What’s Going On With Baby Doge Coin Today

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.

See Also: Dogecoin Is Now More Popular Than Bitcoin Among US eToro Users

At the beginning of the month, a tweet from Tesla Inc (NASDAQ:TSLA) CEO Elon Musk sent BABYDOGE soaring.

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?

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