What Does the Recent 250 Trillion BabyDoge Burn Mean for Token Holders?

The project that started as a meme of a meme is now looking to offer real value through moves like the recent burn.

By
Kyle Heise
on
July 27, 2021
Category:
BSC News

Burn Baby Burn

Baby Doge Coin has taken another step to increase its value by burning 250 Trillion tokens, or $425K USD. The popular meme token on Binance Smart Chain (BSC) has seen enough interest that the burn was necessitated. 

The burn is significant to the Baby Doge Coin agenda moving forward. The team is attempting to separate their coin from other meme projects by offering utilitarian value and initiating deflationary measures.

The burn occurred on July 24th and was announced on Twitter. The proof of the burn is fully transparent and can be found on a blockchain transaction scanner like BSCScan using the transaction hash. 

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Paying Back Loyalty

Baby Doge Coin looks to keep burning to repay their long-term HODLERs. With a real-world use case and mission to save dogs, the token is hitting some crucial points in its roadmap. As the coin grapples with more users and volume, the response from the token’s team will be that much more critical.

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The coin’s price jumped briefly, but the burn was expected and already integrated into the coin’s value. The Baby Doge Coin team has a complete road map on their website, and they are halfway through the first list of phases. 

The Token Benefits

The token burn should benefit BabyDoge in a few ways. Removing tokens from the circulating supply also helps increase the market cap and increase individual token value. Constant burning helps maintain a steady increase in value for the long term.

34% of all the Baby Doge Coin tokens in existence have successfully been burned. 

The 250 trillion from the burn might appear significant, it only represents 0.06% of the total BabyDoge supply. With the huge supply of around 420 quadrillion tokens, this is a small but meaningful dent in the supply.


No Spam Here

There are also security benefits. Less volume reduces the chances of spam attacks across the token. By reducing the circulating supply of Baby Doge Coin, the number of transactions diminishes and decreases the risk of spam and flash attacks. 

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Baby Doge Coin has done an excellent job of keeping up its momentum. From burns to real-world sponsorships, the coin has done well to hit the objectives in its phase chart. The next steps could help the project reach a new level of success. 

Baby Doge Coin currently has a 24hr trading volume of around $4million USD and holds over $19million in liquidity, according to Dex.Guru. According to the self-reported data circulating supply, Baby Doge Coin has a market capitalization of $5 Billion.

About BabyDoge Coin

Baby Doge Coin is the acclaimed 'son' of popular meme token, DOGE. Baby Doge Coin has a hyper-deflationary system that progressively increases its scarcity and increases its liquidity. The project team hopes to ride the momentum of its ‘father’ coin but with faster transactions and enhanced cuteness. 

The Baby Doge Coin project looks out for the welfare of dogs and is actively reaching out to dog shelters & organizations that benefit dogs. Helping rescue as many dogs as possible is its goal.

To learn more about Baby Doge Coin, visit these official links:

Website | Twitter | Telegram | Reddit 

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Kyle Heise

Born and raised in the East Bay of California. He has studied and worked on three continents and lived in eight countries. Kyle resides in San Francisco. He holds bags mostly in Ethererum, Cake, and BSC GameFi projects.

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