Another breathtaking amount of meme coins has been sent to a dead wallet within an hour in a hope of pushing the price up in the future
The BabyDoge community has announced that nearly 3 quadrillion Baby Doge coins from the circulating supply of the meme token have been burned as part of the plan to wipe out 50 quadrillion BabyDoge.
2.8 quadrillion coins gone
BabyDoge tracker account @babydogeburn_ has tweeted that a staggering amount of 2,880,434,321,993 BabyDoge has been sent to an unspendable wallet and out of circulation within merely one hour.
Despite the impressive figure, this meme token sum is only worth around $4,056, while the coin changes hands at $0.000000001408. In the past 24 hours, it has demonstrated a 10% increase, according to data provided by CoinMarketCap.
The initial supply of BabyDoge totalled 420 quadrillion but after recent burns it has been reduced twice down to about 232 quadrillion canine coins, inspired by Dogecoin and Shiba Inu dog breed.
50 quadrillion burning voted for
On June 3, U.Today reported that the BabyDoge community voted for accelerated token burns and decided to reduce the current supply by an additional 50 quadrillion. However, this decision was made regarding tokens circulating on Ethereum and there is no data indicating if and how many BabyDoge would be burned on the original Binance Smart Chain network.
During the first two days of this month, they burned 6 quadrillion tokens, later several other large burns followed.