Crypto News

Baby Doge coin up 131% in 2 weeks as other meme coins bleed: why is it rallying?

Although dog-themed coins like Shiba Inu (SHIB) and Dogecoin (DOGE) have been hard hit in the past two weeks, Baby Doge coin maintained a bullish momentum all through.

Shiba Inu registered a 4% decline over a period of two weeks while Dogecoin has only managed to garner a 2.4% rise within the same period.

Staring 2022 on the wrong foot

So far, 2022 has been a terrible year for the crypto market at large and dog-meme coins have not been spared the rod.

Bitcoin, the coin that commands the largest share within the crypto space, is struggling to remain above $40,000 after dropping from an all-time high above $68,000. Ethereum, the second-largest cryptocurrency by market cap, is also struggling to remain above $3,000 after dropping from above $4,800.

For BabyDoge, 2022 has been an incredible year so far. The coin has been on a sprint since the year began. It started the year at around $0.000000001903 and CoinGecko shows that it has rallied to $0.000000004087 – up about 131.1%.

What is remarkable about Baby Doge coin is that it has managed to keep the Bull Run going in the ever-choppy world of altcoins and cryptocurrency at large. It has bitten the likes of Bitcoin, Ethereum, Shiba Inu, and Dogecoin even though their popularity is far much higher.

In the background

BabyDoge has over 742K followers on Twitter who are actively involved in spreading its adoption across the globe. Its holders are more than 1.205 million around the world.

The Baby Doge coin community is currently fighting to have the dog-themed meme coin listed on Binance, something that would be a game-changer for the coin.

The Baby Doge Coin project is in a quest of generating positive headlines through donations to welfare charities including the American Society for the Prevention of Cruelty to Animals. The most recent donation is $150,000 to AnimalLeague, the World’s Largest No-kill Animal Rescue and Adoption Organization.

Normally, exchanging BabyDoge commands a 10% fee; something designed to deter people from selling the meme coin irresponsibly.

However, the recent BabyDoge rally shows that crypto traders are looking for new investment opportunities that could result in astronomical gains as has been the norm within the crypto market over the years. And although such rallies normally don’t last, with Dogecoin, Shiba Inu, and Bitcoin being perfect examples, traders seem determined to try their luck with Baby Doge coin.


Credit: Source link

You might also like More from author

Comments are closed.

Please enter CoinGecko Free Api Key to get this plugin works.