Key Takeaways
- Elon Musk tweets about Baby Doge leads to price surge
- Baby Doge claims to be a better version of Dogecoin
- Musk believes Dogecoin needs better technical infrastructure to compete with Bitcoin
Musk, known for his controversial tweets, posted a tweet where he added Baby Doge to the Baby Shark Dance lyrics. Baby Shart Dance is the most viewed video on Youtube, with more than 8 billion hits.
As expected, the tweet went viral in the crypto space leading to a pump in the price of Baby Doge. We take a look at what Baby Doge is and its major differences from popular memecoin Dogecoin.
Baby Doge is a memetoken that has taken a lot of symbolic attributes from Dogecoin, like its ideals and mission. However, several differences exist between the two meme coins. Dogecoin is built on its blockchain network with a similar name and has similar characteristics to Bitcoin.
Baby Doge meanwhile, is a BEP-20 token built on the popular Binance Smart Chain network. This makes it similar to Shiba Inu (SHIB), a meme token regarded as the biggest rival to Dogecoin and was recently listed on Coinbase.
Baby Doge website claims that the token has integrated some tricks and lessons from its father Doge and wants to impress it with better transaction speeds and a better ecosystem. In addition, the coin appears to have gotten the attention of the acclaimed DogeFather Elon Musk, and this endorsement is likely to boost its growth.
It should not be surprising that Musk is onboard the new memecoin as he has long advocated a better technical infrastructure for Dogecoin.
Furthermore, the Tesla CEO has previously stated that he believes that Dogecoin would defeat Bitcoin with improved changes. It remains to be seen if Baby Doge will achieve a significant splash in the coming future.
Do you think Baby Doge is the real thing or another boom that will pass away?
