Baby Doge, a cryptocurrency created “by fans of the Doge Coin online community” that “seeks to impress his father by showing his new improved transaction speeds & adorableness” has flipped Ethereum ($ETH) to become the most traded token among Binance Smart Chain whales.
According to data from whale monitoring resource WhaleStats, the meme-inspired cryptocurrency became the most traded cryptoasset on the Binance Smart Chain amid a price explosion that saw it move up over 40% in less than 24 hours.
The move was accompanied by significant accumulation of the cryptocurrency by the top whales on the Binance Smart Chain, which now hold over 45 trillion tokens. BABYDOGE, as CryptoGlobe reported, saw its price jump last year ahead of a NASCAR debut.
The cryptocurrency’s NASCAR debut was on July 10, with BABYDOGE’s branding featured on driver Brandon Brown’s No. 68 Chevrolet Camaro. The cryptocurrency, it’s worth noting, was launched June 1 on the Binance Smart Chain with a mission to save as many dogs as possible, according to its website.
The cryptocurrency is “hyper-deflationary” as it is designed to become more scarce over time. Baby Doge holders receive more tokens automatically as every transaction on its network incurs a 10%, out of which 5% are distributed among token holders, and half are added to its liquidity.
It’s worth noting the cryptocurrency’s supply started at 420 quadrillion tokens, which means well over 125 quadrillion have been burned so far. It’s only available to trade on the decentralized exchange PancakeSwap.
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