BabyDoge Flips Ethereum To Become 'Most Traded Token' Among Binance Whales

BabyDoge Coin BABYDOGE/USD extended a 115% two-week-long rally as whales on Binance Smart Chain (BSC) acquired large amounts of the meme coin.

What Happened: According to blockchain data tracker WhaleStats, on Jan. 10, BabyDoge surpassed Ethereum ETH/USD to become the most traded token among the 1000 richest BSC wallets.

JUST IN: #BabyDoge @babydogecoin had flipped $ETH to be most traded token among the top 1000 BSC wallets

#BabyDoge price ups 16.88% in the past 24hrs with a current price of $0.0000000037

Will #BabyDoge follow in the footstep of #SHIB? 

Source: https://t.co/tYUaVqEZvV pic.twitter.com/9Xp9h5cmEZ

— WhaleStats - the top 1000 BSC richlist (@WhaleStatsBSC) January 10, 2022

Last week, the Shiba Inu-inspired cryptocurrency managed to achieve another important milestone that was celebrated by its community. The number of BabyDoge holders hit a record 1.15 million, surpassing the number of Shiba Inu SHIB/USD holders.

Why It Matters: BabyDoge was first launched in May 2021 as a token built on the Binance Smart Chain.

Like many meme coins in the crypto space, the token saw its price appreciate significantly after a tweet from Tesla Inc TSLA CEO Elon Musk in July 2021.

Baby Doge, doo, doo, doo, doo, doo,
Baby Doge, doo, doo, doo, doo, doo,
Baby Doge, doo, doo, doo, doo, doo,
Baby Doge

— Elon Musk (@elonmusk) July 1, 2021

After Musk’s tweet, BabyDoge surged nearly 450% to an all-time high of $0.000000005890 over the span of one week.

The meme coin is currently trading at a price of $0.000000003856 which is 34% below its all-time high, but is still up 3980% from its lowest point in June 2021.

Conversely, Dogecoin DOGE/USD is down 80% from its peak price in 2021 and just 53% of holders are still making money on their initial investment.

Related: 2 Tales Of '#BabyDogeArmy' And '#CryptoCrash:' Why This Dogecoin-Inspired Crypto Is On A Tear Today