79% bounce lets BabyDoge out of the doghouse: here’s where to buy Baby Doge Coin
Baby Doge Coin, one of the most successful Dogecoin imitators, looks to have broken out of a downward trend. Find out where to buy BabyDoge in this article.
With 79% gains on the day, BabyDoge’s undeniable cuteness could well net the meme coin further gains, with potential for a rally to be reignited over a longer time span. BabyDoge had been in a slowly declining price trend after its Elon Musk-initiated price spike earlier this month, but yesterday it bounced off support and has since been in a persistent uptrend.
Dive into our article to find out why BabyDoge is rallying, and learn how and where to buy Baby Doge Coin today.
How & where to buy Baby Doge Coin in the UK and elsewhere
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What is Baby Doge Coin?
Baby Doge Coin is a meme coin and a spin-off of Dogecoin, which is hailed as the original meme coin. BabyDoge takes the face of DOGE, a Shiba Inu dog, and makes it even cuter. BabyDoge’s adorable mascot is a Shiba Inu puppy, and the coin’s canine charms won over Tesla CEO Elon Musk, who tweeted about the coin in early July.
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
BabyDoge, unlike Dogecoin, is not inflationary. Whereas DOGE tokens have no limit on their supply and will be mined forever (theoretically diluting the value of each DOGE token in the process), BabyDoge will follow a deflationary distribution model, increasing scarcity over time. This should help to force the price up as time passes, according to the economic laws of supply and demand.
Should I buy BabyDoge today?
Baby Doge Coin looks to have broken out of a fortnight-long downtrend and has charted impressive gains on the day. With a 79% rally over the last 24 hours, BabyDoge looks to be building momentum. The bounce off a major support/resistance level around $0.0000000014 looks decisive, and as such BabyDoge is potentially a safe “buy” today.
With the coin still down on the week, it’s clear how much ground BabyDoge could make up if a persistent uptrend sets in. If previous highs are revisited, that would represent an astonishing 4-5x increase.
The post 79% bounce lets BabyDoge out of the doghouse: here’s where to buy Baby Doge Coin appeared first on Coin Journal.
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Joe Khalique-Brown, @KhareemSudlow