Last year, pup-themed crypto coins caught a lot of attention. Yet the frenzy slipped and caused a dip in a few of the well-known meme coins like DOGECOIN and Shiba Inu. It leaves much speculation on what this year has in store for Baby DOGE along with other meme coins. Yet not every meme coin is nosedived. Moreover, Baby Doge is on one growth trajectory. From the start, Baby DOGE’s steady rise is a good sign of a promising year, and asserting the position among its peers of pup coin or Peer-To-Peer technology, it is a form of the payment system.
Growth of Baby DOGE
This meme coin came to the crypto market with one advantage. It rode on that wave created by its bigger barking buddies. It began trading at $0.000000001200 in August last year. It then hit new highs in October after it smashed the level of $0.000000005223. After that, it fell before it rose again and hit $0.000000006338. Now it is trading at $0.000000003989.
Pup crypto coin’s growth rode on the wave of the meme coins and fuss. It was not because of the use cases of the coin. Investors expected and hoped that it would be replicating the performance of SHIBA INU and DOGECOIN and then come out as the next big meme coin. All crypto traders going long in September now enjoyed the better tides. Yet we need to understand how long it will be to sustain the ascending move. So here is what the experts have to say regarding this meme coin.
Price forecasts of Baby DOGE
Q1 prediction: It is now trading at $0.000000003989. However, it is predicted that in February it will average $0.000000004884815. Its price is projected to be advancing and gradually in March range between $0.000000004191601 and $0.00000000616412
Q2 prediction: In April the coin will average $0.000000004979296. Its price is projected to rise in the month to trade at $0.000000005021455 average price. In the quarter last month, $0.000000005059574 was its projected average price. Generally, the price may reach $0.000000006324468 highs in this year’s second quarter.
Q3 prediction: Similar to the past quarter, it is expected that bulls will continue to dominate the market along with increasing prices. As per the predictions in July the price range will be between $0.000000004326792 and $0.000000006362929. Yet the price may surpass the past highs of the year and then in August reach a max price of $0.000000006393674. The value of the coin in September is projected to be the highest. It will swing between $0.000000004361609 and $0.00000000641413.
Q4 prediction: This quarter is going to be very different. It is projected that in October it will average nearly $0.000000005138372. Yet predictions show that the average price of the coin in November may fall to $0.000000005135519 and in December to $0.000000005121732 In the year’s final quarter, it is projected to swing between $0.000000004367616 and 0.000000006402165. It will become most valuable in September according to the predictions. As per the projections, the correction may be continuing to next year’s last quarter when its price may be rebounding eventually.
Supply along with demand forces
Its supply is deflationary. It means that Baby DOGE coins are usually burned for reducing supply. For example, in July the crypto declared around 250 trillion coins burning. The total crypto supply is 420 quadrillion. Such successive burns significantly decrease the supply. Now it has burned 41% of the overall supply.
Additionally, the main liquidity provider tokens are locked or else burned. Decreasing the supply will increase the value. It means the price will be increasing, provided there is an increase in the demand or it stays the same.
The ecosystem of this coin includes a rewards system. It distributes around 5% of transaction costs to all users. It means that you can simply earn if you hold these coins in your wallet. It is an alluring feature that may be attracting investors who push demand and thus the value upwards.
If Baby DOGE is backed by Elon Musk or other enthusiasts of meme coins, its prices could rise a lot. It is at a position of 2854. Yet it has a huge way to go toward reaching the leading 10 digital currencies. It has huge room for growth that would be translating to great profits if it can catch up with Dogecoin’s likes.
Much buzz has been created by the meme coins in the cryptocurrency space last year. Coins such as DOGECOIN and SHIBA INU grew a lot, minting new millionaires. DOGE knock-offs have started to ride on such waves. They experienced huge growth. Baby DOGE began the year with a gain in value as the remaining meme coins that are dog-themed dipped. This may not mean too much, 2022 may be the year of the meme coin Baby DOGE.