Baby Doge Team Announces Burn Of 500T Babydoge Coins

Baby Doge Team Announces Burn Of 500T Babydoge Coins

Time Stamp: May 2, 2023 2:45 AM
Source Node: 2622616

Besides its unique deflationary system, Baby Doge’s other utilities continue to shine.

Baby Doge, a cryptocurrency birthed by the Doge meme online community fans in June 2021, continues to attract users en masse, even as it learns a few tricks and lessons from its meme father.

Recently the token has been making headlines due to its skyrocketing burn rate. On Tuesday, the tokens Twitter highlighted how the burn rate of Baby Doge soared overnight, with 500 trillion Baby Doge being burned in a single transaction. According to BSC scan data, this amounts to an estimated $1.3 million.

Baby Doge has a dead wallet address, holding over 45% of the 420 trillion tokens supply. By burning, Baby Doge coins are sent to this wallet address with each on-chain transaction leading to a decrease in the token’s overall supply. 

BabyDoge Utility Shines

Besides its unique deflationary system and loyal community, Baby Doge has quickly become a favorite among cryptocurrency enthusiasts due to its other utilities. 

Recently, the team behind BabyDoge announced a PIP integration that would allow the meme coin to be used as a payment on multiple social media platforms. The integration means users can now send and receive BabyDoge as payment on Twitter, Reddit, and other social media channels. The announcement also included efforts for NFT creation, GameFi, and more.

This week, Baby Doge is also expected to launch a virtual crypto card, enabling users to spend their Babydoge and other cryptos for global Google and Apple Pay in-person purchases.

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Disclaimer: This content is informational and should not be considered financial advice. The views expressed in this article may include the author’s personal opinions and do not reflect The Crypto Basic’s opinion. Readers are encouraged to do thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.

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