Baby Doge (BABYDOGE) Market Cap Surges Above $300 Million as Bitcoin Reclaims $100k

The meme coin market is experiencing an upward swing (a rise to no less than $75 billion), which has been spurred by Bitcoin's recent ascent above $100k.

The meme coin market has seen a recent surge in interest and activity, which can be attributed to Bitcoin’s strong performance as it breached the $100k mark.

Among the meme coins that have been heating up the market is Baby Doge, which is known for its charity efforts and support from Elon Musk.

The Binance Smart Chain token has managed to defend the crucial $0.0000000016 support level, and it has now printed three green candles in a row.

On Monday, it experienced an 8% rally, on Tuesday it rose by 5%, and on Wednesday it surged by 12%.

At the time of writing, Baby Doge is trading at $0.0001921 with a market cap of $320 million—up nearly 66% from its April 14th bottom.

The continued green candles have people speculating that more upward action may be coming, especially if the bullish market outlook remains intact. Will this be the case? And will the meme coin outperform Shiba Inu?

What is Baby Doge?

Inspired by the success of Dogecoin and Shiba Inu, Baby Doge hit the meme coin scene in 2021. The Binance Smart Chain meme coin initially started as a joke, but eventually found its purpose—to spread awareness of animal welfare and pet adoption.

Among the best-performing meme coins of 2021, Baby Doge is renowned for its charity program, designed to find loving shelters for dogs and animals in general. A few years ago, it partnered with Best Friends to build the first-of-its-kind animal facility in Northwest Arkansas.

More so, according to CoinmarketCap, Baby Doge is the only meme with an official world record for helping save dogs, highlighting its commitment to animal welfare and dog rescue.

After its launch in 2021, Baby Doge received the backing of Elon Musk, which ultimately pushed it into the limelight. The hashtag “babydoge” trended for weeks on X after Musk’s first tweet about it, exposing it to a flurry of degen investors.

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Meanwhile, the meme coin project has created its own decentralized exchange—BabyDogeSwap—featuring several products such as AI NFT generator, farming as a service, burn portal, swap, token locker, NFT marketplace, and many more.

A combination of these factors has made BABYDOGE a high-potential project, and it has continued to generate traction in the market.

BABYDOGE Price Analysis

Things turned bullish in the crypto space as soon as Bitcoin reclaimed the $100,000 level. The Fear and Greed Index pivoted slightly from neutral to greed, the meme coin market cap surged above $70 billion, and almost all tokens started trading in the green.

BABYDOGE is very much part of the bullish party, surging nearly 53% over the past week—with most of the increase happening within the last 72 hours.

The token currently oscillates between $0.000000001921 and $$0.000000001928, and its market cap is just around $320 million.

On the technical front, BABYDOGE is currently trading well within the confines of an ascending parallel, which popular analysts like Meme Whale believe could spark between 2x and 3x rally soon.

Baby Doge Price Prediction — Can BABYDOGE Outperform SHIB?

With BABYDOGE blowing up on the price charts—taking the most advantage of the Bitcoin-led bull run to reclaim its previous highs—many are wondering if it could eventually outperform Shiba Inu in the long run.

There’s no doubt that SHIB is far ahead, boasting over a $9 billion market cap at press time—but it hasn’t really kept pace with the rest of the market like BABYDOGE has.

While BABYDOGE has rallied more than 65% over the past 30 days—climbing from a low of $0.0000000012 to $0.0000000019—SHIB has only managed a rise slightly above 20%, surging from $0.00001310 to $0.00001576.

Assuming BABYDOGE sustains its growth trajectory, it could potentially become a multi-billion dollar project billion market cap threshold in the coming years—securing a spot on the global top 10 meme coin chart. However, achieving this feat will require multiple bull cycles as well as several Tier-1 CEX listings.

BTC Bull — Newer Meme Coin