Baby Doge Coin, a deflationary memecoin that bills itself as having the “world’s best crypto community”, is set to launch its own Automated Market Maker (AMM).
With this in mind, Be[In]Crypto took a closer look at Baby Doge, the self-proclaimed son of Dogecoin, to find out what is going on in the world of dog-like altcoins.
What is the Baby Doge?
The BabyDoge poses as the son of the DOGE, in order to ride on the eternal popularity of this memecoin and Elon Musk’s fervor for Shiba Inu dogs. To bolster its canine credentials, the project claims to have donated $750,000 to charities since its inception.
BabyDoge has established itself as one of the major players during “dog season”, a boom in canine-themed memecoins, which has been one of the silliest and funniest trends of 2021 worldwide. crypto.
The coin uses the same transaction tax mechanism popularized by projects such as SafeMoon, among others. Transaction taxes can take a variety of forms, but the BabyDoge is one of the memecoins that, thankfully, has kept things relatively simple.
In the case of this coin, a 10% tax is applied to each transaction. 5% of this tax goes directly to the BabyDoge liquidity pool. The other 5% is distributed to token holders.
With the project having been referenced as a memecoin since its inception, the creators of the BabyDoge are now looking to add real utility to the ecosystem with the BabyDoge Swap. This is a concept that other memecoins have tried in the past, but whose benefits are not yet clearly demonstrated.
If the BabyDoge can create a worthwhile crypto exchange with real utility and healthy liquidity, however, the benefits could be enormous. However, if the Baby Doge Swap is substandard and turns out to be nothing more than a fork code with Baby Doge tags, it will naturally perform less well.
The launch of the AMM is scheduled for October 5th.
A struggling price for the token
BabyDoge did well in the last bull cycle, but things got a lot more complicated in this year 2022. at $0.000000001144.
This is an important capitulation. The only bright spot is that the coin remains up more than 100% from its price this time last year, and its short-term performance remains steady, if not spectacular.
Is the BabyDoge real?
One of the main issues faced by memecoin investors is determining the strength of a given community. The problem is that a lot can be done to fake Telegram channel sizes, Twitter follower counts, and even transaction volumes.
Thus, a community may seem strong and active at first glance, while all the activity related to the token would result only from a simple illusion.
One of the possible measures is the number of “true” and “false” followers Twitter of a project. According to TwitterAudit, Baby Doge gets a good 97%. This would suggest that most of his followers are real people rather than bots.
Naturally, this is only one indicator among others to gauge the popularity of the Baby Doge Coin and the community numbers can be taken at face value. As always, the key with memecoins is to have fun with them and do your own research (hence the acronym “DYOR”, from English Do Your Own Research).
All information on our website is published in good faith and for general information purposes only. Any action taken by the reader based on information found on our website is entirely at their own risk.
We wish to thank the writer of this short article for this remarkable content
Is Baby Doge the leader in dog memecoins? – BeinCrypto France
Visit our social media profiles and other pages related to themhttps://metfabtech.com/related-pages/