Baby Doge Coin (CRYPTO: BABYDOGE) traded over 22% higher on Thursday night bucking the downward trend seen in the wider cryptocurrency markets.
What Happened: BABYDOGE soared 22.16% at 0.000000003176 over 24 hours at press time. The coin is up 80.37% for the week.
See Also: How To Buy Baby Doge Coin (BABYDOGE)
Against the two largest cryptocurrencies, Bitcoin (CRYPTO: BTC) and Ethereum (CRYPTO: ETH), BABYDOGE rose 21.95% and 31.19% respectively.
BABYDOGE was among the top cryptocurrencies trending on CoinMarketCap at press time.
Why It Matters: BABYDOGE’s weekly returns have greatly outpaced those of its supposed “father” Dogecoin (CRYPTO: DOGE), which has declined 18.73% over the last seven days. DOGE traded 9.33% lower at $0.20 at press time over 24 hours.
Baby Doge Coin suffered heavy losses Wednesday night despite the revelation that the meme coin would feature on a NASCAR race car.
Baby Doge Coin redistributes fees it imposes on sellers among the holders, which is akin to an approach taken by some other cryptocurrencies such as Safemoon (CRYPTO: SAFEMOON).
Read Next: What’s Up With KuCoin Token (KCS) Today?
© 2021 Benzinga.com. Benzinga does not provide investment advice. All rights