Price Reaction to BabyDoge’s Massive Burn of 1 Quadrillion Tokens
1 quadrillion BabyDoge tokens, worth over $2.6 million, have been burned along with $13,000 worth of BabyDoge being bought and sent directly to the burn address. Burn BabyDoge reported that 4.99 trillion Baby Doge Coin worth $12,600 was transferred to dead wallets. In the last 24 hours, 1,013,000,584,992,954 BABYDOGE tokens have been burned. The burn portal was launched on Feb. 13 to reduce the BabyDoge supply, with the aim being to burn five tokens for each token burned through the platform until April 1. So far, 204,061,703,987,975,136 BABYDOGE tokens have been burned, amounting to 48.586% of the total supply of 420 quadrillion tokens. This implies that since the burn portal’s launch, nearly 1.5 quadrillion tokens have been burned. BabyDoge coin was changing hands at $0.000000002392, down 8.59% in the last 24 hours and down 18.51% in the last seven days. The massive burn has not impacted the price in the short term as much as technical factors. The burning is expected to boost a token’s price in the long run, but whether this would be the case for Baby Doge Coin yet remains unknown.
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