Baby Dogecoin Price Soars 15% on Zero-Fee Proposal

The crypto ground can be brutal as each meme coin vies for attention.

Now, Baby DogeCoin (BABYDOGE) has emerged as a standout performer, defying market trends and captivating investors’ interest. Despite the prevailing bearish sentiment in the crypto sphere, BABYDOGE has managed a remarkable feat, surging over 15 percent in the past 24 hours. This surge, amidst market downturns, has reignited interest in this canine-themed token that once rode high on Elon Musk’s tweets.

What Spiked the ‘Baby’?

The sudden spike in Baby DogeCoin was largely influenced by the overwhelming support of the new DAO proposal for 0 percent fees to transfer, buy, and sell on the BNB Chain. Remarkably, the DAO proposal received over 98.89 percent community support. As a result, BABYDOGE can now compete with other top-tier meme coins like Floki (FLOKI) and Solana-based projects in trading volume. 

Over the past years, buying, selling, or transferring BABYDOGE has cost holders up to 10 percent tax, making the meme coin unattractive to small meme coin traders and whale traders.

“Lowering fees to 0% may make Baby Doge more accessible to a wider user base. A 0% fee may encourage more frequent usage and transactions. The proposal noted that a 0% fee structure positions Baby Doge as a more attractive option than other memes with higher transaction costs, potentially drawing in new user adoption and use cases,” the proposal noted. 

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Embracing Growth

The overwhelming support for the DAO proposal signals not only the end of BABYDOGE’s monthly burns but also unlocks a significant potential. With $100 million worth of BABYDOGE tokens now freed, the project’s team is ready to expand and pursue ambitious initiatives aimed at pushing BABYDOGE to greater heights.

Beyond community sentiment and governance, BABYDOGE’s price trajectory tells a compelling story. After being trapped in a macro triangular pattern for over two years, the meme coin finally broke free, signaling a bullish resurgence. Breaking through a falling logarithmic trend, BABYDOGE found renewed vigor, with the weekly Relative Strength Index (RSI) surging past the pivotal 50 level for the first time in recent memory.

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With zero fees and a passionate community, could Baby DogeCoin be your next big win?