The Baby Doge Coin has had a spectacular performance in the past few days even as other cryptocurrencies have struggled. BABYDOGE is trading at 0.0000000036 USDT, which is about 127% above the lowest level this year. According to CoinGecko, it has a total market capitalization of over $606 million, making it the 148th biggest cryptocurrency in the world.
Baby Doge Coin is one of the many meme coins in existence today. Others are Dogecoin, Shiba Inu, Floki Inu, and Dogelon Mars. The coin, according to Bloomberg, does not have any inherent value.
The reason for this price action is speculation that Baby Doge will keep rising in the near term as demand rises. At the same time, the coin has been trending in social media platforms like Twitter and Reddit in a sign of pump and dump. Also, there have been calls for Binance to list the token. This trend reminds close watchers of how the Shiba Inu price soared after a petition called for Robinhood to list the coin.
Baby Doge Coin price prediction
The four-hour chart shows that the BABYDOGE price is trading at an important level. The current price is also where it struggled to move above between November 8th and November 15th last year.
The coin has moved above the 25-day and 50-day moving averages and is forming the handle section of the cup and handle pattern.
Therefore, while Baby Doge Coin has no inherent value, there is a likelihood that the price will keep rising in the near term as the pump and dump scheme continues. In the long-term, the coin will likely resume the bullish trend and drop below the support at 0.0000000027 USDT.
