On February 13, the Baby Doge Coin team started working on the long-awaited Moxibustion website. The price of Meme Coin has increased by more than 400% since the beginning of the year, attracting the attention of the cryptocurrency world. However, there are some undesirable (problematic) things. So what are they exactly?
According to the team, for every meme currency burned on this gateway, 5 Baby Doge will be burned by April 1. This is how the Baby Doge Coin team launched the highly anticipated burning gateway on February 13. The price of Meme Coin has increased by more than 400% since the beginning of the year, attracting the attention of the cryptocurrency world.
The Launch Has Made a Lot of Noise
There has been a lot of talk about this launch in the cryptocurrency world. Especially after the significant price increase, it was expected to rise even more. The new burn gateway is impacting, as encouraging burn data has been shared since its launch. In the last twenty-four hours, $36,747 worth of BabyDogs were burned.
Weekly BurnBaby Doge data released by the Baby Doge team on February 19 shows that 278,714,174,633,471 meme coins worth $921,429 have been taken out of circulation in the period following the Burn portal’s launch.
To date, a total of 202,925,149,755,422,080 meme coins or 48.316% of the total 420 quadrillion, have been burned. OpenOcean, a Web3 aggregator, announced today that Baby Doge and Baby DogeSwap liquidity can now be traded on its platform.
What is The Reason For Baby Doge Coin’s Price Drop?
Baby Doge Coin has reached an all-time high after a massive rally since early 2023. This rise also led to investment gains.
On February 13, the meme currency began to fall after reaching its previous high of $0.000000457. Seven of the last nine trading days of Baby Doge were negative.
At press time, Baby Doge was trading at $0.0000002877, down 10.64% in the last 24 hours, according to CoinMarketCap statistics. Memecoin, on the other hand, has dropped 28% in the last week.
Moreover, despite the daily and weekly price declines, Baby Doge remains one of the best-performing cryptocurrencies every month, up 138% in the last 30 days.
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