BABYDOGE Will Trade On The Poloniex Crypto Exchange

BabyDoge listing on Poloniex (Photo; Doc. Coin68)

JAKARTA - Poloniex, one of the leading crypto exchangers, recently announced the addition of new tokens to its trading platform - BabyDoge (BABYDOGE). This step is expected to provide crypto traders with access to new investment opportunities and create enthusiasm among the crypto community.

According to the announcement issued, users can start depositing BABYDOGE on the Poloniex platform starting February 17 at UTC. While BABYDOGE/USDT trading will start two hours later at 00:30 p.m. (UTC). Unfortunately, the exchange has not provided any information regarding the initial price of the token or the total supply that will be available for trading.

Launched in 2021 with a total supply of 420 quadrillion tokens, Baby Doge has generated a lot of attention due to its unique features. One of the salient characteristics of BABYDOGE is the cost of 10 percent imposed on each trade. This cost will be divided among all existing BabyDoge Coin holders and is also used to provide liquidity for trading.

Baby Doge has been popularized by tech industry figure Elon Musk, who changed the lyrics of the song "Baby Shark" to refer to the Dogecoin branch, although he hasn't recognized the coin himself yet. The tweet pushed BabyDoge prices soaring in July 2021 and helped the token distinguish itself from other impersonators that emerged after the Dogecoin rally. BabyDoge's market capitalization is $621 million, according to CoinGecko, and the token is trading on several exchanges including OK, MEDSC Global, and Gate.io.

As a BEP-20 token built on the Binance Smart Chain, Baby Doge claims to offer fast and efficient processing, at low gas cost and processing time in just five seconds. One unique feature of the BABYDOGE protocol is nearly 43 percent of the supply of burned initial tokens (burn), with further monthly burning being done to manage supply.

In early February, the development team behind BabyDoge launched a combustion portal. Through the portal, the development team will burn five tokens for each token burned by the community until April 1, potentially making deflation tokens rarer. With the addition of BABYDOGE to the Poloniex crypto trading platform, crypto traders are expected to find exciting new investment opportunities.