Cryptocurrency burning is a regular occurrence for many cryptocurrencies, including Baby Doge Coin, with a burn set to happen pretty soon.
Here's what you need to know about the Baby Doge Coin burn.
Baby Doge Coin Burn Date
The next Baby Doge Coin burn will take place on September 1 at 11 AM EST, where 2 quadrillion Baby Doge will be destroyed. As of August 27, this is worth $2.19m.
The Baby Doge Twitter account confirmed this burn would take place to celebrate the token's 3-month birthday.
While 2 quadrillion sounds like an astronomical amount of coins, it represents just 0.44% of the total Baby Doge supply.
In comparison, the latest BNB Burn saw 1,296,728 BNB destroyed, representing 0.77% of the BNB supply, while the Ethereum Burn Rate is at a higher level, too.. Of course, this does not compare to the huge Shiba Inu Coin burnearlier this year. Here, Ethereum co-founder Vitalik Buterin burned 410,241,996,771,871 SHIB worth over $7bn.
Baby Doge Coin Burn Rate and Total Coin Burn
The total supply of Baby Doge Coin was originally 420 quadrillion. However, the team burnt 125 quadrillion - or 30% - of its token in its launch period.
Since then, more of Baby Doge has been burnt. On June 20, the team burned 2.5 quadrillion of its currency, followed by a burn of 250 trillion Baby Doge in July, and 1 quadrillion Baby Doge in early August.
The burn address currently holds over 147 quadrillion Baby Doge - or 35.1% of the total supply. This would suggest that just over 272 quadrillion Baby Doge is in circulation.
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