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BabyDoge sees a 13% surge after getting listed on CoinEx | Invezz

invezz.com 20 January 2022 09:04, UTC
Reading time: ~3 m

Ever since Dogecoin’s community, assisted by Elon Musk, pumped DOGE to the moon, new memecoins started coming out left and right, trying to attract the attention of the community and achieve similar success as Dogecoin itself. So far, Shiba Inu (SHIB/USD) has been among the most successful one, but it now seems that both DOGE and SHIB have a new competitor — Baby Doge Coin (BabyDoge/USD).

BabyDoge hits a new milestone in terms of coin holders

According to a recent tweet published by WhaleStats, BabyDoge recently hit quite a milestone, reaching an astonishing number of 1,275,000 holders. Furthermore, the report claims that the top 1000 BNB wallets are holding over $5 million in BabyDoge, which translates to 989,582,594,495,517 BabyDoge coins.

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However, the most interesting part comes from the fact that BabyDoge’s number of holders skyrocketed by over 15,594 in only 2 days. On January 17th, the coin had 1,260,401 holders, and only two days later, that number climbed up to $1,275,000. Even more interestingly, it continued to grow since then.

The current figures indicate that BabyDoge currently sits in more wallets than Shiba Inu itself, despite the fact that SHIB has a lot more listings, expanding adoptions, and alike. As of January 18th, SHIB was only held by 1,145,212 wallets, which was a smaller count than what BabyDoge was seeing even before the new surge in holders.

What caused the growth?

A lot of things can spark an interest in something in the crypto industry, but in this case, it is believed that the sudden growth was caused by the recent listing of BabyDoge. On January 18th, the coin was supported by a Hong Kong-based exchange called CoinEx, which enabled withdrawals, deposits, and trading for the memecoin.

BabyDoge was paired against Tether (USDT), the world’s largest stablecoin, which made it readily available for a massive community of crypto users who are currently owning the stablecoin, as well as those who simply wanted an easy way to buy BabyDoge.

Like the others, BabyDoge was inspired by Dogecoin and the Shiba Inu dog breed. As such, it is not that different from the likes of FLOKI, SHIB, and other joke cryptos inspired by a popular dog breed. BabyDoge is among the youngest, however, only seeing lunch in June 2021.

Another interesting detail is that this is not the only coin that was listed on CoinEx recently. Only a day before adding support for Baby Doge Coin, CoinEx also listed ELON — a memecoin inspired by Dogecoin’s biggest fan and the world’s most popular billionaire, Elon Musk.

Musk, who acts as the CEO of Tesla and SpaceX, has grown to be extremely close to the crypto industry, and especially to Dogecoin. He also has a Shiba Inu puppy named Floki, which is what inspired the creation of the Floki Inu memecoin.

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