SHIB Rival BabyDoge Scores Major New Milestone, Asset Price Goes Up

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As a researcher with a background in cryptocurrencies and blockchain technology, I find the recent developments surrounding BabyDoge, a meme coin that has emerged as a rival to Dogecoin and Shiba Inu, particularly intriguing. The announcement of BabyDoge’s listing on Toobit, a top 30 global crypto exchange with over 500,000 users and a daily trading volume of $768,706,316, is an impressive milestone for the project.

The up-and-coming meme token, BabyDoge, has made an important announcement via its official social media platform (X), revealing that it has secured a significant new listing. This development comes as BabyDoge looks to challenge the dominance of Dogecoin and Shiba Inu, currently the two largest meme cryptocurrencies by market capitalization.

BabyDoge goes live on Toobit

Based on the current market data, the value of BabyDoge meme coins experienced a significant increase of approximately 4% today. Subsequently, there was a minor setback causing it to retreat. At present, each BabyDoge coin is being traded for $0.000000001927.

As an analyst, I can tell you that I’ve recently noticed that BabyDoge has been added to the Toobit crypto exchange, which ranks 29th on CoinMarketCap’s list of trading platforms by daily trading volume. Toobit currently boasts a significant daily trading volume of over $768 million and more than half a million users worldwide. This listing has expanded BabyDoge’s reach and accessibility in regions such as the former Soviet Union, Europe, Turkey, Vietnam, Japan, MENA, and South Korea, thereby increasing its exposure and liquidity in these markets.

As a proud investor in BabyDoge, I’m thrilled to announce that we have reached an significant achievement: BabyDoge has been listed on Toobit, a prominent global crypto exchange with approximately 500,000 users and boasting a daily trading volume of over $715 million! 💥 This major milestone increases BabyDoge’s visibility and liquidity, allowing us to expand our presence in regions such as the CIS, EU, Turkey, MENA, and beyond. 🎉

— Baby Doge (@BabyDogeCoin) June 7, 2024

Based on a tweet from Toobit, the opening of BabyDoge deposits occurred on June 6. The spot trading commencement was set for today at 8:00 a.m. UTC, while withdrawals are scheduled to be enabled starting from June 8.

BabyDoge contract renounced on Ethereum

This week, the BabyDoge team made a significant move towards becoming more decentralized. Through a community vote, they have chosen to relinquish control over the BabyDoge token contracts on both the Binance Smart Chain (BNB) and Ethereum networks. By doing so, the team will no longer be able to manage token issuance or make any modifications to these contracts. This step ensures that the tokens are now fully decentralized. The Ethereum contract has already been renounced, while the team is in the process of completing technical checks for the BNB chain.

Exciting Update: 🚨💡 The BabyDoge token contract on Ethereum has been formally relinquished by us! 🎉 This action is significant as it advances our decentralization efforts and bolsters community confidence.

Here’s the related transaction for your reference:

Many thanks to our exceptional community for their unwavering support. We are now in the process of relinquishing…

— Baby Doge (@BabyDogeCoin) June 6, 2024

The team put forth a proposal to the community on May 30 for commencing the integration of BabyDoge on the Solana network. This move aims to boost transaction speeds, lessen fees, and enhance interoperability.

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2024-06-07 15:30