As a seasoned analyst with over two decades of experience in the financial markets under my belt, I must admit that I’ve seen some wild rides, but the crypto market has taken the cake when it comes to unpredictability and volatility. The recent surge of Baby Doge Coin (BABYDOGE) is a perfect example of this.
Baby Doge Coin surged over 75% after Elon Musk posted a black-and-white Godfather-inspired tweet.
As a researcher exploring cryptocurrency trends, I’ve noticed an intriguing contrast between Bitcoin (BTC) and Baby Doge Coin (BABYDOGE). Despite Bitcoin reaching a new peak at $103,900, causing some volatility in the market, Baby Doge Coin seems to be thriving against these conditions, outperforming the overall market scenario.
The cost of BABYDOGE surged from a 24-hour low of 0.0000000002443 USD to as high as 0.0000000004448 USD after Musk’s tweet.
Previously, Musk’s involvement in the crypto world has been impactful. To jog your memory, his tweets regarding Dogecoin (DOGE) sparked a surge in its value and subsequently led to a lawsuit.
Elon Musk, creator of Tesla, shared a picture with his son using the terms “Dogefather” and “Dogeson,” styled like the iconic logo from the 1972 movie “The Godfather.” In response to this post, he referred to them as “Doge” and “Little Doge.
Doge & Minidoge
— Elon Musk (@elonmusk) December 7, 2024
Following the tweet, the price of DOGE jumped over 4%, and BABYDOGE rose by over 75%.
The official X account of BABYDOGE also replied to the tweet, “You mean babydoge?”
On December 5th, the Baby Doge team posted on Twitter that “the one thing in the cryptocurrency realm more uncertain than BabyDoge’s next action is Elon Musk’s next social media update.
From a development perspective, the meme coin team is actively engaged in preparing for the release of their meme token launch platform, which they’ve named “puppy.fun”.
What’s coming is coming 👀
Soon…
— puppy.fun by BabyDoge (@puppydotfun) December 6, 2024
BABYDOGE also recently renounced their token contract on Solana (SOL). The meme coin, which was initially launched on the BNB Chain, has now also expanded to the Solana network. In late November, Binance had also announced a new spot listing for BABYDOGE.
The significant increase in popularity of BABYDOGE, even during uncertain market situations, can largely be traced back to Elon Musk’s tweet and the continuous efforts made by their development team.
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2024-12-07 22:44