Should you buy BABYDOGE after its recent spikes in value?

Baby Doge Coin BABYDOGE/USD is a cryptocurrency token that was created by fans of the Doge Meme coin community. It specializes in providing quicker transaction speeds and is hyper-deflationary with a static reflection that rewards holders.

This means that more Baby Doge coins, or 5% from each transaction, it automatically added to cryptocurrency wallets with each transaction.

BABYDOGE utility as a catalyst for growth

On January 6, we covered where you can buy Baby Doge Coin.

Within the span of just a month, BABYDOGE saw an increase in its value by 192%. 

This reason is driven by speculation, just as was the case throughout the previous booms of similar cryptocurrency tokens.

In the case of BABYDOGE, enthusiasts have been pumping up the coin through a variety of different social media channels but have been most prominent on Twitter with the hashtag #BABYDOGE. 

There is even a current rally towards getting Binance, which is one of the world’s largest cryptocurrency exchanges by volume, to list the token on the platform.

All of this has the potential to boost the value of the BABYDOGE cryptocurrency token.

Should you buy Baby Doge Coin (BABYDOGE)?

On January 10, Baby Doge Coin (BABYDOGE) had a value of $0.000000003848.

To see what this value point means for the BABYDOGE token, we will go over it’s all-time high value and its recent performance.

The all-time high value of the BABYDOGE token was on July 4, 2021, when it reached $0.000000005890. Here, we can see that at its all-time high value, the token was $0.000000002042 higher in value or by 53%.

When we go over the performance of the token last month, we can see that on December 1, it had its highest point of value at $0.000000002399.

Its lowest point of value, however, was on December 14, when the token decreased to a value of $0.000000001315. This marked a decrease of $0.000000001084 or by 45%.

However, from December 14 to January 10, Baby Doge Coin (BABYDOGE) saw an increase in value of $0.000000002533 or by 192%.

With this in mind, this is a solid point in time to buy BABYDOGE as it has the potential to reach $0.0000000052.

The post Should you buy BABYDOGE after its recent spikes in value? appeared first on Invezz.