BabyDoge Coin’s upcoming burn party to eliminate 50 quadrillion tokens

Sahana Kiran
Source – Unsplash

From meme coins to non-fungible tokens, the crypto industry is home to a wide variety of assets. Meme coins witnessed significant mainstream adoption. With more investors eyeing these assets, BabyDoge Coin, Floki Inu, and similar coins made their debut.

While most of them were certainly inspired by the OG crypto meme Dogecoin, Shiba Inu paved the way for widespread adoption. Taking a page out of the Shiba Inu book, BabyDogeCoin has been carrying out several burns over the last couple of weeks. But, the upcoming burn is speculated to bring about increased gains for the network.

Bearish June did not do any good to the crypto-verse. Therefore, yearning to kick start July on a good note, the BabyDoge network decided to carry out a 50 quadrillion burn at the very beginning of the month. The network rolled out a proposal earlier in June. The network’s very first proposal was a basic question, “Do we burn 50 Quadrillion on ETH?”

More recently, BabyDoge revealed that the proposal was concluded and 50 quadrillion tokens would be fried on Ethereum [ETH].

However, the community was rather confused as to why BabyDoge was employing ETH to burn the tokens. It should be noted that BabyDoge originated from the Binance Smart Chain [BSC].

BabyDoge Coin’s weekly gains washed away

Earlier this week, meme coins were painted in green while all the other cryptocurrencies were dealing with a rather difficult time. BabyDoge Coin joined its counterparts and bagged double-digit gains. Over the weekend, the meme coin surged by 39.13 percent.


However, at press time, the asset’s weekly gain percentage had dropped to 12 percent. In addition to this, BabyDoge witnessed a daily drop of 7.3 percent which pushed its price down to $0.000000001551. At present, the meme coin is 75 percent below its all-time high of $0.000000006345 that it attained in January 2022.

Additionally, with BabyDoge and its ongoing downtrend, the community expects the upcoming 50 quadrillion burn to reverse the trend.