Should I buy Baby Doge Coin after Elon Musk’s tweet? Here’s our price prediction

By: Charlie Hancox
Charlie Hancox
Alongside his passion for trading, Charlie has represented Great Britain and won national championships as a water polo player,… read more.
on Jul 2, 2021
  • Elon Musk, the CEO of Tesla, has tweeted about Baby Doge Coin
  • Find out if this means you should buy BabyDoge
  • Check out our BabyDoge price prediction to inform your investment decisions

Baby Doge (BabyDoge) is one of the most actively discussed coins in the cryptocurrency community of late. The BabyDoge price has surged by over 500% in the last 2 weeks, and now the CEO of Tesla, Elon Musk, has once again entered the crypto narrative.

Musk’s comments have previously resulted in massive gains for cryptocurrencies like Dogecoin and Bitcoin, and some commentators are expecting the same surge could be about to happen for BabyDoge coin.

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This article explains what the project is, how it works, and provides a Baby Doge Coin price forecast to help you understand where you are in the cycle right now. First things first, scroll down to find out the two best places to buy BabyDoge coin in the UK and elsewhere.

Where to buy Baby Doge ‘stock’ online

Before we list the two best platforms to buy Baby Doge Coin, we need to clear up a common misconception. BabyDoge is a cryptocurrency, not a stock.

The easiest, quickest and most affordable way to invest in BabyDoge coin is to sign up to a cryptocurrency broker, deposit funds and purchase coins. Here are our two top picks for buying, selling and trading BabyDoge coin:

CEX.IO

Cex.io offers exchange of fiat currency for Bitcoin Ethereum, Tether, and 23 other cryptocurrencies, as well as Bitcoin/Ethereum trading against the USD.

Buy BabyDoge with CEX.IO today

LonghornFX

LonghornFX is a true ECN STP broker dedicated to delivering a superior trading experience to traders no matter their level of experience. Their services are based on transparency, innovation and efficiency, ensuring an unparalleled trading experience for all.

Buy BabyDoge with LonghornFX today

Baby Doge Coin price prediction

Our BabyDoge price prediction is as follows:

In spite of broad bearish conditions across the wider cryptocurrency market, BabyDoge coin has managed to conistently outperform its altcoin peers, securing a marked 500% rise in the last 14 days.

The current BabyDoge price is $0.000000001667, and with sustained buying pressure reinforced by Elon Musk’s influence on market sentiment, the next logical resistance target is BabyDoge’s previous all-time high of $0.0000000022.

Given the momentum Baby Doge Coin has managed to establish in such a short time period, we would be far from surprised to see this price target tumble in July.

It is worth noting that our BabyDoge coin price forecast is bullish because of technical analysis and indicators rather than the fundamental value of the project. This means that volatility is very likely and it is not going to be a smooth road to price accretion. However, overall, we feel encouraged by what we have seen so far.

What is Baby Doge Coin?

Running on the Binance Smart Chain, it is a hyper-deflationary cryptocurrency and meme child of its father, Dogecoin. A 5% fee is applied to all transactions over the Baby Doge network, and the in-built smart staking system adds more BabyDoge tokens to the wallets of tokenholders everyday.

With a 5-second block time as opposed to Dogecoin’s 60 seconds, it offers faster transactions, increased scalability and enhanced ‘adoreableness’ when compared to DOGE.

There is nothing overwhelmingly innovative here, but the combination of smart branding, an intelligent use of memes, and an aggressive marketing package makes the project stand out from the swathes of other altcoins.

Should I buy BabyDoge today?

If you are looking for a high-risk/high-reward cryptocurrency to occupy a small, speculative section of your investment portfolio, Baby Doge Coin seems the ideal candidate.

By contrast, if you are looking for an asset that is more stable, secure and predictable, you may be better off considering alternative investment options.

Will Baby Doge Coin make me rich?

Meme cryptocurrencies have made some investors rich this year, but in order for this to happen, there would need to be a gargantuan price swing. While this is not impossible with BabyDoge, it isn’t especially likely.

Social media coverage of $BabyDoge

Read the Invezz crypto news to find out the latest information you need to know about BabyDoge coin and other hot cryptocurrencies.

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