cannot say it is “Elon Musk Baby Dogecoin” not yet.

2. Choosing the incorrect crypto exchange

Baby DogeCoin crypto is not listed on any of the main cryptocurrency apps or exchanges. With the proliferation of cryptocurrencies, those exchanges are discriminating in terms of which ones they offer. Baby Doge Coin did not make the cut as a new, relatively small coin and that’s why people often wonder how to buy baby dogecoin.

Where can I buy Baby Dogecoin?” PancakeSwap is now the most popular marketplace for purchasing Baby Doge Coin. This is a decentralised exchange in which users donate the crypto to trade.

PancakeSwap’s trading method may be different than what you’re used to, but it’s not overly complicated. To make a deal on the PancakeSwap website, you must first connect a crypto wallet and then navigate to the exchange page.

3. Anticipating to purchase it in cash

PancakeSwap is not an exchange where you can deposit cash and use it to purchase crypto. It allows you to exchange only one cryptocurrency for another. After connecting your crypto wallet to PancakeSwap and visiting its exchange page, you can choose which crypto to exchange for Baby DogeCoin. Binance Coin (BNB) is a well-liked option.

If you do not already own any crypto, you must first purchase some on another exchange and transfer it to a crypto wallet. Here is a step-by-step explanation of how this works:

  • Purchase a single Binance Coin.
  • Transfer your Binance Coin to a supported crypto wallet, such as Metamask or the Binance Chain Wallet.
  • Click “Connect” on the PancakeSwap exchange page.
  • Join PancakeSwap with your wallet.

4. Failure to set the slippage tolerance to 12%

There is one further critical idea to understand when trading crypto on PancakeSwap, and that is slippage. Slippage is the difference in price between the time you submit a deal and the time it is executed. On PancakeSwap, you can specify your slippage tolerance, or the amount of price fluctuation you are ready to accept in order to complete your deal. This setting can be adjusted as follows:

  • Navigate to the PancakeSwap page.
  • Select the options icon
  • Select one of the predefined slippage tolerance values or enter your own.
  • With highly volatile cryptocurrencies such as Baby DogeCoin crypto, a trade with a limited slippage tolerance may not work. The Baby Doge Coin team suggests a slippage tolerance of 12%.

5. Spending an excessive amount of money on it

Take care with the amount of money you invest in Baby Doge Coin. Numerous cryptocurrencies similar to it have begun strongly and then faded into obscurity. They leave behind a large number of dissatisfied investors who purchased around the peak only to see their investments depreciate in value.

Consider Baby Doge Coin like you would a lottery ticket. If you’re truly committed to giving it a try, invest a tiny amount of money with no expectation of profit.

Fundamental Analysis of Baby Doge coin (BABYDOGE)

Dogecoin’s success sparked the creation of BabyDoge. Yes, the prank has now gotten out of hand. The Baby Dogecoin community generated the newborn dogecoin on June 1, 2021, and the first recorded Baby Dogecoin price was $0.000000000175.

Additionally, the corporation has attempted to increase its visibility through marketing campaigns and charitable events. For example, the Baby Doge community has donated more than $100,000 to the Metro Atlanta animal shelter to aid in the rescue of dogs.

The following are some of Baby Dogecoin’s characteristics:

  • Communal support: Baby Dogecoin is a truly decentralised cryptocurrency that is backed by an active community.
  • Instant Rewards: 5% of the value of each transaction in the Baby Doge network (buy or sell) is distributed to existing holders (HODLers). This means that simply by keeping Baby Doge in your wallet, you earn more. Observe how your Baby Dogecoin grows day by day.
  • Locked LP: The order book has been completely liquid. Liquidity contributions amount to 5% of transaction fees. It eliminates price fluctuation and gradually increases the floor price.
  • Baby Dogecoin Increases in Value: it is a deflationary cryptocurrency that aims to become more scarce over time. All Dogecoin owners will receive additional Baby Doge as long as they keep their coins in their software-generated wallets.

Is Baby DogeCoin a good investment?

No Baby DogeCoin is not a good investment and purchasing Baby DogeCoin is not advised. Nothing distinguishes it as a cryptocurrency, and there are multiple concerning red flags. It all begins with the name. The sole reason a cryptocurrency is called “Baby DogeCoin” is to capitalise on Dogecoin’s fame.

Would the developers have picked such a moniker if the crypto was strong enough to stand on its own?

With ambitions to carve a Baby Doge into a mountain and establish a religion, the roadmap does not appear wholly serious. Given that this is a memecoin, the silliness is understandable. However, most investors would be hesitant to invest in a startup that portrayed its business strategy as a joke. Baby DogeCoin is not exempt from scrutiny simply because it is a cryptocurrency.

Cryptocurrency is inherently unpredictable, and Baby Doge Coin could benefit from another surge in popularity to increase in value. Alternatively, the hype train could implode, as it has for other cryptocurrencies similar to this one. If you’re considering investing in crypto, it’s best to focus on long-term initiatives.

At Solutiontales we make it easy to understand the throes of cryptocurrencies, but our words should not be taken as a financial advice. Remember, a wise investor can make money in a bull or bear market when given the right data.