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 July 24, 2021, where at least 250 trillion Baby Doge will be destroyed. This is currently worth $873,000 as of July 22.
This was confirmed on Twitter, where the official Baby Doge account confirming this burn will take place to celebrate getting verified on the social media site.
However, the account also stated that if the tweet received 50,000 retweets, it would burn an additional 250 trillion Baby Doge. As of July 22, the number is at 23,818 retweets.
While 250 trillion sounds like a significant amount of coins, it represents just 0.06% 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. 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.
The burn is part of a Baby Doge stream that includes a live AMA event. This is scheduled for 11 AM EST/8 AM PT/4 PM BST.
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.
The burn address currently holds over 142 quadrillion Baby Doge - or 34.2% of the total supply. This would suggest that just over 277 quadrillion Baby Doge is in circulation.
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