Baby Doge Coin is rapidly gaining popularity, achieving record performance supported by market activity and significant investor interest.
Record-Breaking Trading Volume
In the past 24 hours, Baby Doge Coin's trading volume reached approximately $1.52 billion. This surge is also evident in futures trading; open interest for Baby Doge Coin futures increased by 44%, reaching $104 million in one day.
Whale Activity Fuels the Rally
A major factor in Baby Doge Coin's rally is the interest from large holders, known as 'whales'. Analytics firm IntoTheBlock reported that on December 8, net inflows of Baby Doge Coin reached 10.21 trillion tokens, compared to a net outflow of 1.22 trillion tokens days earlier.
Recent Developements
In addition to its price increase, Baby Doge Coin has expanded its reach across various blockchain networks, recently launching on the Solana network. Binance announced a spot listing for Baby Doge Coin in late November, and a meme launchpad on the BNB Chain has also been announced.
The sudden rise of Baby Doge Coin highlights the significant interest in this cryptocurrency despite a broader market decline, indicating its potential for future growth.
