As the meme coin wars continue, SHIB and DOGE competitors continue to make dramatic moves to stay in the game.
Offers at Baby Doge through: December 1st
The team behind Baby Doge Coin announced that BabyDoge’s monthly burn offer has been successfully passed. BabyDoge investors also participated in voting on the proposal, which took a week. Key offers are accepted with a massive 99.01% success rate. The proposal, which foresees a monthly burn of the Baby Doge Coin, caused quite a stir in the community. While most BabyDoge owners support the monthly burn transaction, BabyDoge Coin says it will have its first burn on December 1st. The team will burn approximately 1,000 trillion tokens worth $1 million on this day. The team stated that the source of BabyDoge’s monthly burns will not come from tokens held in its treasury, as these assets are currently used for liquidity farming. Baby Doge burned more tokens before. In a statement, the team stated that the burn will not be as large as before, as it requires tokens for liquidity farming.
The number of tokens burned by the team each month will be determined by a fee of 10% deducted from BabyDoge’s trading activity and Baby Doge Swap’s trading volume. The team behind Baby Doge Coin stands out with a record burn to reduce the massive supply of 420 quadrillion meme coins. In particular, the community believes that the token burn will increase the value of BabyDoge. A total of 199.4 quadrillion BabyDoges have been burned to date. More tokens are expected to be burned soon as the team looks for ways to speed up the burning process. The team has reportedly announced plans to launch a burn portal where investors can burn their BabyDoge.
Increase in the number of investors
Bitcoin (BTC) continues to sound the alarm on important indicators, even as the cryptocurrency market continues to face severe corrections and selling pressure. However, despite the risks and uncertainties in the market, the number of BabyDoge investors has increased significantly over the past month.
The project’s Twitter account regularly shares data on BabyDoge burns and the number of new investors, announcing a recent increase in the number of investors in the meme coin. Up to now, the number of investors in Gogoubao is about 1.65 million. For memecoins to reach new highs, macroeconomic conditions need to change, according to experts.
Information source: compiled from COIN-TURK by 0x information.Copyright belongs to the author Serkan Aydın, without permission, may not be reproduced