The popular Baby Doge meme token has depreciated quite a bit, even after the token’s image was taped all over Brandonbilt Motorsports # 68 Chevrolet Camaro at the NASCAR Xfinity Series in Atlanta last weekend. On Monday, the Baby Doge statistics show that the coin has depreciated by 42% in the last seven days and by more than 2% in the last 24 hours.
Baby Doge beaten up by adult markets, donates six figures to animal shelter
For the past two weeks, the cryptocurrency community has been focusing on a meme-based cryptocurrency called Baby Doge (BABYDOGE). There are a couple of reasons Baby Doge made it into the spotlight, and Elon Musk’s July 1 tweet about the token probably didn’t hurt. Still, its value has increased a whopping 931% in 30 days. Bitcoin.com News reported on Musk’s incoherent baby doge tweet and how the dog token came very close to a market cap of $ 2 billion.
However, since then, Baby Doge has gone down significantly and is currently trading for $ 0.000000002993 per unit. Data from coingecko.com shows that the token has a 24-hour trading volume of $ 8,239,318. The volume is divided between Pancakeswap versions 1 & 2, Xt.com and Lbank. On Monday, BABYDOGE’s market valuation is $ 1.2 billion, after falling from $ 1.925 billion a week ago. While the Baby Doge token has lost tremendous value, the social community has nonetheless grown significantly.
The project’s Telegram channel has 122,654 members and over 18,000 are online at the time of writing. The token’s official Twitter account now has 131,500 followers and there are 4.1K subscribers in the r / babydogecoin subreddit.
The team has also sought recognition through marketing programs and charitable causes. For example, the Baby Doge community donated over $ 100,000 to the Metro Atlanta Animal Shelter to rescue dogs. The community also helped Furkids Animal Rescue and Shelters get a new van for the shelter’s “Transfur” program. The Van der Furkids also bears the BABYDOGE logo and the website.
Baby Doge goes to NASCAR
After running the Dogefather in NASCAR, the Baby Doge Token team had also worked with NASCAR racer Brandon Brown and Brandonbilt Motorsports. Last weekend in Atlanta, Brown’s car also featured the babydogecoin.com domain name and the Babydoge logo.
Brown reached the checkered flag from 31st position on Saturday at Atlanta Motor Speedway. Brown’s Camaro suffered “severe front-right damage” while only a handful of laps remained.
“It was a tough break for Brown as the # 68 Chevrolet Camaro ran 10th for most of the event,” said Brandonbilt Motorsports. Brandonbilt added by thanking some of his new sponsors:
“Still, we’d like to thank Baby Doge Coin, The Erosion Company – TEC, and Furkids Animal Rescue and Shelters for taking part in their very first NASCAR Xfinity Series race this weekend.”
This week’s meme coin markets collision course
The famous Dogecoin (DOGE) meme token had entered the NASCAR scene a long time ago when DOGE fans decided to raise 68 million DOGE to sponsor Josh Wise’s Ford Fusion. The Dogecoin decked out vehicle recently made headlines on June 19, 2021 when Stefan Parsons crashed it at the Nashville Superspeedway race. On Monday July 12th, data shows that meme-based cryptocurrencies have also depreciated over the past week.
Shiba Inu (SHIB) is down over 12% this week and Dogecoin (DOGE) is down 14.6%. Baby Doge’s 42.4% loss is much bigger than these two, but a coin called Alaska Inu (LAS) has lost 70% this week and Jejudoge (JEJUDOGE) has fallen over 60%. However, Elon Doge Token (EDOGE) is up over 48% this week and Keanu Inu (KEANU) is up 35.4%.
What do you think about the baby dog coin losing more than 40% in value this week and NASCAR sponsorship? Let us know what you think on this matter in the comments below.
Photo credits: Shutterstock, Pixabay, Wiki Commons, Brandonbilt Motorsports
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