The hordes of successful meme coins which have shown colossal growth since the beginning of the year welcomed a new participant. The price of Baby Doge increased by 228% per day after Elon Musk's tweet.
Over the past few days, the crypto community was excited about the rise of a new meme coin called Baby Doge. And after the project was mentioned in Twitter by Tesla founder and well-known cryptocurrency manipulator Elon Musk, the price of Baby Doge jumped another 228%. The jump was triggered by Musk's senseless tweet:
"Baby Doge, doo-doo-doo-doo-doo, Baby Doge, doo-doo-doo-doo-doo, Baby Doge, doo-doo-doo-doo-doo, Baby Doge."
Over the past two weeks, the coin jumped 716.9%.
“Baby Doge Coin has learned a few tricks and lessons from his meme father, Doge,” says the project's website. “A new crypto birthed by fans & members of the Doge Coin online community. Baby Doge seeks to impress his father by showing his new improved transaction speeds & adorableness.”
According to the creators of the project, Baby Doge is a hyper-deflationary coin with an integrated smart staking system built in to reward users. With every transaction, more baby doge coins are being automatically added to user's wallet.
"5% of each transaction is redistributed to token holders. That means you earn more Baby Doge Coins by just holding them in your wallet."
There are currently 420 quadrillion Baby Doge coins in circulation.