05.07.202123:06 Forex Analysis & Reviews: Elon Musk has a new crypto hobby: Baby Doge - what is this crypto asset and what are his prospects?

It seems that Elon Musk has a new hobby - this is a new crypto asset, which is actively promoted by the Tech King himself. The Baby Doge coin is now on everyone's lips, it is trending in social networks, thanks to Ilon for everything. The hashtag #babydoge has collected more than 26,000 tweets, after the odious billionaire turned his eyes to the digital asset, using lines from the song Baby Shark on his Twitter.

It is not the first time that Musk has been a catalyst for both the growth and sharp decline of the cryptocurrency, so many investors and institutions hope that tweets and permanent attention will lead to the growth of the digital asset. Already today, the value of the digital asset has increased by more than 80%, and again the Elon Musk effect is in business.

Baby Doge is only about a month old, and this digital asset is already attracting too much attention to itself after the activity of Elon Musk and a galaxy of approving tweets from crypto enthusiasts on Twitter. Unlike its older brother Dogecoin, Baby Doge is deflationary in nature, and a lower supply/high demand dynamics can also lead to a price jump even for an interim period. A priori, the digital asset Baby Doge should become more deflationary and faster, it also carries an interesting and transparent betting system that allows customers to earn coins with their own hands.This should stimulate both existing users and new ones, due to the fact that users receive a five percent cashback from each transaction that occurs in the Baby Doge network. However, many crypto enthusiasts are divided in their opinions. Some people are of the opinion that this is another wiring and the prospects for the asset are zero, while others are very interested in this project and believe that the baby version has a great future and it can easily grow to the value of Dogecoin. Since July 1, Baby Doge has been listed on the Lbank exchange, and trading is already underway on the BABYDOGE/USDT trading pair.