BabyDoge (CRYPTO: BABYDOGE) has extended a two-week rally to hit a price of $0.000000003813 even as other Dogecoin (CRYPTO: DOGE) inspired cryptocurrencies have seen their prices decline.
What Happened: In the last 24 hours, BABYDOGE surged 23% and had a trading volume of $96.5 million.
The meme-based cryptocurrency has surged by 120% over the past week and 144% over a 14-day period.
As of Friday morning, BABYDOGE had 1.15 million holders, surpassing Shiba Inu (CRYPTO: SHIB) in terms of total holders.
New Record: #BabyDoge reaches an astonishing 1,155,000+ holders.
Current Holder Count: 1,155,791
The top 1000 BNB wallets are holding 45,436,318,454,342 #BabyDoge ($189,678 USD)
— WhaleStats – the top 1000 BSC richlist (@WhaleStatsBSC) January 7, 2022
Why It Matters: Most meme-based cryptocurrency tokens have seen their price appreciate significantly driven by enthusiasm from a growing community of users.
In November 2021, Shiba Inu saw its price surge after hitting an important milestone of 1 million users.
It appears the crowd momentum has now shifted toward this smaller-cap meme coin, as Dogecoin and Shiba Inu have seen their prices slump in the last few weeks.
According to data from LunarCrush, Dogecoin’s social dominance was down by 18.3% while its volatility was up by 188% in the last week.
Bearish sentiment surrounding DOGE also saw a 73% increase in the last week alone.
Meanwhile, SHIB saw a 0.4% increase in social volume, and bearish sentiment around the coin was down 16.4% over the same period.
Photo by Oleksandr Horbach on Unsplash.