In a monumental move, Baby Doge Coin (a href=/?s=BABYDOGE>BABYDOGE), a Shiba Inu rival, has expanded from its roots as a playful memecoin to a cryptocurrency with tangible utility by launching its Decentralized Exchange (DEX) platform, BabyDogeSwap. This DEX platform aims to broaden the services available to the memecoin community through various features, including token swapping, creating farms and pools on demand, free token locker, and Non-Fungible Tokens (NFTs) available for viewing.
Although the DEX launch signifies a significant milestone for BabyDoge, it must be noted that Shiba Inu pioneered this achievement with its ShibaSwap exchange. ShibaSwap currently holds its position among the most used trading platforms in the decentralized finance (DeFi) space and maintains a daily trading volume of close to a million dollars, according to CoinMarketCap data. As BabyDogeSwap enters the market, it undoubtedly aims to tackle its more established counterpart, ShibaSwap.
However, BabyDoge is not stopping at its new DEX platform; the memecoin also plans to develop additional innovations to foster community engagement and increase its token’s value. For example, the introduction of a token burn program through its burn portal allows users to benefit from lower trading fees on the new DEX platform when they opt to burn their BabyDoge. A Virtual Crypto Card will also be made available to enable users to spend their crypto and incorporate an on-ramp feature to withdraw funds to their accounts seamlessly, adding more practical uses to the memecoin.
BabyDoge has already amassed a dedicated following with more than 1.9 million Twitter followers. The launch of BabyDogeSwap could further kindle enthusiasm for the protocol in the long run. As it strives to carve its unique path and differentiate itself from Shiba Inu and Shibarium, BabyDogeSwap has the potential to alter the memecoin’s current bearish trajectory. At the time of writing, BabyDoge is valued at $0.0000000014.
It is crucial to remember that investing in cryptocurrencies involves a certain level of risk, and one should always thoroughly research a coin’s potential before entering into a financial commitment. The opinions expressed in this article represent those of the author and not necessarily those of the publication. Neither the author nor the publication assumes any responsibility for personal financial loss resulting from investment decisions.
Source: Coingape
