A Look at Baby Doge Coin's Recent Deflationary Metrics

As Baby Doge Coin destroys 198 Quadrillion BabyDoge tokens out of its total supply of 420 Quadrillion, the token records a growth in price.

By
Abiodun Oladokun
on
August 6, 2022
Category:
DeFi

198 Quadrillion Baby Doge Tokens Burned 

Baby Doge Coin, the hyper-deflationary token built around the popular meme token, DOGE has burned a significant portion of BabyDoge tokens in circulation since launch, data from BscScan revealed. 

According to the project’s whitepaper, the total supply of the meme token is 420 Quadrillion. Baby Doge Coin stated in a recent tweet that so far 198 Quadrillion BabyDoge tokens have been burnt.  This represents 47% of the total supply of the meme token. 

Token burn results in deflation, meaning a decrease in the number of tokens in circulation.  Deflationary tokenomics often results in price appreciation.   What impact has the burning of BabyDoge had on its price? 

Price Performance Since Launch

Upon launch, according to data from CoinGecko, the BabyDoge token traded at $0.000000000175. A year later it is changing hands at $0.000000001282, a price appreciation of over 600%.  The meme coin is currently held in 1,595,781 addresses.

With a market capitalization of $159,644,138, the BabyDoge token is currently ranked number 236 on CoinMarketCap.  

What is Baby Doge Coin:

Baby Doge Coin is claimed to be the 'son' of popular meme token, DOGE. Baby Doge Coin has a hyper-deflationary emissions model that progressively increases its scarcity. 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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Abiodun Oladokun

Abiodun Oladokun is a Blockchain Research Analyst and a Lawyer with over 2 years of practice experience. With keen interest in how the blockchain infrastructure works, he has conducted extensive research into various parts of the technology spanning cryptocurrency projects, DeFi and NFTs. He holds bags mostly in ETH, SOL, ENS and ADA.

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