https://ift.tt/33D3nrB Coin is up by 300% in a month: What’s driving the meme coin?

TL;DR Breakdown

• Baby Doge Coin is up by 300% in a month and 50% in 2 weeks. 
• Major listing announcements are driving the meme coin’s prices. 
• More than 1.2 million traders are holding the BabyDoge.

The Dogecoin inspired meme coin BabyDoge is soaring, as prices are up by almost 50% in a week. Even in the ongoing bear market, this latest meme coin is touching new heights every week. The meme coin reached an all-time high of $0.000000006345 earlier this week. 

The meme coin is up by over 300% since last month, and 90% in 2 weeks. But what’s driving this unprecedented growth, especially when the rest of the market is still suffering from the bears? 

BabyDoge has gained a number of key listings over the last few months. Earlier this week, major Hong-Kong based crypto exchange CoinEx listed BabyDoge, which led to a significant increase in its trading volume. 

There’s also growing speculations that Binance will list the Doge inspired meme coin very soon. BabyDoge also crossed over 1.2 million holders last week. So there’s major community support behind this meme coin. 

It’s been a massive week for DogeCoin, as Tesla started accepting the meme coin for a number of its products. Dogecoin has come a long way as a meme coin, and its roadmap in 2022 shows the target for achieving mass adoption. 

When Dogecoin achieves wider success in the market, it also drives more confidence into other meme coins, such as BabyDoge. The Dogecoin inspired token is also based on the BSC blockchain. This helps the coin to keep its transaction fees low, unlike ERC-20 coins such as Shiba Inu. 

If the doge inspired meme coin continues to gain major exchange listings, it might drive its prices even higher for months to come. However, traders must lookout for sell-off periods, as the whole crypto market is still being controlled by the bears.