BabyDoge Reaches 1.2 Million Holders and Beats Shiba Inu

BabyDoge

Community hopes BabyDoge will follow Shiba Inu’s paw prints

One of the first and biggest Shiba Inu competitors – BabyDoge meme token – has surpassed its “rival” in the number of holders after almost a 100% price spike on the market.

According to channel data provided by WhaleStats, the number of BabyDoge holders has reached the local peak of 1.12 million holders, while the number of SHIB holders still remains at 1.1 million investors.

Holder count foundation

The number of holders is an efficient metric that allows traders to determine whether the asset is growing fundamentally or not. Members from both the Shiba Inu and Baby Doge communities suggest that the strong growth of both coins is based on the asset’s low price and ability to show strong gains during each rally.

Shiba Inu gathered much of their current fan base in the mind-blowing 1000% rally that took place in October 2021. The spike in cardholders on BabyDoge came with the last 100% pump that took place on the market Jan. 2.

The sudden price increase of the asset was followed by the swift volume increase the day before, during the transition between 2021 and 2022.

Currently, whales hold over 45 trillion BabyDoge, which is a relatively small number compared to holdings in smaller wallets. Compared to Shiba Inu, BabyDoge indeed follows the steps of its predecessor, when smaller wallets fueled the gathering while the whales later came to the party.

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