BabyDoge Will Use Transaction Fees To Burn Tokens

Baby Doge Coin (BabyDoge) has announced its intention to accelerate its ongoing tokenization initiative.

A portion of the trading fees from Baby Doge Swap, the project’s official decentralized exchange (DEX), will be used to purchase and burn BabyDoge, according to the dog-themed cryptocurrency.

The decentralized exchange was established this week by the Baby Doge Coin team in an effort to increase the project’s usefulness. Users of the DEX are able to exchange tokens for all cryptocurrencies using the Binance Smart Chain (BSC).

Notably, this is not the first time tokens have been burned. The team has burned a large amount of the total cryptocurrency supply since it launched last year. Baby Doge Coin made its biggest fire ever by destroying 50 trillion $88 million worth of BabyDoge at the time in just one transaction.

Baby Doge Coin is a new crypto token created by fans of the popular Dogecoin online community. The name is probably an attempt to rise above Dogecoin’s cult parent platform.

Since its launch on June 1, 2021, the coin has experienced massive price volatility, gaining 1,050% within the first two weeks. After peaking at $0.000000002014 on June 24, the price plummeted 60% the next day.

The price of this token has been steadily declining since October 4, following a sharp increase of more than 15% the day before. The token is currently trading at $0.000000001246.

DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

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