The official Twitter handle of meme token BabyDoge has announced that on Dec. 1, a whopping quadrillion of these tokens were burned, as was announced before.
Quadrillion coins get burned for a start
This burn consisted of two parts – a burn of BabyDoge worth $1,100,000 and a buyback of BabyDoge coins with 16 BNB and then another burn. This burn also includes all trading fees from swaps.
These quadrillion tokens were destroyed by the development team of the coin after the vote that suggested it took part a short while ago and the burn, along with a buyback of BabyDoge, was approved by the meme coin's vast community.
This is just the first burn in a series of planned ones for BabyDoge. Some in the community reckon that once a really big stash of BabyDoge coins is removed, Binance may start considering listing this meme coin, which may become a big price driver for it.
Burn is here!— BabyDogeSwap.com LIVE (@BabyDogeCoin) December 2, 2022
1 quadrillion burned from token volume worth estimated $1.2mhttps://t.co/PKG0yWZxpD
16 BNB buy back and burn from BabyDogeSwaphttps://t.co/zNq2KJ3WLU pic.twitter.com/aMqyO2h2a6
BabyDoge price remains unaffected
So far, as per a recent tweet by @babydogeburn_ account focused on tracking BabyDoge burns and on noting the emergence of new wallets with this token, a total of 199,466,580,846,242,464 BabyDoge have been removed from the circulating supply of 420,000,000,000,000,000 coins. These figures come from a tweet published on Nov. 29.
The price of the aforementioned meme coin has not quite responded to the burn yet. As per the figures provided by CoinMarketCap, Baby Doge Coin is trading at $0.00000000114, showing a drop by slightly over 2%.