Baby Doge, the pearl of the BNB chain, what can we expect in the future?
What does your history and on-chain data tell us?
Apart from the price increase, what do we have at a fundamental level?
In this article, we are going to explore and analyze the native token of BNB, recently listed on Binance $1MBABYDOGE
With an increase of more than 110% in the last week, the Baby Doge token is only attracting the attention of the community and theorizing about its future.
Join me for a brief tour, so we can analyze and speculate on its future.
History:
Launched in May 2021, baby doge was part of a meme movement of the moment. Back then (the older ones will remember) the main narrative was the "baby" tokens of large projects.
Initially, it emerged as just another meme, but quickly managed to evolve in a different direction.
Within a few months, it managed to form a community of over 1M holders, and soon began charting a more sustainable path that included a back-end product.
Since its launch, it has reached peaks in its price, without the need for large exchanges (which is very relevant) only with the strength of its community and trading in decentralized swaps.
Now, on its third anniversary, it was finally listed on Binance, causing an explosion in its price. And while some are wondering if it might have been left out again, some have a different opinion.
Present:
The meme that can't be left behind.
The token currently has 1.8M holders on the BSC alone and has extended its contract to the Ethereum network, where it continues to increase its adoption.
In its tokenomics we find that:
51% of the currency in circulation was burned, that is, sent to a dead wallet, where it can no longer move.
Their current liquidity is over 20M, which is locked in primary swaps, ensuring there will be no "rug pull".
Its daily trading volume exceeded $200M
Beyond the meme:
Today, baby doge has consolidated its community and turned its efforts to generating an impact in the real world.
The team behind the project claims to have made the Guinness World Records for the largest donation of animal feed.
They have their own Swap.
They have been audited by the renowned company Certik.
They seek to generate impact in charity and animal containment, through a philanthropic project.
It has its own NFT collection.
His partnerships with other projects have allowed him to develop useful and valuable tools.
They have joined the AI development movement by creating their own image generation app.
They have partnerships with decentralized wallets and real-world payment mechanisms, enabling access to the fiat economy and facilitating its adoption.
In short, the project that made its grand debut as a meme has managed to adapt to new trends and stay afloat over the years.
Fundamentally, it is a project that has demonstrated seriousness and confidence, withstanding changes in narratives and maintaining its economy even in past bear markets.
Currently, its price is far from reaching its historical maximum, which is a great opportunity for everyone.
As mentioned above, its price has achieved great milestones without the need to be listed on major exchanges but, today its potential is even greater.
Without constituting advice, far from it, it is very encouraging to think that a project with almost 2 million holders and a great track record has finally been listed on Binance, giving access to millions of new buyers and trading pairs.
If the trend continues, with its due corrections and fluctuations, we could expect great long-term returns with Baby Doge.
Fortunately, the price has not fallen below its historical support levels. Although its highs have been downwards, this time we could see a new push.
We do not consider this to be the best time to buy, as a 100% increase in a week is usually accompanied by an equivalent correction, but it is up to each person to decide whether to take action or not.
Conclusions:
First of all, I want to congratulate the Baby Doge community for their listing on Binance. It has been a long wait for this moment.
My congratulations also to the team that managed to keep the project alive during these years.
After a brief overview of its history and having analyzed the most important On chain data, I hope to have provided useful content to the reader.
Keeping up to date with future updates on the project can be helpful. In the meme narrative, fundamentals often play a role in price, so you can look for their official channels by going to “Coinmarketcap” and searching for the information with the appropriate links.
Don't be carried away by emotions and operate rationally, managing your risks appropriately.
Crypto Citizen says goodbye!!
P.S.: I want to thank my readers for their constant support. Their comments, likes, and donations in the tips tab are a great help to continue bringing content and helping them in their training.
