The price of BabyDoge responded with a massive jump in the last 24 hours following a major announcement from the BabyDoge team on its burn portal, scheduled to go live on Monday, Feb. 13.
Our burn portal goes live tomorrow!— BabyDogeSwap.com LIVE (@BabyDogeCoin) February 12, 2023
We will burn 5 tokens for each token burned through the community burn portal through April 1st ! 🔥 pic.twitter.com/fB5grC5uvH
The team confirmed the upcoming release of the burn portal and stated it will burn five tokens for each token burned through the community burn portal until April 1.
As reported earlier, the burn portal aims to put burning power in the hands of the community. Also, it would give users lower fees to purchase BabyDoge. Then, one major aim is to reduce the supply of BabyDoge.
Baby Doge Coin burning is growing at a progressive rate, so the burn portal might contribute positively when launched.
A total of 3,729,100,847,991 BABYDOGE tokens worth $16,300 have been burned from the total supply in the last hour, according to the Baby Doge Coin tracker, Burn BabyDoge.
BabyDoge price reacts
The price of Baby Doge Coin responded positively to the announcement of the burn portal, as it jumped to a high of $0.00000000457 on Feb. 12.
Baby Doge Coin resolved a bullish pennant on Feb. 12, which escalated its price. The appearance of a golden cross on its daily chart also adds to its positive technicals.
The current price of one BABYDOGE coin is $0.000000004293, a positive 23% change in the last 24 hours. The token is up 47% in the week.
According to WhaleStats, BabyDoge ranks as the top-purchased token for the 500 biggest BNB whales it tracks. However, the general market trend might be watched for confirmation of the continuation of Baby Doge Coin's massive rally.