Have you heard of “baby coin”? The cryptocurrency market has gained a new type of digital currency meme. These are the “baby coins” that invaded the market and some have already registered valuations of more than 1,000%.
Recently, a tweet from Elon Musk, Tesla’s billionaire, came back to talk about his favorite cryptocurrency, Dogecoin, albeit singing a “little children’s song” he invented and called “Baby Doge”.
Baby coin: what are they?
Now, there are at least six baby coins available on the market that were launched mostly in the month of June.
BabyBNB (BABYBNB), which launched on June 29, cost $0.0000002384. Digital currency is now trading at its maximum price of $0.000000030864.
The BabyFloki (BABYFLOKI), which launched on June 27, was priced at $0.00050524 and this weekend was priced at $0.00090388, but it’s falling.
The Baby Token (BABY), which can be considered a “veteran” among baby coins. That’s because it was released as early as December 2020. It has since gone from a starting price of $0.0082 to the current $0.022.
The other two baby coins in the market registered losses this past week. BabySwap (BABY) dropped from $0.38 on June 11 to the $0.088 mark. Therefore, it registered a decrease of more than 76%.
Baby Kishu (BABYKISHU) also fell. On June 26, when it became available for consultation on CoinGecko, BABYKISHU cost $0.000000001139. This weekend the cryptocurrency was trading at $0.0000000000249. In other words, it devalued almost 80% in the period.
Elon Musk publishes song sbout “Baby Doge” and unknown cryptocurrency rises 230%
Elon Musk’s history with Dogecoin has already led many investors to believe in the currency that was even forgotten before the arrival of the CEO of Tesla and SpaceX.
But after the arrival of Musk, who took over as CEO of the cryptocurrency meme, it has appreciated 10,000% in the past 12 months. This phenomenon of the billionaire, who is the third richest in the world, ends up being taken to other projects on the market.
As has been common in recent months, Elon Musk returned to using his “best weapon” to talk about a cryptocurrency, his profile on twitter. With many in the market waiting for these messages to go shopping, sometimes even subliminal, another currency ended up shooting in the last 24 hours.
Baby coin and Baby Doge
It all started with Elon Musk singing a song he called Baby Doge, in reference to the famous “Baby Shark“, being the most watched video on YouTube worldwide today.
Baby Doge, doo, doo, doo, doo, doo,
Baby Doge, doo, doo, doo, doo, doo,
Baby Doge, doo, doo, doo, doo, doo,
Baby Doge— Elon Musk (@elonmusk) July 1, 2021
It was enough for Musk to vent his invented children’s music that crypyo enthusiasts went on a shopping spree this Thursday morning, July 1st. Dubbed the Baby Doge Coin (BABYDOGE), and listed only on the decentralized broker PancakeSwap, the cryptocurrency brutally rose in just a few minutes.
In the first 24 hours after Musk’s publication, Baby Doge’s rise was 230% in the market. The volume of negotiations in the period was $66 million.
In addition to the rise in cryptocurrency, the term “Baby Doge” ended up on Twitter’s Trending Topics in the United States, according to the cryptocurrency page on twitter.
#BabyDoge pic.twitter.com/8A87xoFuY4
— Baby Doge Coin (@BabyDogeCoin) July 1, 2021
Baby Doge Coin already shot up by 1,650%
Baby Doge Coin, as mentioned, came to value 230% in 24 hours. Since it was created in early June, BABYDOGE has risen almost 1650%.
Initially, digital currency traded at $0.000000000099. On Saturday BABYDOGE is costing $0.000000001732, having peaked at $0.000000002109 after Elon Musk’s tweet.
The description of the cryptocurrency makes it clear that it was inspired, as the name suggests, in the first cryptocurrency meme, the Dogecoin.
Elon Musk: Currently not being able to impact large cryptocurrencies
It is worth noting that Elon Musk has been accused of impacting the cryptocurrency market in recent months. Valuing both Dogecoin and Bitcoin with his cryptic tweets.
Tesla’s CEO was once the biggest supporter of cryptocurrencies and is among the richest men in the world.
It’s inevitable pic.twitter.com/eBKnQm6QyF
— Elon Musk (@elonmusk) July 18, 2020
However, after being accused of manipulating the cryptocurrency market, with speeches on his Twitter, investors of large projects no longer bother with what Musk says.
In June, the hacker group Anonymous ended up threatening Elon for his talks about Bitcoin, with Tesla’s CEO lowering his frequency of postings about the currency then.
Even so, cryptocurrencies and worthless memes like Baby Doge Coin still feel the effects of Musk in their market, even if unwittingly.
