BabyDoge Coin (CRYPTO: BABYDOGE) extended a 115% two-week-long rally as whales on Binance Smart Chain (BSC) acquired large amounts of the meme coin.
What Happened: According to blockchain data tracker WhaleStats, on Jan. 10, BabyDoge surpassed Ethereum (CRYPTO: ETH) to become the most traded token among the 1000 richest BSC wallets.
JUST IN: #BabyDoge @babydogecoin had flipped $ETH to be most traded token among the top 1000 BSC wallets
#BabyDoge price ups 16.88% in the past 24hrs with a current price of $0.0000000037
Will #BabyDoge follow in the footstep of #SHIB?
Source: https://t.co/tYUaVqEZvV pic.twitter.com/9Xp9h5cmEZ
— WhaleStats - the top 1000 BSC richlist (@WhaleStatsBSC) January 10, 2022
Last week, the Shiba Inu-inspired cryptocurrency managed to achieve another important milestone that was celebrated by its community. The number of BabyDoge holders hit a record 1.15 million, surpassing the number of Shiba Inu (CRYPTO: SHIB) holders.
Why It Matters: BabyDoge was first launched in May 2021 as a token built on the Binance Smart Chain.
Like many meme coins in the crypto space, the token saw its price appreciate significantly after a tweet from Tesla Inc (NASDAQ:TSLA) CEO Elon Musk in July 2021.
Baby Doge, doo, doo, doo, doo, doo,
— Elon Musk (@elonmusk) July 1, 2021
Baby Doge, doo, doo, doo, doo, doo,
Baby Doge, doo, doo, doo, doo, doo,
Baby Doge
After Musk’s tweet, BabyDoge surged nearly 450% to an all-time high of $0.000000005890 over the span of one week.
The meme coin is currently trading at a price of $0.000000003856 which is 34% below its all-time high, but is still up 3980% from its lowest point in June 2021.
Conversely, Dogecoin (CRYPTO: DOGE) is down 80% from its peak price in 2021 and just 53% of holders are still making money on their initial investment.
Related: 2 Tales Of '#BabyDogeArmy' And '#CryptoCrash:' Why This Dogecoin-Inspired Crypto Is On A Tear Today
