Following a generally bullish crypto market, Baby Doge Coin (BABY DOGE) has been one of the most impressive tokens, registering weighty profits for investors.
According to data by Coingecko, BABY DOGE has recorded a 20.1% gain over the last 24 hours, representing a higher price percentage increase than all other meme coins during the same period.
Looking at its wider market performance, BABY DOGE has been quite outstanding, rallying by 51.3% and 59.5% in the last seven and 30 days, respectively. Since the beginning of the year, the MemeFi project has gained over 300%, quadrupling its market price in the process.
In exciting news, Baby Doge Coin’s impressive performance so far has led to the token breaking into the top 100 cryptocurrencies based on market cap, according to data from Coingecko.
At the time of writing, BABY DOGE is valued around $0.000000003701 with a total daily trading volume of $33.8 million. In addition, the meme coin has a market cap of $564.8 million, with 160 quadrillion tokens in circulation.
BABY DOGE trading at $0.0000000036988 | Source: BABYDOGEUSD Chart on Tradingview.com
What Is Behind BABY DOGE’s Current Rise?
Aside from the general crypto surge earlier last week, BABY DOGE has made some advances which has spurred its market price over the last day.
Via their official Twitter account, the developer team behind BABY DOGE announced on Friday the meme coin is about to be listed on one of the top five exchanges this week.
According to CoinMarketCap, the top five crypto exchanges are Binance, Coinbase, KuCoin, Kraken and Bitfinex. Of these lots, Binance, being the biggest crypto trading platform in the world, has gotten the most shouts from an overjoyed Baby Doge Army.
However, Regardless of which exchange lists BABY DOGE this week, it will be the biggest listing of the meme coin so far. Currently, popular exchanges with support for Baby Doge include Gate.io, Bybit and OKEx.
BABY DOGE, The Next Big Thing?
As one can guess, Baby Doge Coin is a cryptocurrency inspired by the popular meme token, Dogecoin.
However, unlike most meme coins which depend solely on community participation and celebrity news to get a price pump, Baby Doge aims to defer by expanding its utility through the creation of a functional ecosystem.
This is clearly seen with the Baby Doge Swap, a decentralized exchange built on the BNB network that allows users to buy, earn, spend, farm and stake Baby Doge Coin.
In accordance with Baby Doge’s impressive price action, Baby Doge Swap has also witnessed massive growth, with a 114% in its TVL since January 1, according to data from Defillama,
At the time of writing, Baby Doge Swap ranks as the fourth-biggest decentralized exchange with a TVL of $60.69 million.
Featured Image: Analytics Insight, chart from Tradingview.
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- Source: https://www.newsbtc.com/altcoin/baby-doge-coin-rallies-20-in-24-hours-heres-why/
