Memecoins remain on the upsurge, with one specific token having that loud bark amid a strong rally ushering in the new year.
Baby Doge coin, another meme of the meme cryptocurrency Dogecoin, has soared 99 percent so far in 2022, Bloomberg reported. Baby Doge price has actually risen 30.59 percent in the last seven days, as per Coinbase, showing its massive bull run potential this year.
Currently, however, Baby Doge has slipped 4.01 percent in the last 24 hours and is trading at $0.000000003751, according to CoinMarketCap real-time data.
Baby Doge Surges Amid Broader Cryptocurrency Crash
This is despite the drop in value of fellow Shiba Inu-themed meme tokens in the first few weeks of 2022. Dogecoin, Shiba Inu and Floki slipped between nine percent and 32 percent since the start of the year, CoinMarketCap revealed, amid a broader crypto market crash.
This crash, which also affected the leading cryptocurrencies Bitcoin and Ethereum, has led to trillions in lost value. Their plummeting prices were due to tightening Fed monetary policies and the debilitating Omicron COVID-19 variant, which have all made the gleaming memecoins and other risk assets lose their luster. Bitcoin dropped from about $70,000 to just above $40,000 this week, emphasizing a terrible start for cryptocurrencies in 2022.
Baby Doge's impressive rally, however, is attributed to hype and speculation. Enthusiasts are boosting the value of the coin through their social media posts, especially on Twitter using the hashtag #babydoge. Presently, they are driving the pupcoin for the world's largest crypto exchange Binance to list Baby Doge on its platform.
Having Binance to list Baby Doge should spark a huge surge for the memecoin that would be similar to how Shiba Inu soared in October last year. When the Shiba Inu community successfully pushed Robinhood to list SHIB on its exchange, the coin rose to all-time highs. SHIB, however, shed much of its value since then because of the brokerage's failure to meet user demands.
Investors saw Baby Doge's appeal after the coin trended on Twitter the past week. It's current price of $0.000000003751 showed it doubled its value since the end of 2021.
Bullish Baby Doge Price Prediction Until 2029
A bullish price prediction is seen for Baby Doge, with Crypto Academy foreseeing that the coin will reach $0.00000006 by the end of 2022. It is unlikely, however, that Baby Doge will go beyond this value due to its limited supply, but it should further increase in the coming years. It is predicted that Baby Doge will hit $0.00000012 by 2024 and surge to $0.00000015 by the end of that year.
Digital Coin, meanwhile, sees Baby Doge to reach $0.00000000562 this year and $0.00000000636 in 2023 before steadily growing up to 2029, when it would hit $0.00000001691. Most indicators on its platform showed that Baby Doge is indeed a very strong buy.
Another platform, Wallet Investor, considers Baby Doge as a "not so good long-term investment," but said BABYDOGE remains a growth prospect.