After making massive gains shortly after launching four weeks ago, BABYDOGE’s price seems to be moving towards a downtrend. The token recently moved into the limelight after receiving recognition from Elon Musk, and buyers rallied up to buy the token for short term gains.
At the time of writing, BABYDOGE is trading at $0.000000002788 after a 20.1% dip in 24 hours.
BABYDOGE Price Analysis
After experiencing a massive upswing in recent days, Baby doge seems to be moving towards lower levels. Baby doge picked interest in the market after it trended shortly after an Elon Musk tweet. The coin’s value skyrocketed by over 400%, and holders were in for massive gains.
Currently, the broader crypto market is trading at the green zone; hence, baby doge’s price could be following this trend, just like the other altcoins. If the market recovers during any trading period, baby doge might go up again.
However, the dip in baby doge’s prices could also be because of a price correction. The coin’s current value is because of a few days of investors buying into the token; hence the uptrend may have reached exhaustion. If the token was also overbought, this could also be causing the downtrend.
Nevertheless, investors are waiting for the dip to jump in and buy the coin, hoping that the hype around it will rise again. Garnering buying support during the dip might also help to consolidate prices.
There was much scepticism in the market when baby doge came into the limelight last week. With the coin not having any technology to back it up, many assumed that the uptrend was just a pump and dump, where late investors would suffer significant losses.
However, contrary to these opinions, baby doge seems to be moving with speed towards boosting adoption. Baby doge will feature in the NASCAR Xfinity Series. Other coins that have also featured here include dogecoin.
Where to Buy Baby Doge
Those who want to buy baby doge can do so from the following cryptocurrency exchanges
eToro is one of the exchanges that support a variety of cryptocurrencies and trading pairs. One of the best things about trading on eToro as a new trader is because it has a copy trading feature that helps you maximize profits.
PancakeSwap is one of the exchanges where you can buy baby doge. Since PancakeSwap is based on the Binance Smart Chain, you have to buy BNB tokens so that you can exchange them with BABYDOGE.
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