Baby Dogecoin: Where to buy Elon Musk’s new favourite cryptocurrency in India?

Jagadeesh Tamilselvan 03 Jul 2021 48

Baby Dogecoin snuck its way into crypto-enthusiasts minds ever since Tesla CEO Elon Musk tweeted about it. But how credible is a meme currency and where to buy?..

A random tweet comprising of the ‘Baby Shark’ song by Tesla co-founder Elon Musk saw the stakes of the Baby Doge, a sequel to the larger parent Dogecoin, rise up to a whopping 80%. Baby Doge is more of a pyramid scheme than a tech investment. Although, unlike its antecedent, Dogecoin, whose supply can be infinite, in theory, Baby Doge is deflationary in nature, meaning that it values scarcity.

Whenever a transaction with Baby Doge is complete, users are charged a 10% transaction fee. This fee is further redistributed to token holders, and the earliest investors get the largest portion of these rewards. So, as time goes on, the rich get richer, and those at the bottom of the pyramid scheme make pennies from this ‘smart staking system’.

Although Baby Dogecoin primarily focuses on charity and donates to ‘Paws With a Cause’, a foundation focused on helping sheltered dogs.

 

 

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Tags: Doge, ElonMusk, Market,
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