What is Baby Doge Coin? Should you invest?

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After Dogecoin, Shibu Inu, there is a new kid on the block called Baby Doge Coin. It is a sequel to the Doge Coin, which rose multiple times after Tesla founder Elon Musk recently tweeted about the currency. Baby Doge Coin price today is at $0.000000002787 with a 24-hour trading volume of $41,658,128. Its prices went down by 20.3% in the last 24 hours and the coin will have a maximum supply of 420 Quadrillion, according to Coingecko.

What is Baby Doge Coin?

Baby Doge is a deflationary coin, which is designed to become scarce over time. It is a kind of  scheme where all holders of Baby Doge will earn more coins that is automatically sent to your wallet simply by holding Baby Doge coins. All holders automatically receive a 5% fee from every transaction that happens on the Baby Doge network. The community receives more baby doge coins from the fees generated by each transaction.

Earlier Elon Musk had bought Dogecoin for his newborn showing his support towards digital currencies. Dogecoin (DOGE) was created in 2013 as a lighthearted alternative to traditional cryptocurrencies like Bitcoin. The Dogecoin name and Shiba Inu logo are based on a meme. Unlike Bitcoin, which is designed to be scarce, Dogecoin is intentionally abundant — 10,000 new coins are mined every minute and there is no maximum supply.

Things to know about Baby Doge Coin

The website of Baby Dogecoin states that “Baby Doge Coin has learned a few tricks and lessons from his meme father, Doge. New crypto birthed by fans of the Doge Coin online community. Baby Doge seeks to impress his father by showing his new improved transaction speeds and adorableness. He is hyper-deflationary with an integrated smart staking system built in to reward you, so more baby doge coins are being automatically added to your wallet each transaction. Simply Love, pet, and watch your baby doge grow.”

Auto Burns

The website states that it has burned 29%+ of the supply. That means out of the 5% of the redistribution 29% will be distributed to the dead wallet.

Rewards Holding

5% of each transaction is redistributed to token holders. That means you can earn more Baby Doge Coins by just holding them in your wallet.