BabyDoge Outperforms Dogecoin, Shiba Inu With 4% Jump Even As Elon Musk's X Induced Rally Cools Down

BabyDoge BABYDOGE/USD, a meme cryptocurrency, has witnessed a 4% increase in the last 24 hours, outperforming popular rivals Dogecoin DOGE/USD and Shiba Inu SHIB/USD.

What Happened: At the time of reporting, BabyDoge was trading at $0.000000001166, while DOGE and SHIB experienced a slight downturn of 0.50% and 1.95%, respectively.

The spike in BabyDoge’s value can be attributed to the launch of "a secret AI" project by the developers of the meme coin. The revelation date has been set for September 4.

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Why It Matters: The meme coin market was rallying on Tuesday supported by news that X had received approval for a license in Rhode Island on August 28.

This development resonated strongly with supporters of Dogecoin, as they believe that Elon Musk will eventually integrate cryptocurrency payments using Dogecoin on his widely used X app.  Despite a momentary surge of 4.34% on Tuesday, Dogecoin experienced a subsequent decline.

Photo Courtesy: Maurice NORBERT On Shutterstock.com

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