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What is the issuance amount of BabyDoge coins?
BabyDoge's initial issuance amount of 420 quadrillion coins, coupled with its deflationary burn mechanisms, aims to increase the scarcity and value of the circulating supply.
Dec 13, 2024 at 09:52 am
What is the Issuance Amount of BabyDoge Coins?
BabyDoge, a popular meme coin launched in June 2021, has garnered significant attention within the cryptocurrency ecosystem. Its issuance amount, circulating supply, and overall tokenomics play a crucial role in understanding the coin's value and investment potential.
1. Issuance Amount
- The BabyDoge coin has an initial issuance amount of 420 quadrillion coins.
- This vast supply is designed to cater to the coin's deflationary nature, which aims to reduce the circulating supply over time through burning mechanisms.
- By having a large initial supply, BabyDoge ensures that it can maintain a low price point while facilitating widespread distribution.
2. Circulating Supply
- Out of the initial issuance amount, a significant portion has been burned, reducing the circulating supply to approximately 152 quadrillion coins as of January 2023.
- The burning process involves removing coins from circulation, permanently reducing the total supply and increasing the scarcity of remaining coins.
- BabyDoge's deflationary mechanics aim to increase the value of each coin as the circulating supply decreases.
3. Tokenomics of BabyDoge
- BabyDoge is based on the BEP-20 token standard, operating on the Binance Smart Chain.
The tokenomics model includes a 10% transaction tax, which is distributed in the following manner:
- 5% is redistributed to BabyDoge holders, incentivizing holding and long-term investment.
- 5% is split between liquidity pools and a burn wallet, contributing to the coin's price stability and deflationary nature.
4. Utility and Community
- BabyDoge aims to offer utility beyond its meme coin roots.
- The project has partnered with organizations such as Paws with Cause, a non-profit providing service dogs for individuals with disabilities.
- The BabyDoge community plays an active role in supporting charitable causes and promoting the adoption of BabyDoge as a medium of exchange.
5. Market Performance
- Despite its initial price volatility, BabyDoge has gained significant traction and reached a peak market capitalization of over $200 million.
- Its price movements are influenced by market sentiments, community support, and broader market conditions.
- Long-term investors believe in the potential of BabyDoge's deflationary model and community-driven initiatives.
Additional Factors
- Accessibility: BabyDoge's low price point makes it accessible to a wide range of investors, encouraging community growth and adoption.
- Community Engagement: The BabyDoge community is highly active on social media and online forums, fostering a sense of belonging and contributing to the coin's popularity.
- Marketing Efforts: The BabyDoge team has actively promoted the coin through online campaigns and partnerships, raising awareness and increasing adoption.
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The information provided is not trading advice. kdj.com does not assume any responsibility for any investments made based on the information provided in this article. Cryptocurrencies are highly volatile and it is highly recommended that you invest with caution after thorough research！
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