Hi there, my consistency has been rather sporadic this period. I apologize for that. The festivities haven’t been healthy for this website. Anyway, Milul (a consistent reader) had asked me to review this token in November. I got occupied and forgot about it. However, I have decided to review Baby Doge Coin today.
This review is for you if you are curious about Baby Doge Coin, if you are a potential investor just getting to know about crypto or you are already a holder of Baby Doge Coin (this demography is usually very sensitive. Try to read the review with an open mind).
Again, I desire to make new investors understand what they are getting into, so I try to explain crypto coins and tokens in an uncomplicated manner by breaking down crypto terms or whatever developers are trying to say in simpler English. Before we get into the main review, however, we first need to establish an understanding.
“I’m not a banker or a financial expert, I don’t even consider myself a crypto “expert” (whatever that means). I will not be held responsible for your financial decision. Crypto investments, especially meme coin investments are high-risk, high-reward ventures. This article is just a guide, consider it alternative entertainment.”
With that said, let us get on with it.
Baby Doge Coin’s Website
Baby Doge Coin’s website is professionally put together. It is not the most amazing website on the internet it however carries a professional touch, something many similar websites lack. The website is SSL secure and optimized for different viewports. The description begins with the below description.
“Baby Doge Coin has learned a few tricks and lessons from his meme father, Doge. A new crypto birthed by fans of the DogeCoin online community. Baby Doge seeks to impress his father by showing his new improved transaction speeds & adorableness. He is hyper-deflationary with a static reflection that rewards holders, so more baby doge coins are being automatically added to your wallet each transaction. Simply love, pet, and hold as 5% from each transaction is automatically redistributed to baby doge holders. BabyDoge was launched in June 2021 and has an ambitious roadmap that includes further efforts for pet charity, NFT creation, GameFi, and more.”
From the above, you can tell that the idea of Baby Doge Coin was gotten from Doge Coin, the father of all meme coins. However, Baby Doge Coin differentiates itself from Doge by being a hyper-deflationary and reflection token.
For us to understand the above quote clearly, we have to understand these two terms.
Hyper deflationary and Reflection.
Hyper deflationary tokens are designed in a way that makes the total circulating supply of tokens continue to decrease to a predetermined amount. The main benefit of this model is that they restrict the market from being swamped with too many tokens as creators mine, create, or sell more tokens. Thereby making the value of the token appreciate as time pass.
Reflection seeks to reward holders of tokens by employing a system in which transactions are taxed and a percentage of the tax charged is redistributed to holders of the token. This is generally seen as a reward or encouragement for holding the token.
Scrolling down the website, you can feel the excitement of the developers by them letting you know that the token is Certik audited. Certik audits give the token immense credibility. This is because Certik has grown to become one of the most desired “badges” in the meme coin industry.
Baby Doge claims to have burnt 40%+ of the token. Here is how it was stated.
“We have burned 40%+ of the supply. That means out of the 5% of the redistribution 37% will be distributed to the dead wallet. Coins are burned with every transaction.”
Baby Doge also stated this about its Automatic-reflections mechanism.
“5% fee of each transaction is redistributed to token holders. That means you can earn more Baby Doge Coins by just holding them in your wallet. (centralized exchanges/wallets may not apply tokenomics)”
We also learn that Baby Doge has a charity arm. This is how it was stated.
“We have a designated charity wallet that receives redistributions that are used to support our charity partners.”
In the latter part of the website, we learn that baby doge has set out to launch its native application that will be available on IOS and android. Here are some of the features as stated on the website.
The application will enable users to Buy Cryptocurrencies. Users will be able to send Cryptocurrencies. Users of the application will be able to exchange cryptocurrencies for fiat (government-backed currency). Users will be able to use “TextBit technology”. This means that users can text BabyDoge to anyone anywhere in the world using a telephone number.
In my opinion, if the baby doge dev team makes this happen. It will set the token apart, encourage the mass adoption of the token, increase its popularity, and further push crypto into the consciousness of the mainstream.
Baby Doge’s White Paper
Baby Doge’s white paper is a well-designed, 14-page downloadable pdf. The white paper begins with an introduction. Which I think is appropriate. In the introduction, we find out that Baby Doge Coin was Launched in June 2021, and gradually becoming one of the most popular meme coins in cryptoverse. Baby Doge is on a mission to bring crypto to the average person while also helping save dogs in need. Baby Doge was initially built on binance smart chain but recently has incorporated Ethereum into its development.
In each trade, the transaction is charged a 10% fee, which is split 2 ways.
5% redistributed to all existing holders, as a reward for holding the token. While the remaining 5% is split 50/50 half of which is sold by the contract into BNB, while the other half of the BABY DOGE tokens are paired automatically with the previously mentioned BNB and added as a liquidity pair on Pancake Swap.
Baby Doge coin is 6 months old, so has gone deep into its road map.
Baby Doge token’s claim to be partners with Coinspayment.net is true.
Market Cap and Liquidity Pool
According to poocoin.app, Baby doge’s current market cap is $472,247,626 at the time of writing. For a token that is only 6 months old, this is a fantastic figure. It is even more impressive considering we are currently in a bear market.
Baby Doge’s liquidity pool is currently estimated to be $22,346,876.29 on pancakeswap. Also, it has about $28,536,107.59 provided in Anyswap for OKexchange. One of the CEX that has listed it.
Also Read, Lil Floki Review: Legit or Scam?
Baby doge currently has an eye-popping 1,086,192 holders. This is staggering. This means that more than a million people believe and are holding this token. That’s some massive community there.
The developers behind Baby Doge
Like Shiba Inu, the developers of Baby Doge are undoxed. Baby Doge not having doxxed is arguably the only red flag of the token for people like me, who care about things like this. Other than that, the token has been impressive so far.
What investors are saying about Baby Doge
Baby Doge is perhaps the most active token on Twitter. They have a verified handle and they seem to be enjoying cult followership, too. Here is what some supposed investors are saying about the token.
Granted, some of these commenters might be spammers. However, the general mood of most comments is that of optimism for the future of the token.
Baby Doge coin is an example of the perfect meme coin. It is one of the most legit coins out there. The token has two successful audits, one done by Certik. The number of holders of Baby Doge coins is ridiculously impressive. Its mission is clear and simple. There are no whales in the ecosystem. Although it might not look attractive to some type of investors because it is far gone onto its project, it is however a very legit token that will gradually gain mainstream popularity.
If you enjoyed this review, leave a comment and also share it. Your comments encourage and give me the energy to continue writing on this website. You can also check out other reviews I have done. You never can tell what you’ll find.