Baby Doge Coin price prediction: What is BabyDoge?
Can BabyDoge strike out and make a name for itself?
- The story of BabyDoge
- From the Baby Doge whitepaper
- BabyDoge price history
- BabyDoge coin price forecast
- Final thoughts
BabyDoge is the latest star of the meme coin market, with devotees hoping it can take them on a trip to the Moon.
So, what is Baby Doge Coin (BabyDoge)? How does BabyDoge work, what is it used for, and what is the latest BabyDoge price prediction?
Let’s have a look…
The story of BabyDoge
In the beginning, there was Dogecoin (DOGE). This is the coin that was created as a parody of cryptocurrency but ended up gathering investors and attention, and is now seen as one of the more important cryptos.
When something is successful, there is a good chance that other people will come along and try to do what it does. Dogecoin is no exception, with this meme coin inspiring a host of so-called dogcoins, which aim to garner similar success and the same sort of devoted following as DOGE. As the coin’s name suggests, BabyDoge is one such cryptocurrency.
BabyDoge operates on the Binance Smart Chain because, as its whitepaper says, it is a sovereign blockchain that offers security. Not only that, the developers say, but it is able to interact with the Ethereum Virtual Machine, meaning it can support applications based on the Ethereum blockchain.
Every time a transaction is made with BabyDoge, 5% of it is distributed among BabyDoge holders, while a further 5% is added to the system’s liquidity pool, where it is burned, creating a deflationary crypto token.
BabyDoge also has some real-world use cases. The token can be used to make payments with the online payment company Coinpayments.net, to let users spend their BabyDoge online. There is also a reserved 2.2% charity wallet, which is used to make donations to charitable causes. Baby Doge also has its own payment card and its own wallet tracker, called Paw Wallet.
One possible red flag to note about Baby Doge is that its founders are anonymous. This is not uncommon in crypto, however – after all, Bitcoin itself had an anonymous founder.
We should also mention that BabyDoge is not the same thing as BABYDOGE, which is BabyDoge ETH, a dogcoin based on the Ethereum blockchain.
From the Baby Doge whitepaper
The Baby Doge whitepaper was published in June 2021 and aims to: “Bring crypto to the average person while also helping save dogs in need. Baby Doge is created after Dogecoin, with 10x faster block speeds and cheaper gas fees since it’s built on Binance Smart Chain.”
The goal of the protocol is to be a “decentralised meme project with a purpose”, and it claims to be “one of the first meme coins to offer a live decentralised swap directly on our website right after launch”.
BabyDoge price history
While past performance is no indicator of future results, knowing what has happened in the past can help give us context when it comes to looking at a Baby Doge Coin price prediction.
BabyDoge was launched in the summer of 2021, and on 13 June, it was worth $0.000000000176. That incredibly small figure – not even 200 billionths of a cent – soon rose 44-fold, so that on 4 July, the coin was worth $0.000000007695, an all-time high. There was then a drop in value followed by a rebound and, as of close of play on 17 September 2021, BabyDoge was worth $0.000000000813.
It was then time for a bit of a bull run, culminating in a periodic high of $0.000000005006 on 30 October 2021. The bears then took over, with a periodic low of $0.000000001314 on 14 December 2021. However, the token bounced back and closed the year at $0.000000001908.
While the start of 2022 was a tough time for many cryptos, BabyDoge defied the critics and continued to grow, hitting a high of $0.000000006356 on 16 January, a rise of more than 230% over the course of the year. There was still some settling down to do, though, and on 19 January 2022 the coin was trading at around $0.0000000057.
By 18 February, there was considerable upward movement. Following the coin’s listing on Huobi, BabyDoge was trading at around $0.000000004084. The token slowly moved downwards and, following the Russian invasion of Ukraine on 24 February 2022, it fell to $0.0000000026. The market and BabyDoge then went up, with the token trading at around $0.0000000028 on 11 March, and reaching $0.000000003625 on 28 March 2022.
It then went down and was trading at around $0.0000000029 on 8 April. On 11 April, the price fell even further, reaching a low of $0.000000002156 and, since then, it has struggled to regain its position. On 19 April, it was worth around $0.00000000259. The token continued to struggle with downward market forces and, by 6 May 2022, it was worth about $0.00000000186.
When the market was shaken by the events following the depegging of the TerraUSD stablecoin and the collapse of LUNA, BabyDoge fell to a low of $0.000000000823 on 12 May 2022. By 1 June, it had shown some signs of recovery to stand at $0.000000002142 but by 7 June it was back down, trading at around $0.00000000162.
After that, the cancellation of withdrawals on the Celsius crypto lending platform confirmed the crypto bear market and BabyDoge dropped to a low of $0.000000001096. The price then slowly recovered somewhat and, on 6 July it was worth about $0.000000001495. This price came after it was announced that 876,668,446,039 BabyDoge tokens had been burned on 25 June.
After that, though, not even the news that the token was to be listed on the Deepcoin exchange could stop the decline, with the token reaching a low of $0.000000001186 on 26 July 2022. There was a recovery of sorts after that, peaking at $0.0000000018 on 9 August, before it settled down to trade at about $0.00000000163 on 27 August 2022.
At that time, it had a market cap of around $187.7m and a circulating supply of just over 115 quadrillion, out of a total supply of just under 232 quadrillion. It is, at the time of writing, the 232nd-largest crypto by market cap.
BabyDoge coin price forecast
Before we start looking at analysts’ predictions, do bear in mind that crypto forecasts, especially long-term ones, are often wrong. You should also note that crypto predictions are often made using an algorithm, which means they can change at a moment’s notice.
DigitalCoinPrice says that BabyDoge will reach somewhere around $0.00000000206 in 2022, rising to an average of $0.00000000238 in 2023 before it drops to $0.00000000220 in 2024. The site’s Baby Doge Coin price prediction for 2025 sees it rise to $0.00000000314 before falling to $0.00000000282 in 2026.
The year after that, though, the coin’s price will go up to $0.00000000381, according to the site, and in 2028 the token should be worth $0.00000000511, while in 2029 it will stand at $0.00000000652. DigitalCoinPrice’s Baby Doge Coin price prediction for 2030 is $0.00000000730.
Telegaon is a little more optimistic. The site has a Baby Doge Coin price prediction for 2022 that says it will stand at an average of $0.0000000061, before going up to somewhere around $0.0000000091 in 2023. It expects 2024 to see a rise to an average of $0.000000038, while in 2025, the site says BabyDoge should reach $0.000000063.
In 2026, it should get to $0.000000098, Telegaon reckons, while the following year it should be trading at around $0.00000046, and 12 months after that, we are looking at a forecast of an average of $0.00000078. The token should close the decade at around $0.0000027, while the site’s Baby Doge Coin price prediction for 2030 is an average of $0.0000063.
PricePrediction has a BabyDoge price prediction that says there will be growth, but at a relatively slow rate, with the coin staying below $0.000000001 up to 2025, when it should reach that level, before rising to $0.000000002 in 2028, $0.000000003 in 2030 and $0.000000005 in 2031.
Finally, WalletInvestor is somewhat bearish about the future of BabyDoge, suggesting it can drop to $0.000000001 by August 2023.
BabyDoge operates in incredibly small amounts. While this means it does not have to be worth that much to see its investors rewarded, the microscopic value of a single BabyDoge coin might lead to potential investors being put off.
Secondly, there are plenty of other dogcoins out there. If DOGE was the originator and SHIB the first successor, this would make BabyDoge one of the third generation of dogcoins.
Also, we do not know the names of the people behind the crypto, which may be a concern for some. There is also the question of whether the launch of products such as payment cards may, ultimately, be a bit too much, too soon for the token.
How many Baby Doge Coin are there?
As of 17 August 2022, there were just over 115 quadrillion (one quadrillion is one million billion) BabyDoge in circulation, out of a total supply of just under 232 quadrillion.
Is Baby Doge Coin a good investment?
Potentially. The crypto has showed signs of growth in the past, even if the dogcoin market is somewhat crowded.
As ever, you need to do your own research, remember prices can go down as well as up, and never invest more money than you can afford to lose.
Will Baby Doge Coin go up?
It could. There is a little way to go before it matches its early heights, but the movement of travel has largely been upward and the forecasts are positive.
Nevertheless, prices can go down as well as up, so make sure you do your own research before investing.
Should I invest in Baby Doge Coin?
This is a question only you can answer. Before you do so, though, you need to do your own research. Remember that prices can go down as well as up, and never invest more money than you can afford to lose.