Have you ever heard of “baby coins”? They were recently introduced to the crypto market and some are already valuing above 1,000%.
What are baby coins?
The cryptocurrency market has gained a new type of digital currency meme. These are the so-called baby coins, “baby” versions of cryptocurrencies that have invaded the market recently. Some have even registered valuations above 1,000%.
Currently, there are at least 6 baby coins, mostly released in June. They are: Baby Dogecoin (BABY DOGE), BabyBNB (BABYBNB), BabyFloki (BABYFLOKI), BABY Token (BABY), Baby Kishy (BABYKISHU) and Baby Swap (BABY).
Baby coins that valued over 1000%
BABYDOGE
Launched on June 1st, BABYDOGE, as the name suggests, is inspired by Dogecoin (DOGE) and has already gone up almost 1,650%.
Initially, the baby coin traded at $0.000000000099. On the same day, the coin was worth $0.000000002109 after a tweet from Elon Musk.
Currently, the baby coin is traded at $0.000000002852 per token and the approximate amount of current assets is 50 billion BABYDOGE.
Baby Doge, doo, doo, doo, doo, doo
Minutes after BABYDOGE was launched, Elon Musk, CEO of Tesla and SpaceX, used his Twitter profile to celebrate the launch of baby coin.
The “Dogefather” published a song they called Baby Doge, in reference to the famous children’s video “Baby Shark”.
Baby Doge, doo, doo, doo, doo, doo,
Baby Doge, doo, doo, doo, doo, doo,
Baby Doge, doo, doo, doo, doo, doo,
Baby Doge— Elon Musk (@elonmusk) July 1, 2021
BABYDOGE has soared 230% 24 hours after Musk’s tweet. In addition to the rise in cryptocurrency, the term “Baby Doge” ended up on Twitter’s Trending Topics in the United States, according to the cryptocurrency page on Twitter.
#BabyDoge pic.twitter.com/8A87xoFuY4
— Baby Doge Coin (@BabyDogeCoin) July 1, 2021
BABYBNB
Another baby coin that has gained prominence in terms of valuation is BABYBNB.
Crypto experts suggest that the token is a baby version of Binance Coin (BNB), as the project description says: “Our philosophy is to have fun while trying to improve the world we live in. BabyBNB will provide unique uses that we live in. our conceptual space is yet to be seen”.
The cryptocurrency Twitter page confirms such speculation, as its description says “BabyBNB: a robust project with deflationary, yield and buyback features! BabyBNB honours BNB; it’s still a baby but in time it will be a true competitor to ETH!”.
Launched on June 29, BABYBNB cost $0.000000002384. 4 days after its release, the coin appreciated by 1,190%, reaching its maximum price of $0.000000030864.
Currently, the baby coin trades at $0.000000007202 per token. According to CoinMarketCap, there is still no data on the amount of current assets or on the market capitalization of the cryptocurrency.
BABY Token and BabyFlocky: Despite the appreciation, these two baby coins have retreated
BABY Token
Baby Token is considered a “veteran” among baby coins. That’s because the cryptocurrency was launched in December 2020.
The criptocurrency’s starting price jumped from $0.0082 to $0.022 earlier this year. However, despite the accumulated high of 168%, the cryptocurrency registered a loss of almost 47% in the last month.
Currently, the price of BABY is $0.01144 per token.
BabyFloky
The market was not as generous to BABYFloky as in the cases of previous baby coins.
The cryptocurrency was launched on June 27, with an initial cost of $0.00050524. By the end of June, the currency had appreciated “only” 78%, reaching the value of $0.00090388.
Recently, however, the baby coin is in decline and has already retreated more than 20%. Its current price is $0.00021818.
BABY Swap e Baby Kishu
BABY Swap and Baby Kishu are two baby coins not as lucky as their “sisters” and recorded significant losses.
Launched on June 11th, BabySwap (BABY) has dropped from $0.38 to $0.088. The price of digital currency registered a decrease of more than 76%. Currently the baby coin is worth 0.081 and there are already more than 38 billion BABY in circulation.
Baby Kishu is another baby coin that also fell. On June 26, when it became available for consultation on CoinGecko, BABYKISHU cost $0.000000001139. Today, the cryptocurrency is trading at $0.0000000000254. In other words, it devalued almost 80% in the period.
Should I invest in baby coins?
Although some baby coins are up by more than 1000%, experts warn that, like other cryptocurrencies, these are part of a highly volatile market. Therefore, the growing popularity of these tokens should not influence investors’ decision.
If a crypto sponsor wants to invest in baby coins, he or she should closely examine their philosophy, designs, and growth in relation to market share.
