One of the earliest meme coins, Dogecoin, is undoubtedly well-known to the majority of people, but what about BabyDoge? If not, they’re lucky because the project has suddenly attracted a lot of interest. The development of numerous cryptocurrencies was made possible by the invention of meme coins.
BabyDoge tweeted on Wednesday that its eagerly awaited swap is ready to go and that its TestNet would go live in less than a week, giving lucky users the opportunity to be beta testers. The tweet read,
“BabyDoge is honored to announce our swap is complete! We invite the entire community to join us when TestNet goes live”
The dog meme currency also discloses that its DEX would provide users with more options than simply the ability to exchange one Binance Smart Chain (BSC) token for another. Users would be able to farm and stake their tokens via the swap, according to the altcoin. Users would also be able to hold BabyDoge for less money and get a free token locker.
Remember that the meme coin first announced its intentions to provide a swap in April, indicating that it will include burn functions. After that, a tweet in June disclosed that its DEX would impose costs as low as 0%.
BabyDoge rise in popularity
Notably, the doggie meme coin is gaining support and hopes to overtake the second-place finisher in the race in less than a year. The meme coin overtook leaders Dogecoin and Shiba Inu to rank third among dog-related meme coins in April. Additionally, BabyDoge has the most owners among the three, according to BscScan, with close to 1.6 million owners—more than twice as many as Dogecoin.
Aside from the growing utility, users are still drawn to the meme coin because of its consistent token burning, which contributes to its deflationary character. Notably, BabyDoge destroyed 50 quadrillion coins in July, totaling over $88 million, making it the biggest burn event in the history of cryptocurrency.
The meme coin declared on Tuesday that it is currently rated 139 on CoinGecko. BabyDoge is currently selling for $0.000000001560 with a rise of 4.6% over the last 24 hours.