To celebrate its first anniversary, the meme coin BabyDoge announced a governance proposal to burn 50 quadrillion tokens on the Ethereum blockchain. The proposal passed on June 29 and will take effect July 1, coinciding with a 70% price surge over the past two weeks.
Key Details of the Burn Event
- Burn Volume: 50 quadrillion BabyDoge (~$85,000 at current prices)
- Execution Date: July 1 on Ethereum
- Total Burned to Date: 196 quadrillion (46.7% of initial 420-quadrillion supply)
"Our first community proposal ended today: 50 quadrillion burn on ETH chain on July 1st."
— Baby Doge (@BabyDogeCoin)
Recent Price Performance
BabyDoge saw a 74% price increase from June 19–28, peaking at $0.000000001890. However, it remains **76% below** its January 2022 all-time high of $0.000000006345.
👉 Track BabyDoge's real-time price movements
Historical Context
- Origin: Launched June 2021 as a Dogecoin spinoff
- Elon Musk Connection: Gained traction after Musk tweeted modified lyrics to "Baby Shark" referencing BabyDoge in July 2021 (triggering a 130% single-day surge)
- Recent Activity: Official account celebrated Musk's 51st birthday on June 28 while soliciting life advice from the community
Tokenomics Update
| Metric | Value |
|---|---|
| Initial Supply | 420 quadrillion |
| Burned to Date | 196 quadrillion (46.7%) |
| Recent 24h Burn | 10.4 trillion ($17,743) |
FAQ
Q: Why is BabyDoge burning tokens?
A: The burn commemorates its 1st anniversary and aims to increase scarcity. Burns are recurring—24.9 trillion were burned in May 2022.
Q: How does burning affect price?
A: Reducing supply can create upward pressure, but broader market trends remain influential. The recent 70% surge suggests positive sentiment around this event.
Q: Where can I track BabyDoge burns?
A: Follow @BabyDogeBurn_ for real-time burn data.
Market Outlook
While meme coins face volatility, BabyDoge demonstrates active community engagement through:
- Governance participation (Snapshot voting)
- Sustained burn mechanics
- Celebrity-adjacent marketing
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Analysts note the project must balance meme appeal with utility to maintain long-term viability beyond periodic hype cycles.