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'Baby Doge': Elon Musk sends new coin up 93% in 1 day

·Personal Finance Editor
·2-min read
Elon Musk and Baby Doge
The new crypto is off to a roaring start after a tweet from Elon Musk (Source: AAP/Instagram @thebabydogecoin)

You’ve heard of DogeCoin, named after the meme of a Shiba Inu.

Now, prepare yourselves for Baby Doge.

The new cryptocurrency has hit the market running after a tweet from Elon Musk where he mixed the name of the new digital currency with the well-known tune from the children's song ‘Baby shark’.

It may not have been much, but it was enough to cause the price to boom over 93 per cent in 24 hours.

What is Baby Doge?

Baby Doge is essentially what you’re thinking; based on DogeCoin but just newer and with a character that is more childlike.

Baby Doge has been launched by fans and members of the DogeCoin online community, according to its website.

“Baby Doge Coin has learned a few tricks and lessons from his meme father, Doge,” the website said.

“Baby Doge seeks to impress his father by showing his new improved transaction speeds and adorableness.”

Much like Doge Coin, Baby Doge is also hyper-deflationary meaning there is a limited amount that can be mined and therefore the value of each coin should rise as more are created.

Baby Doge 'tokenomics'
(Source: Baby Doge)

The website said Baby Doge has a clever system built in so more coins will be added into your digital wallet with each transaction.

“Simply love, pet and watch your baby doge grow,” the website said.

The creators of the coin have also teamed up with Paws for a Cause which works for 45 shelters within the United States.

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