The Uniqueness of BabyDoge Coin Compared to Other Dog Themed Memecoins

Bittime - Baby Doge Coin is a cryptocurrency that carries a light and cute theme, claiming to be a community coin. Launched in 2021, Baby Doge Coin has a total initial supply of 420 quadrillion tokens, with an initial recorded price of just $0.000000000175.

What Is Baby Doge Coin?

According to “Woof Paper,” the goal of Baby Doge Coin is to bring cryptocurrency to the general public and help dogs in need. 

The team behind the project has donated funds to various animal charities, and the token has seen returns of over 3,500% at one time.

What Makes BabyDoge Coin Unique?

One of the main features of Baby Doge Coin is that there is a transaction fee of 10% on each trade. For example, if you want to sell 1 million BABYDOGE, you will be charged a transaction fee of $100,000. This fee is split in half, where 5% will go back to all existing Baby Doge Coin holders, and the remaining 5% is used to provide trading liquidity.

In other words, if you own Baby Doge Coin, you will get a share of every transaction. However, if you want to trade, you will be charged 10% of the transaction. While Baby Doge Coin is not the first crypto token to implement this type of fee model, many new cryptocurrencies launched in 2021 with the same type of fees.

However, there is nothing that differentiates Baby Doge Coin from other cryptocurrencies. Its price increase was largely driven by its name and a strong marketing campaign on social media.

Baby Doge Coin Origin

Baby Doge Coin was launched on June 1, 2021. Unfortunately, there is no information regarding the development team on the website or in the white paper. Although initially created as a joke, Baby Doge Coin has managed to gather a large community of supporters.

Although Baby Doge Coin had an initial supply of 420 quadrillion tokens, almost 43% (180 quadrillion) was burned, meaning the tokens were destroyed. 

Since then, the development team has continued to burn tokens every month. This burning is a way to manage supply and potentially increase demand, although not always directly proportional to price increases.

How Baby Doge Coin Works

Baby Doge Coin is a BEP-20 crypto token, which means it is built on the Binance Smart Chain (BSC). One of the advantages of BSC is its higher speed and efficiency compared to many other blockchains. This allows for low gas fees (transaction fees) and processing that can be done in less than five seconds.

As mentioned, Baby Doge Protocol charges a 10% fee on every transaction. Half of the fee (5% of the original transaction) is distributed to all existing Baby Doge Coin holders in the form of reflection.

There is a Part of Baby Doge Coin that is Converted to BNB

The remaining 5% is further divided into two equal parts. Half remains as Baby Doge Coin, while the other half is converted into Binance Coin (BNB). These two tokens were then deposited into the BABYDOGE/BNB liquidity pool on PancakeSwap, a decentralized crypto exchange (DEX). 

This helps keep funds in the pool so people can trade between Baby Doge Coin and Binance Coin.

Read too BABYDOGE Price Prediction 2025: Can it reach IDR 1?

Baby Doge Coin's Relationship with Charitable Organizations

As part of its mission to help dogs in need, Baby Doge Coin has partnered with and sponsored various animal organizations. 

Here are some of the most significant contributions that have been made:

• North Shore Animal League America: Received $150,000 in December 2021.

• Best Friends Animal Society: Received $100,000 in August 2021.

• Paws with Cause: Received $75,000 in July 2021.

• Furkids: Received $20,000 in July 2021.

The Baby Doge Coin team has also secured several partnerships in the world of sports. In July 2021, they began sponsoring NASCAR driver Brandon Brown. In February 2022, they signed a promotional partnership agreement with football club TSG Hoffenheim to help develop non-fungible tokens (NFT) for the club's fans.

Read too How to Buy Baby Doge Coin (BABYDOGE)

Can I Earn Passive Income with Baby Doge Coin?

You can generate passive income with Baby Doge Coin. In fact, this is one of the main advantages of owning this token. As a token holder, you will receive a reflection, which is part of the fees charged for each transaction. By simply owning Baby Doge Coin, the balance in your blockchain wallet will increase.

However, it should be noted that you will get BABYDOGE tokens. If the price of the token falls drastically, your passive income will not be worth much.

Unique Risk of Baby Doge Coin: Having a Twin Brother, Kabosu

Interestingly, a similar crypto token was launched two months before Baby Doge Coin, namely Kabosu (KABOSU) which claims to be the “CEO of Doge.”

Like Baby Doge Coin, Kabosu also charges a 10% transaction fee that is distributed between existing token holders and liquidity pools. 

Kabosu Also Cares About Dogs

Just like Baby Doge Coin, Kabosu also donates to animal charities. One such organization is Paws with Cause, which lists Baby Doge Coin and Kabosu as partners.

While it could be all coincidence, given the similarities between these two crypto tokens, it seems more likely that the same development team is behind both.

Read too BabyDoge Launches Trading Bots for $BABYDOGE, Want to Try It?

Conclusion

Whether these tokens are connected or not, the fact that there are nearly identical projects reflects something that is not entirely unique to Baby Doge Coin. This further shows that there is nothing that stands out about these two tokens.

Frequently Asked Questions (FAQ)

1. What makes Baby Doge Coin different from other memecoins?

Baby Doge Coin has a unique feature in the form of a 10% transaction fee on each trade. Of the fees, 5% will be distributed to all existing token holders, while the remaining 5% is used to provide liquidity. While there are several other memecoins that employ a similar model, Baby Doge Coin stands out for its focus on its charitable mission to help dogs in need.

2. How Baby Doge Coin generating passive income?

As a holder of Baby Doge Coin, you will receive a reflection of the transaction fees charged on each trade. This means the balance in your blockchain wallet will increase with each transaction made. However, it is important to remember that this passive income is in the form of BABYDOGE tokens, the value of which can fluctuate.

3. Is Baby Doge Coin safe to invest in?

Like all investments in cryptocurrency, Baby Doge Coin carries a high degree of risk. Despite having been successful in building a large community and making donations to charitable organizations, it is important to conduct thorough research before investing. Potential profits must be balanced against risks associated with price volatility and market uncertainty.

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Reference

Lyle Daly, What Is Baby Doge Coin (BABYDOGE)?, Accessed December 30, 2024

Author: IN