The memecoin Baby Doge Coin (BABYDOGE) has reached a new record, achieving a market capitalization of $1.06 billion. The token's price increased by 13% in just one day.
Record-Breaking Trading Volume
In the past 24 hours, Baby Doge Coin's trading volume was approximately $1.52 billion. Futures trading has also risen, with open interest increasing by 44%.
Whale Activity Fuels the Rally
A key factor in Baby Doge Coin's growth has been the interest from large holders, or 'whales'. On December 8, the net inflow of tokens was 10.21 trillion.
Recent Developments
Baby Doge Coin is expanding to various blockchain networks, including Solana. Binance announced a token listing in late November. A meme launchpad on the BNB Chain has also been announced.
The observed growth of Baby Doge Coin demonstrates the potential for memecoins during turbulent times in the crypto market. Current developments may boost interest in the token.
