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HomeCrypto NewsMarketBaby Doge Coin Burns 4 Quadrillion Tokens, Leading Coin Burns From Front

Baby Doge Coin Burns 4 Quadrillion Tokens, Leading Coin Burns From Front

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Updated: 02/03/2022

Baby DogeCoin (BabyDoge) Set to Remove another 4 Quadrillion Tokens from Circulation today.



Since the start of the New Year 2022, Baby DogeCoin (BabyDoge) has been burning quadrillion of tokens every month.

The BabyDoge has burned another four quadrillion tokens from its current circulating supply.

 

BabyDoge has sent 9.8 quadrillion tokens worth $31.5 million to the dead wallet in the past two months.

About five quadrillion tokens worth $11.5 million were taken out of circulation in January, whereas the team burnt 4.8 quadrillions worth $20 million tokens in February.

Babydoge is leading all meme coins in terms of holders. Babydoge has 1,416,499 (1.4M) unique wallet addresses while Shiba Inu stands at 1,179,514 (1.1M), Whereas, Dogecoin has only 563,482 (563K) holders right now.

On the other hand, BabyDoge is the third canine-themed meme token following Dogecoin (DOGE) and Shiba Inu (SHIB), which has joined 1 Million Club on Twitter the official Twitter handle of BabyDoge has now over 1 million followers. This shows the popularity of the token, and the reason behind this popularity is none other than its “Burning Mechanism or Strategy.”

Readers should note that the burning of coins is common practice in the crypto space and does attract investors. The burns do remove tokens from the overall supply, but this doesn’t mean that the price of the asset will rise. The asset price only rises whenever the demand exceeds the circulating supply of the token. Otherwise, simple burning with low demand doesn’t have much effect on the asset prices.

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Zabi
Zabi
Zabi is crypto enthusiastic with more than 10 years of experience in managing Google News-approved Finance websites. Zabi has a strong background in finance with a thorough understanding of cryptos and a solid grip on the crypto and financial market industry. Along with his passion for crypto writing, Zabi manages his personal stock and finance-related Google News-approved websites.

Disclaimer: The content is for informational purposes only, may include the author's personal opinion, and does not necessarily reflect the opinion of TheCryptoBasic. All Financial investments, including crypto, carry significant risk, so always do your complete research before investing. Never invest money you cannot afford to lose; the author or the publication does not hold any responsibility for your financial loss or gains.

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