January was a fairly good month for the cryptocurrency market. Several assets started their recovery journey, and some even did much better than others. Meme coins like Dogecoin [DOGE] and Shiba Inu [SHIB] bagged double-digit gains. BabyDoge Coin, on the other hand, was among the month’s best performers.
According to CoinGecko, BabyDoge rose by a whopping 66.4% over the last thirty days. The asset went from trading for a low of $0.000000000933 all the way to a high of $0.000000001551. At press time, the meme cryptocurrency was trading for $0.000000001524 with a 3.2% daily increase.
Despite BabyDoge’s latest upswing, the asset remains 76% below its all-time high of $0.000000006345.
The coin’s price surge was further linked to the array of developments in the BabyDoge network.
Burn BabyDoge Burn!
Burning tokens, or sending them to dead wallets, has become an integral part of several networks. The BabyDoge network has been relentlessly carrying out burns. Therefore, the developers made the decision to launch a dedicated burn portal. The launch of the portal was reported three weeks ago and, more recently, the network asserted that it was completed.
Additionally, over the last 24 hours, a notable 33 trillion tokens were destroyed from the total supply.
Furthermore, it should be noted that the BabyDoge network has been carrying out quadrillion burns over the last couple of months. Currently, a total of 201.3 quadrillion tokens, representing 47.94% of the project’s total supply of 420 quadrillions, have been eliminated.
Here’s how its decentralized exchange is faring
Things were looking up for the BabyDoge network. The network’s decentralized platform, BabyDogeSwap, recorded an all-time high in terms of liquidity over the weekend. The swap currently has $39.5 million in total value locked.
While it remains unsure if the network would prolong this notion in February, the community seems quite optimistic.