Another One Quadrillion Baby DogeCoin (BABYDOGE) Burnt Less Than 24 Hours After 50 Quadrillion Units Were Destroyed.
1 quadrillion #BabyDoge tokens worth estimated $1.6 million according to BSC scan were just burned ! ??#BabyDogeArmy
Proof of burn: https://t.co/oqRmpdIoP2
— Baby Doge (@BabyDogeCoin) July 2, 2022
Less than 24 hours after burning a whopping 50 quadrillion units of BABYDOGE Worth $88 Million, the Baby Doge team has announced that it has burnt another one quadrillion BABYDOGE tokens.
The canine-themed cryptocurrency project took to Twitter to share details of the transaction, which can be viewed on the Binance Smart Chain (BSC).
Per details of the transaction on the Binance Smart Chain, the burn occurred earlier today and was worth around $1.6 million. The Baby Doge team sent one quadrillion units of the canine-themed cryptocurrency from its official wallet to a dead wallet, where all tokens burnt by the Baby Doge team have been sent to.
Baby Doge Committed to Reduce Its Total Supply
The development is part of the monthly burn exercise conducted on a monthly basis. The Baby Doge team has been embarking on a monthly burn of its token’s supply in a bid to reduce the volume from 420 quadrillion units to a much lower amount.
The idea is to eventually bolster the value of the cryptocurrency in the near future.
Although the Baby Doge team has been burning one quadrillion units of the cryptocurrency monthly, it has also burnt more units on special occasions like when it gets recognition from a popular figure or via a decision made by its community.
Interestingly, the crypto project launched a community proposal last month that resulted in the burning of 50 quadrillions of BABYDOGE coins from the Ethereum network.
The community voted that the tokens should be sent to the dead wallet in one go and the Baby Doge team heeded these calls exactly as investors demanded.
Baby Doge completed the biggest burn transaction in the history of the cryptocurrency industry and also sent proof of the transaction on Twitter.
BABYDOGE Down 9.3% in 24 Hours
Meanwhile, despite the whopping amount of burns carried out by Baby Doge in the last 24 hours, the token is still not reflecting these positive developments.
BABYDOGE, which soared to a high of $0.000000001780, plummeted massively to a low of $0.000000001548 in the last 24 hours.
At the time of writing, Baby DogeCoin is trading at $0.000000001780, representing a decline of 9.3%.
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