Baby Doge Coin Massive Token Burn Sparks Investor Excitement
- Over 206 quadrillion BABYDOGE burned, which is 50.93% of its max supply.
- Baby Doge Coin is in the overbought stage.
In a groundbreaking move, the Baby Doge Coin (BABAYDOGE) community and team have embarked on a massive token burn, resulting in the destruction of over 206 quadrillion (50.93%) BabyDoge tokens. This unprecedented initiative has set the stage for a surge in value and renewed investor interest in the memecoin.
According to official reports from the BabyDoge burn portal, an astounding 3,197,460,341,152 BABYDOGE tokens, with an estimated value of $4,359, were burned within the last 24 hours alone. This significant burn has propelled the project closer to its goal of “reducing the token supply and increasing scarcity.”
BabyDoge Supply Shrinks
The Baby Doge Coin team has been at the forefront of this extraordinary effort, taking the lead in burning a staggering 69 trillion BABYDOGE ($95,295) by the community through the burn portal. Their proactive approach has resonated with the community, creating a sense of unity and commitment toward driving the project’s success.
Further, with the latest burn, the amount destroyed now stands at an impressive 206,092,848,778,265,376 ($280,997,340) BabyDoge tokens, which accounts for a remarkable 50.93% of the initial total supply of 420 quadrillion tokens. This substantial reduction in supply has sparked excitement among investors, as scarcity often translates into increased value and potential returns. Now the total circulating supply stands at 152 quadrillion meme tokens.
Despite this, Baby Doge Coin traded at $0.000000001367. Which soared by around 2.8% in a day and 52% in the year to date, as per Tradingview data. Also, the meme coin RSI indicates that BABYDOGE is in an extremely overbought stage.
However, the BabyDoge team has provided a detailed breakdown of the massive burn figure, highlighting the significant progress made. They aim to create a more sustainable and valuable ecosystem for BabyDoge holders by significantly reducing the token supply.
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Read more: https://thenewscrypto.com/baby-doge-coin-massive-token-burn-sparks-investor-excitement/
Text source: TheNewsCrypto – Blockchain & Cryptocurrency News M
