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Created by “fans of the Doge Coin online community”, Baby Doge “aims to impress its father with new and improved transaction speeds”, touched on Ethereum ($ ETH) and became the most traded token among the Binance Smart Chain whales.
According to WhaleStats, the meme-inspired cryptocurrency has become the most traded cryptocurrency on the Binance Smart Chain amid soaring prices that have surged over 40% in less than 24 hours.
This move was accompanied by a significant accumulation of riptocurrency by the top whales on Binance Smart Chain, which currently hold over 45 trillion tokens. BABYDOGE, as reported by CryptoGlobe, jumped in value last year ahead of NASCAR.
The cryptocurrency debuted at NASCAR on July 10, and the BABYDOGE branding was placed on the # 68 Chevrolet Camaro of rider Brandon Brown. It is worth noting that the cryptocurrency was launched on June 1 on the Binance Smart Chain exchange with the aim of rescuing as many dogs as possible, according to its website.
This digital asset is “hyper-deflationary” as it is designed in such a way that it becomes increasingly scarce over time. Baby Doge holders receive more tokens automatically as every transaction on the network entails 10%, of which 5% is distributed among token holders and half is added to liquidity.
It is worth noting that the offering of the cryptocurrency started with 420 quadrillion tokens, which means that over 125 quadrillion has been burned to date. It is available for trading only on the PancakeSwap decentralized exchange.
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