There has been a new addition to the Dog coin empire— Baby Floki Coin (BABYFLOKICOIN), a community-driven cryptocurrency. The coin is a creation of Dogecoin (DOGE) and Shiba Inu (SHIB) enthusiasts. According to the creators, they named the token after Elon Musk’s new Shiba Inu pup. In a June 2021 tweet, Elon Musk said he would be getting a Shiba Inu pup and would name it ‘Floki’.
Quick Facts About Baby Floki Coin
Firstly, Baby Floki Coin came to life on September 22, 2021 in a stealth launch. As part of phase one in the road map, the team has already audited the token smart contract. Also, for the tech-savvy, you can read the token contract here.
Secondly, the project lives on the Binance Smart Chain (BSC). The majority of crypto projects use BSC because of its cheap fees and fast transactions. Consequently, this makes BabyFlokiCoin a BEP-20 token. BSC is a centralized chain and its security relies entirely on Binance.
Finally, Baby Floki Coin has three functions: liquidity, burning, and reflection.
Liquidity
Every transaction (buy or sell) incurs a 7% tax. This amount of coins goes to supply liquidity of the token on DEXs. Currently, Baby Floki Coin is trading on PancakeSwap.
Burning
In every transaction, a certain amount of tokens goes to the burn address. However, the team has not released the exact percentage of the tokens burnt in every transaction.
Reflection
The project’s vision is to empower the community. Therefore, the developers built a Reflection feature into the contract. In every transaction, 5% goes back to token holders as an incentive to continue holding.
Tokenomics and Price
Baby Floki Coin has a total supply of 1 quadrillion tokens. However, due to the rapid token burn, there are only 548 trillion tokens left in circulation. Having gone live about a month ago, the burn rate makes the token hyper deflationary. Also, at launch, the team burned 384 trillion tokens. You can monitor the burn address here.
Presently, there are about 5000 Baby Floki Coin holders. The token trading at $0.000000001776 and ranks #3029 on Coinmarketcap. Baby Floki Coin has moved up 17% in the last 24 hours, showing increasing interest in the token. Additionally, the project has a market cap of $1.09 million, which gives it a lot of room to move.
The Road Ahead
The developers have awesome surprises lined up for the community. For example, there are rare NFTs, celebrity onboarding events, and giveaways prepared. Perhaps, the best of all surprises might be listings on major CEXs and DEXs.
The roadmap has four phases. Phase 1 is already complete, and phase two is already underway.