Comparing Baby Doge, Dogecoin and Shiba Inu. Which is Better?
Knowing details of Dogecoin v/s Baby Doge v/s Shiba Inu
Baby Doge, doo, doo, doo, doo. If this tweet of Elon Musk is making you wonder and rack your brains, don’t worry, as this is a new cryptocurrency. Regarded as the offspring of popular Doge, Baby Doge is gaining a lot of traction. Nonetheless, meme-inspired coins are growing with initially Dogecoin entering the market, then Shiba Inu, and now Baby Doge. So are you confused about which coin you should invest in? Baby Doge, Dogecoin, or Shiba Inu? Let’s find out.
What is Baby Doge?
If we go by the website, Baby Doge is simply a coin meant for the fans and members of the Dogecoin online community. The website also states that it is proud to run with its father, which provides fairness and transparency to the community. This coin is based on an intelligent integrated system that enables you to add more money to your wallet with every transaction. What does this coin intend? “The objective is to impress my father by demonstrating my new increased transaction speed and cuteness” Voila, you have a new cryptocurrency – Baby Doge.
It is just a month-old cryptocurrency, founded at a price of US$0.000000000175. In just a month, the Baby Doge community had hit 200k holders. Currently, the market capitalization of Babe Doge is around US$304,458,000 and is highly supported by Elon, who also supports its father Dogecoin.
Baby Dogecoin already has a six-phase strategy in place. Having crossed 25,000 subscribers and a website overhaul, there were around 420 quadrillion tokens of Baby Dogecoin. Here, it owns complete ownership of when and how many tokens are burned.
For Baby Dogecoin, a 10% fee is levied when transacted. If you own Baby Dogecoin, you will get a bonus of 5%. From this 5%, half is kept with Baby Doge, and the other half is traded for Binance Coin. Therefore, users can trade between these two cryptos, serving as the liquidity pool.
The fee is charged when you sell your coins. If you hold it, you will get a commission from the sale price when someone sells it.
However, the supply of Baby Dogecoin is limited, unlike Dogecoin. The founders of Baby Doge say that the coin is hyper-deflationary, which means the supply of the coin contracts and does not expand.
Dogecoin v/s Baby Doge v/s Shiba Inu
If closely observed, Baby Doge has no practical use. Top and growing cryptocurrencies are ruling the crypto world as they serve a fundamental purpose. Hence, experts are quite uncertain about how long the hype will survive. Baby Doge’s price increased due to one tweet from Elon Musk. However, in the long run, it is difficult to predict the performance of this tweet-empowered coin.
On the other hand, Dogecoin is one of the top 10 cryptocurrencies as per market capitalization. In the initial months of 2021, Dogecoin soared in popularity and trading volume as well. Elon Musk too was accelerating the adoption of Dogecoin through its tweets, of course.
Dogecoin, however, functions on blockchain technology. Investors are looking forward to cryptocurrencies that are powered on blockchain technology as it leverages decentralized models. Here, it definitely has a practical usage compared to Baby Doge. Hence, Dogecoin is a great investment.
Shiba Inu was inspired by Dogecoin and is hosted on the Ethereum blockchain. However, don’t take this coin as a joke because it works as a part of the decentralized exchange website. The principal coin Shiba Inu token was hosted on Uniswap, which then rose by more than 300%, again thanks to Elon Musk’s tweet.
Shiba Inu again serves as practical usage, functioning on blockchain technology. Experts believe that Shiba Inu will grow because it is based on Ethereum, the second-largest cryptocurrency in the world.
Investing in Baby Dogecoin can be a risky affair as it is very soon to predict about the crypto that is steaming only due to tweets. Dogecoin and Shiba Inu both are better options to invest in as both show positive signs of growth in the future.
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