Dogecoin spin-off Baby Dog is the new crypto in spotlight, soaring price draws attention
Baby Doge Coin is a 3 week old cryptocurrency that operates on the Binance Smart Chain. One tweet by Elon Musk has sent it to soaring heights.
New Delhi: After Dogecoin’s popularity in the crypto market, Baby Dog is the new meme coin to come into spotlight. The meme is drawing huge interest of investors, as it price doubled just after a tweet of billionaire Elon Musk.
Tesla chief tweeted about Dogecoin spinoff Baby Doge and the cryptocurrency’s value has almost doubled since then.
“Baby Doge, doo, doo, doo, doo, doo,” Musk tweeted, as a reference to the well-known kids’ song “Baby Shark.” The hashtag #babydoge trended on the site following the tweet.
Baby Doge price rose by nearly 98% following Musk’s tweet, even though he was bashed by a lot of crypto enthusiasts for the tweet.
Similar incidence happened with Dogecoin, Musk’s 1 tweet propelled into the big world of cryptomarket.
What is Baby Doge Coin?
Baby Doge Coin is a 3 week old cryptocurrency that operates on the Binance Smart Chain.
Every time a user makes a transaction with Baby Doge, they’re charged a 10% transaction fee. This fee is redistributed to token holders and the biggest investors get the largest portion of these rewards.
The team behind Baby Doge isn’t shown on its website, which may be a concern for investors who want to know the team they’re investing in.
How to buy Baby Dogecoin
1) Open Binance Account
First step for owining a Baby Doge is to have a Binance account.
As the mem coin is available on Binance Smart Chain, first of all, open a Binance account to get started.
Other method of owning it is through other exchanges like PancakeSwap, Binance’s DEX. As Baby Doge is not listed on other exchanges, you will need to have BNB tokens in your crypto wallet.
Once, you have set up your crypto wallet, you can buy the crypto from PancakeSwap.
2) Download Trust Wallet or MetaMask
After getting BNB tokens on Binance, send them to your crypto wallet and connect it to PancakeSwap. The easiest wallet to have flexible co-ordination with PancakeSwap is MetaMask, as it has a Google Chrome extension that makes it easy to interact with the exchange.
After opening MetaMask for 1st time, you will need to set Ethereum Mainnet as default. Since PancakeSwap is on Binance Smart Chain network, add this network to your MetaMask wallet.
3) Network Name: Binance Smart Chain
New RPC URL: https://bsc-dataseed.binance.org/
ChainID: 56
Symbol: BNB
Block Explorer URL: https://bscscan.com