In June 2021 the Baby Dogecoin was launched by Christian Campisi, who is also known as the creator of Save Lands and Pawz. The “White Paper” of Baby Dogecoin states that its objective is to make cryptocurrency accessible to the general public and to aid stray dogs. The team that created it has given donations to several animal charities, and the token itself has been profitable, with a return of more than 3,500% at one point. Baby Dogecoin is a popular crypto among users and in this blog, you will get to know how you can buy Baby Dogecoin in India.
Despite having a starting quantity of 420 quadrillion Baby Doge Coin tokens, over 43% (180 quadrillions) were burned, meaning they were destroyed. The development team has kept burning tokens every month since then. These burns are a means to control the supply and may raise demand, however, they don’t necessarily result in higher prices.
A 10% fee on each trade is Baby Doge Coin’s key marketing trick. You must pay a transaction charge of $100,000 to sell 1,000,000 BABYDOGE. The fee is divided in half, with 50% going to all current Baby Doge Coin holders and the remaining 50% being used to create trading liquidity.
Simply put, you get a share of every trade if you own Baby DogeCoin. You will be required to pay 10% of the trade if you want to trade yours.
Why Buy Baby Dogecoin in India?
For any cryptocurrency, their use case and price matter a lot, and because of that, only the user wants to buy them. In the case of Baby Dogecoin, there are a lot of reasons.
Factors that helped Baby Dogecoin to receive such popularity
Like any other meme coin, the quantity of the Baby Dogecoin is also a lot. The maximum supply of Baby Dogecoin is 420 quadrillions and only half of is utilized by people up to now. Because of the high quantity, it is quite accessible to people and people are buying it.
Because of the high quantity and already structured low price it is quite popular among people. The price of 1 Baby Dogecoin is $0.000000001345 (₹0.0000001065). The highest price of Babe Dogecoin ever reached is $0.000000007695 on 4 July 2021. At the price of Bitcoin and Ethereum, you can buy millions of Baby Dogecoin.
People interested in entertaining things
As the concept is quite entertaining to people, they are more interested in it so they are buying it. Things that go viral on social media and the internet just create a trend and people just start following them easily.
Backup from powerful people like Elon Musk
Elon is the biggest supporter of meme coins, especially Dogecoin, he is even nicknamed Dogefather. From the start, of the meme coin launch, Elon supported and mentioned in his tweets that he will always keep buying more meme coins.
What can risk the growth of Baby Dogecoin?
Meme coins are very popular among people and new coins keep forming which also changes the trends. So it is likely that Baby Dogecoin can be forgotten with time with the arrival of new coins. It’s not that this meme coin will disappear randomly one day but the prices may drop for some time.
Easy availability leads to limited growth
As the supply is so high that everyone can easily access it or buy it that doesn’t create demand and crypto’s price is highly dependent on the demand. If the demand is easily fulfilled the prices won’t go much higher causing the limited growth of Baby Dogecoin.
How can you buy Baby Dogecoin in India on Suncrypto?
Baby Dogecoin can be purchased in a variety of ways. You can just mine it yourself or take it as payment for goods and services. The most commonly used and safe method is to get it through a reliable exchange like Suncrypto.
Follow these steps to buy your Baby Dogecoin on the Suncrypto Exchange
- Download the Suncrypto application from the Play Store or the App store
- Complete the KYC process by filling out the requirements
- Make a deposit on the account to buy cryptos on the platform
- Search the Baby Dogecoin meme coin on the application
- Select the quantity and press buy
- And you are done with the buying process
Baby Dogecoin is a popular cryptocurrency and has a good reputation in the crypto market so it is a good investment to start with at low prices. This is well enough reason for crypto users to be interested to buy Baby Dogecoin in India. Even though the investment is easy a person should do their own research before investing in the market.
For more crypto-related information and news you can check out the Suncrypto academy.