Baby Dogecoin a younger member of the Dogecoin memecoin family has surged by over 75% following a new suggestive tweet by Elon Musk perceived as an endorsement of the memecoin by the Billionaire.
Baby Doge coin surged from a 24-hour low of $0.0000000002443 to as high as $0.0000000004448 following Musk’s tweet. This comes at a time when Bitcoin retracted from its new all-time high of $103,000.
Elon Musk tweeted a Godfather-themed picture of him and his son and tagged it Doge and Minidoge. This was perceived by the crypto community to be a cryptic endorsement of Dogecoin and Baby Dogecoin.
The Official Twitter account of Baby Doge Coin engaged the Elon Musk tweet seeking clarifications but got no response.
Dogecoin and Baby Doge coin surged after the tweet with Dogecoin surging by 4% while Baby Doge surged by a whopping 75%.
On Dec 5, the Baby Doge team tweeted about the correlation between Elon Musk’s posts and the price action of the Baby Dogecoin.
“In the crypto world, the only thing more unpredictable than Baby Doge’s next move is what Elon Musk will post next.” Baby doge theme tweeted
Besides the tweet by Elon Musk, the baby dogecoin could be creating other factors in its ecosystem. The Team behind the memecoin is working on launching their own Memecoin Generator to rival Pump Fun and SunPump.
The memecoin generator by the project is to be called Puppy Fun as posted on its tweet about the project.
Memecoin generators are seen as lucrative investments for Crypto projects as Solana’s Pump Fun has pulled in nearly $100 million since its launch.
Baby Doge Expands into the Solana Network
Baby Dogecoin has recently expanded to the Solana network after its launch. BABYDOGE recently announced their token contract on Solana increasing the number of networks the crypto asset operates on.
The meme coin, which was initially launched on the BNB Chain, has now also expanded to the Solana network.
In late November, Binance had also announced a new spot listing for BABYDOGE adding to the credibility of the project.
What To Know
- The recent surge of BABYDOGE amidst the volatile market conditions and bitcoin retracing in price could primarily be attributed to Musk’s tweet alongside the overall developments by their team.
- Elon Musk is in the habit of dropping cryptic tweets around crypto tokens which usually leads to a surge in prices. In the early days of Dogecoin, He was heavily involved in the project promoting it directly with his X page till it led to a lawsuit.
