Baby Doge Coin (BabyDoge) Down 28% Weekly Despite Burn Portal Takeoff, Listings

To the delight of its community, Baby Doge Coin launched its much-anticipated burn portal on Feb. 13. Before the public launch, BabyDoge’s price had displayed an impressive performance, rising more than 400% since the beginning of the year.

On the day of the launch, the team announced that it would burn five tokens for each token burned on the portal through April 1.

That said, BabyDoge Coin is seeing encouraging burn statistics following the launch of the burn portal. In the last 24 hours alone, 12,606,036,147,936 BabyDoge worth over $36,747 has been burned.

According to weekly burn stats last provided on Feb. 19 by BurnBabyDoge, a whopping 278,714,174,633,471 BabyDoge tokens worth $921,429 were burned in less than a week of the burn portal’s existence.

So far, 202,925, 149,755,422,080 BABYDOGE have been burned, accounting for 48.316% of the total supply of 420 quadrillions.

Today, OpenOcean, a Web3 aggregator, announced the listing of BabyDoge and BabyDogeSwap liquidity for trading on its platform.

In the past week, one of the oldest cryptocurrency exchanges established in 2014, Poloniex, announced the listing of Baby Doge Coin under the USDT trading pair.

BabyDoge price takes hit

Following its massive rise since the start of 2023, BabyDoge Coin attained overbought conditions, which led to profit-taking by investors.

Since Feb. 13 after reaching prior highs of $0.00000000457, the BabyDoge price has steadily declined, marking seven red days out of nine. Taken from Feb. 18, BabyDoge might be set to mark its fourth consecutive day of losses as its price dipped further to intraday lows of $0.00000000268 at press time.

At the time of writing, the dog-themed cryptocurrency was down 10.64% in the last 24 hours to $0.000000002877, per CoinMarketCap data.

The token is down 28% in the last seven days. Despite the price declines seen on both the daily and weekly timeframes, Baby Doge Coin remains a top gainer monthly, up 138.9% in the last 30 days.