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Baby Doge (BabyDoge) is one of the most actively discussed coins in the cryptocurrency community of late. The BabyDoge price has surged by over 500% in the last 2 weeks, and now the CEO of Tesla, Elon Musk, has once again entered the crypto narrative.
Baby Doge, doo, doo, doo, doo, doo,Baby Doge, doo, doo, doo, doo, doo,Baby Doge, doo, doo, doo, doo, doo,Baby Doge
— Elon Musk (@elonmusk) July 1, 2021
Musk’s comments have previously resulted in massive gains for cryptocurrencies like Dogecoin and Bitcoin, and some commentators are expecting the same surge could be about to happen for BabyDoge coin.
This article explains what the project is, how it works, and provides a Baby Doge Coin price forecast to help you understand where you are in the cycle right now. First things first, scroll down to find out the two best places to buy BabyDoge coin in the UK and elsewhere.
Where to buy Baby Doge ‘stock’ online
Before we list the two best platforms to buy Baby Doge Coin, we need to clear up a common misconception. BabyDoge is a cryptocurrency, not a stock.
The easiest, quickest and most affordable way to invest in BabyDoge coin is to sign up to a cryptocurrency broker, deposit funds and purchase coins. Here are our two top picks for buying, selling and trading BabyDoge coin:
eToro
eToro is one of the world's leading multi-asset trading platforms offering some of the lowest commission and fee rates in the industry. It's social copy trading features make it a great choice for those getting started.
Coin Kong Trader
Coin Kong facilitates rapid buying and selling of cryptocurrencies. Robust security, transparent fee charges and excellent customer support make this a great option for newcomers.
Buy BabyDoge with Coin Kong Trader today
Baby Doge Coin price prediction
Our BabyDoge price prediction is as follows:
In spite of broad bearish conditions across the wider cryptocurrency market, BabyDoge coin has managed to conistently outperform its altcoin peers, securing a marked 500% rise in the last 14 days.
The current BabyDoge price is $0.000000001667, and with sustained buying pressure reinforced by Elon Musk’s influence on market sentiment, the next logical resistance target is BabyDoge’s previous all-time high of $0.0000000022.
Given the momentum Baby Doge Coin has managed to establish in such a short time period, we would be far from surprised to see this price target tumble in July.
It is worth noting that our BabyDoge coin price forecast is bullish because of technical analysis and indicators rather than the fundamental value of the project. This means that volatility is very likely and it is not going to be a smooth road to price accretion. However, overall, we feel encouraged by what we have seen so far.
What is Baby Doge Coin?
Running on the Binance Smart Chain, it is a hyper-deflationary cryptocurrency and meme child of its father, Dogecoin. A 5% fee is applied to all transactions over the Baby Doge network, and the in-built smart staking system adds more BabyDoge tokens to the wallets of tokenholders everyday.
With a 5-second block time as opposed to Dogecoin’s 60 seconds, it offers faster transactions, increased scalability and enhanced ‘adoreableness’ when compared to DOGE.
There is nothing overwhelmingly innovative here, but the combination of smart branding, an intelligent use of memes, and an aggressive marketing package makes the project stand out from the swathes of other altcoins.
Should I buy BabyDoge today?
If you are looking for a high-risk/high-reward cryptocurrency to occupy a small, speculative section of your investment portfolio, Baby Doge Coin seems the ideal candidate.
By contrast, if you are looking for an asset that is more stable, secure and predictable, you may be better off considering alternative investment options.
Will Baby Doge Coin make me rich?
Meme cryptocurrencies have made some investors rich this year, but in order for this to happen, there would need to be a gargantuan price swing. While this is not impossible with BabyDoge, it isn’t especially likely.
Social media coverage of $BabyDoge
Thanks to Elon we will no longer be burning 3 QUADRILLION #BabyDogeCoins We will instead be burning 10 QUADRILLION in 1 hour to celebrate the 1 month birthday of #BabyDoge 🥳🔥10 Quadrillion #babydoge current value is $7.2 MILLION https://t.co/I60eGT9p6J
— Baby Doge Coin (@BabyDogeCoin) July 1, 2021
Lol Elon Musk tweets another promo and #BabyDoge went up only x2 and $DOGE is still tanking. Hes finally losing his powers
— GasFreeGamer (@gasfreegamer) July 2, 2021
Just dumped my entire net worth into Baby Doge because a CEO of a public company tweeted about it.
— OptionsMatrix👾 (@vigtecmatrix) July 1, 2021
Top stories this PM: Delta surges in 4 states; baby doge coin doubles; condo collapse rescuers lose hope https://t.co/wWB3I5lfLU
— Business Insider (@BusinessInsider) July 1, 2021
Read the Invezz crypto news to find out the latest information you need to know about BabyDoge coin and other hot cryptocurrencies.
The post Should I buy Baby Doge Coin after Elon Musk’s tweet? Here’s our price prediction appeared first on Invezz.
Disclaimer
The views and opinions expressed in this article are solely those of the authors and do not reflect the views of Bitcoin Insider. Every investment and trading move involves risk - this is especially true for cryptocurrencies given their volatility. We strongly advise our readers to conduct their own research when making a decision.