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Reduced supply, increased value: BabyDoge token burn a success

BabyDoge

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TL;DR

  • The BabyDoge team and community have burned over half a quadrillion BabyDoge tokens to reduce the token’s overall circulation.
  • The total amount of BabyDoge tokens burned is now approximately 48.776% of the initial total supply of 420 quadrillion tokens.
  • The BabyDoge team burned 257 trillion BabyDoge coins worth over $668,000, and another 310 trillion BabyDoge tokens worth $806,000 were sent to dead wallets.

In the latest move by the BabyDoge team and the community, over half a quadrillion BabyDoge tokens have been burned in the last 24 hours. This token burn has increased the amount of BabyDoge tokens burned from the total supply, indicating a significant effort to reduce the token’s overall circulation.

According to Burn BabyDoge, 573,504,926,643,400 BabyDoge tokens worth $1,486,525 have been burned in the last 24 hours.

This brings the total amount of BabyDoge tokens burned from the initial total supply of 420 quadrillion tokens to 204,860,147,437,640,768, approximately 48.776%.

The BabyDoge team has shared a breakdown of the massive burn figure, revealing that they burned 257 trillion BabyDoge coins worth over $668,000. Another 310 trillion BabyDoge tokens worth $806,000 were also sent to dead wallets in a significant transaction. The official Twitter account shared proof of the burn transactions on BscScan.

It is worth noting that Baby Doge Coin confirmed that it would burn five BabyDoge for each token burned through the burn portal, which launched in mid-February. The community has burned over 51 trillion BabyDoge tokens through the burn portal. The BabyDoge team has matched the community’s efforts with a five-times burn of this amount, which is 257 trillion BabyDoge.

Burn tracker Burn BabyDoge reported that quadrillions of tokens had been burned since the year’s start. According to it, 3.63 quadrillion tokens worth $9,660,188 were burned in the last three months alone, indicating a significant effort to reduce the overall circulation of the token.

This latest move by the BabyDoge team and the community is expected to positively impact the token’s price and value in the market. The token burn will reduce the overall supply of BabyDoge, making it more scarce and valuable to potential investors. As the cryptocurrency market continues to evolve and grow, the efforts of the BabyDoge team and community to reduce the token’s circulation will undoubtedly be critical to the token’s success in the long term.

Disclaimer. The information provided is not trading advice. Cryptopolitan.com holds no liability for any investments made based on the information provided on this page. We strongly recommend independent research and/or consultation with a qualified professional before making any investment decisions.

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Mutuma Maxwell

Maxwell especially enjoys penning pieces about blockchain and cryptocurrency. He started his venture into blogging in 2020, later focusing on the world of cryptocurrencies. His life's work is to introduce the concept of decentralization to people worldwide.

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