Lyle Daly repots in fool.com what you should know befor you buy Baby Doge Coin. Highlights:
- Baby Doge Coin is only a few weeks old
- It started with 420 quadrillion tokens but over 125 quadrillion has manually burned (destroyed) so far.
- Every transaction has a 10% fee -
5% is redistributed to everyone who currently holds Baby Doge Coin.
5% is split 50/50, with half remaining as Baby Doge Coin and the other half being traded for Binance Coin.
4 . Part of its mission is rescuing dogs
5 . It's available on PancakeSwap -- but not any major crypto exchanges
6 . The roadmap includes several unique goals
7 . Buying it is a gamble, and there's a high chance of losing money -
Baby Doge Coin started strong, but it's hard to see any value in it as a long-term investment. Memecoins like this one -- with no notable future plans or advantages over the competition -- are a dime a dozen.
They rely on marketing to build hype and push up the price. The team behind them and the earliest investors make money, while everyone who gets in too late loses.
Anything can happen with crypto. There's always the slim chance that Baby Doge Coin has another hot streak and shatters its all-time high. But it's more likely that people forget about it and move on to the next memecoin with a funny name."
Source credit and full story -
My story:
I bought some Baby Doge coins when it was trading around $ 0,000000003560 as of this writing it is trading around $ 0,000000004975.
One thing the team behind it got it right is marketing. You could tell it by the number of new wallets/accounts created. When I bought it the number of wallets was 274,000 now it is 354,000. There are 80,000 new wallets/accounts created in the last 30 hours, but most of the action was on 3rd and 4th of July so it remains to be seen whether it is just a blip or real trend.
If the trend continues, then maybe this will turn out to be something hot, provided the team is legit. But I invested only less than $5 including fees knowing full well it is a gamble.
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