Four days ago, the crypto community and mainstream audiences smelled of a new meme-based crypto asset called baby dog. When Tesla’s Elon Musk tweeted about Puppy, the coin received more attention, and the value of the asset soared almost after the tweet was posted. Since then, Musk has never said Puppy again, but the value of this encrypted asset continues to rise.
Weekly statistics show Baby Doge outperforms most crypto asset market performance
Last week, after Tesla’s CEO posted a tweet about the token, Bitcoin.com News reported on a cryptocurrency called baby dog (BABYDOGE). At that time, Baby Doge skyrocketed 228.3% within 24 hours on July 1. In recent days, the digital currency has continued to rise.
The following Monday morning (Eastern Time), Puppy fell by more than 2%, but the 7-day statistics showed that BABYDOGE still rose by 248.9%. In the past two weeks, Puppies have earned 723% of the mammoth-sized gains.
After Musk’s tweet, Baby Doge attracted the attention of mainstream media (MSM) because many publications followed Bitcoin.com News and reported on Baby Doge. Fool.com, a subsidiary of Motley Fool, asked: “Should you (or anyone) buy Baby Doge Coin?” The Times of India, Futurism, Republic of the World, Benzinga, Gamerevolution, Techstory, Business Insider Baby doge also appeared in articles published by news stations such as Toysmatrix and Toysmatrix.
The New York Post introduced Puppy to the public in an article: “Puppy? What should you know about the Dogecoin derivative product that Elon Musk hyped up.” Since Starting from July 1, the number of trading platforms that list Puppy Dogs has increased by three centralized exchanges after Pancakeswap was initially available.
Meme-based crypto assets are available on Pancakeswap, MEXC Global, XT.com and Lbank. The first version of Pancakeswap shows that Baby Doge has a lot of liquidity, with a 24-hour swap of US$71 million, and the second version of the agreement shows more than US$3 million.
The top Meme tokens ranked by market capitalization show that other similar Governors and Musk-related Meme coins are on the rise
In our last report, the price of Baby Dogecoin was 0.000000002014 USD per unit, which has since doubled to 0.000000004585 USD per BABYDOGE. Every time a puppy transaction occurs, people must pay 10% of the fee, but 5% of the fee will be redistributed to each puppy owner.
The other 5% withdrawn from the fee will be added to the BABYDOGE/BNB liquidity pool hosted on Pancakeswap. According to Coingecko’s list of “Meme Tokens with the Highest Market Capitalization”, Dogecoin (DOGE) has not performed as well as Puppy recently. DOGE has fallen by 11.4% in the past 7 days, while Puppies have risen by 248%.
Now shiba inu (SHIB) is up 7.4% today, and some other tokens like DOGE have a good weekly increase. A crypto asset called dogelon mars (ELON) rose 31% this week, and another crypto asset called elon doge token (EDOGE) rose more than 20%. Baby Doge does not have the transaction volume seen by its predecessors SHIB and DOGE, but it is close. Today, the transaction value of Dogecoin (DOGE) is 1.3 billion U.S. dollars, while the transaction value of SHIB is more than 400 million U.S. dollars.
In the past 24 hours, the collective trading volume of puppies was approximately $103 million. Baby doge coin ranks 31st among dozens of meme coins listed on the Coingecko aggregation website. Most cryptocurrency aggregators do not state what the market value of Puppy Dog is today, but USD 420 trillion multiplied by USD 0.000000004585 is approximately USD 1.925 billion.
What do you think of the Baby Doge project and the rise in tokens this week? Please tell us your thoughts on this topic in the comments section below.
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