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Baby Doge Coin is Here

This article is not financial advice and I am not a financial advisor.

The Dogecoin cryptocurrency has taken the world by storm over the last year. The “people’s currency” has helped deliver investors some impressive returns.

Generally when Dogecoin has done well, it’s been on the heels of a tweet from Elon Musk. The cryptocurrency approached $0.75 this year in its quest to $1 but has taken a steep decline since.

But just when you thought the Dogecoin craze couldn’t get anymore wilder, it has. Dogecoin fans have created a new currency called Baby Doge Coin. It is a play off the Dogecoin cryptocurrency and is looking to generate buzz like it’s “father” coin.

What is Baby Doge Coin?

Baby Doge Coin is another version of Dogecoin but part of the coin’s business plan is to donate to dog charities, all as part of a larger “#SaveDogs” campaign.

According to the Baby Doge Coin website, “Baby Doge seeks to impress his father by showing his new improved transaction speeds & adorableness. He is Hyper-deflationary with an integrated smart staking system built in to reward you, so more baby doge coins are being automatically added to your wallet each transaction. Simply Love, pet, and watch your baby doge grow.”

The new cryptocurrency has partnered with a charity, PawsWithCause.

PawsWithCause brings an opportunity for senior citizens, under-served populations, and the community to express themselves by painting local area shelter pets.

Will Baby Doge Coin be Worth the Hype?

Baby Doge Coin is not out to take down its father coin. Dogecoin started out as a meme and transitioned into the mainstream world.

It offers additional features that could be important to investors. The coin can offer token burn to combat inflation and the ability to generate passive income through staking.

According to Yahoo Finance, investing in cryptocurrency can be risky. Dogecoin has seen some massive dips over the last couple of weeks.

“The way that cryptocurrency is generated, distributed, validated and accounted for is completely foreign even to most tech-savvy investors,” according to Yahoo Finance.

Per Benzinga, the new cryptocurrency has grown by 21,844% from $0.0000000000018 on May 31 to $0.0000000003950 earlier this month — an average of 1,213% gain per day.

Is it Right for You?

Dogecoin has been a fun cryptocurrency to follow over the past year. It’s been equally as fun if you’ve been on the receiving end of the gains from the coin.

It might be worth watching because when the DogeCoin Army fights together, the cryptocurrency does impressive things.

As an investor, you should do your research and figure out if Baby Doge Coin is right for you. Baby Doge Coin could offer tremendous growth in time. It’s is important to look at other rival meme coins as well.

It will offer some bite when you invest. According to the website, “$Baby Doge is a deflationary coin designed to become more scarce over time. All holders of Baby Doge will earn more baby doge that is automatically sent to your wallet by simply by holding Baby Doge coins in your wallet. Watch the amount of baby doge grow in your wallet as all holders automatically receive a 5% fee from every transaction that happens on the Baby Doge network. The community owns the baby doge network earning from fees generated on the baby doge network.”

The Closing Bell

The verdict is out whether each cryptocurrency will make you rich. Investors are having fun with Dogecoin and will look to do the same with Baby Doge.

The cryptocurrency community will be hoping Baby Doge will ultimately be successful as it’s father coin. Like the old saying, the apple doesn’t fall far from the tree. You never know, Baby Doge Coin could be like father, like son.

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– Chris Henrique (@ChrisHenrique on Twitter)

Feature Image Courtesy of Baby Doge Coin Facebook page.

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