02 Jul 2021 10:57 AM +00:00

What is Baby Doge Coin?

Dogecoin has quickly become one of the most popular cryptocurrencies, but what is Baby Doge?

As the latest coin based on the Shiba Inu dog breed, Baby Doge has garnered a lot of attention online following its release in late June 2021.

Here's everything you need to know about the new Doge-based coin.

What is Baby Doge?

Baby Doge is a new decentralised cryptocurrency based on the Binance Smart Chain blockchain.

The BEP-20 token has a total supply of 420 Quadrillion Baby Doge, although only 295 Quadrillion is in circulation, as 29% (125 Quadrillion Baby Doge) was burned. As of July 2021, its price is $0.000000001824 (via CoinGecko).

According to Baby Doge's 'Woof Paper', it reached over 100,000 holders in its first 21 days. Its BscScan page currently lists over 240,000 separate addresses.

Currently, Baby Doge is only available to buy via PancakeSwap, the decentralised exchange running on the Binance Smart Chain.

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Is Baby Doge the same as Dogecoin?

Aside from its name and aesthetic, Baby Doge is not officially affiliated with Dogecoin.

Dogecoin is its own altcoin that sits on its own blockchain. Baby Doge is a token on another blockchain, similar to the Shiba Inu Coin, which is based on the Ethereum blockchain.

Instead, Baby Doge is more influenced by Dogecoin and the wider 'Doge' memecoin ecosystem. The official Baby Doge website states:

Baby Doge Coin has learned a few tricks and lessons from his meme father, Doge.

One similarity, however, is that Elon Musk has tweeted about both. The self-described Dogefather has been known to be a long-time supporter of Dogecoin. On July 1, Musk tweeted:

READ MORE: How much Dogecoin does Elon Musk own?

[Featured Image by Executium on Unsplash]