What is baby Doge Crypto?
Baby Doge is the new favourite of crypto enthusiast and Tesla CEO Elon Musk. What is it? A spinoff of already existing meme cryptocurrency Dogecoin. Yepp, the joke has gone too far. Cryptocurrencies have truly exploded in 2021 and alternative tokens or alt coins are dominating the scene. India TodayWhat is Baby Doge? Meet Elon Musk’s new favourite cryptocurrency
02 July, 2021 - 10:44am
By Will Feuer
July 1, 2021 | 7:30am | Updated July 1, 2021 | 8:16am
Elon Musk heaped praise on China’s economic development late Wednesday night as the Communist Party celebrated its 100th anniversary in power.
Musk lauded the country’s development in response to a tweet from state-media outlet Xinhua News that included a quote from Chinese President and Communist Party Chairman Xi Jinping’s speech celebrating the ruling party’s centenary.
“China has realized the first centenary goal — building a moderately prosperous society in all respects,” the state-run outlet quoted Xi as saying.
The quote added that China has “brought about a historic resolution to the problem of absolute poverty in China” and that the goal for the next 100 years is to build “China into a great modern socialist country in all respects.”
The economic prosperity that China has achieved is truly amazing, especially in infrastructure! I encourage people to visit and see for themselves.
“The economic prosperity that China has achieved is truly amazing, especially in infrastructure! I encourage people to visit and see for themselves,” Musk tweeted in response.
The Tesla and SpaceX CEO also posted the same message with a Chinese translation on Weibo, China’s Twitter-like platform. Musk has nearly 1.8 million followers on the social media site.
It’s not the first time the world’s second-richest man has sung China’s praises. In March, Musk made similar remarks to state-run China Central Television, saying that China would eventually become Tesla’s biggest market in terms of both the number of customers and vehicles produced there.
Musk’s latest glowing remarks come as Tesla’s critical push into the Chinese market is hampered by local competition and scrutiny from regulators in the country.
Last weekend, nearly all of the Tesla cars in China were recalled by regulators over concerns about the cruise control system.
The recall came months after reports that Beijing has restricted military staff and employees of certain state-owned companies from using Tesla’s vehicles over concerns about the cars’ cameras presenting a security threat.
The electric car-maker also faced backlash earlier this year from Chinese state media after it reprimanded a protester in China for alleging that the brakes don’t work in Tesla’s China-made cars.
Tesla ultimately apologized for its handling of the customer complaint.
China accounted for about a fifth of the Silicon Valley company’s sales last year, and that share is expected to rise in 2021 as Tesla continues to ramp up production at the Shanghai “Gigafactory” that produces its Model 3 sedan and Model Y SUV.
01 July, 2021 - 11:21pm
These are the cryptocurrencies that saw high interest on social media early Friday.
Baby Doge Coin (CRYPTO: BABYDOGE): The self-proclaimed son of Dogecoin (CRYPTO: DOGE) is a new entrant to the Dog-themed coin universe.
BABYDOGE claims to be hyper-deflationary and says it has an integrated smart staking system built in which rewards its holders.
See Also: How To Buy Baby Doge Coin (BABYDOGE)
On Thursday, a tweet by Tesla Inc (NASDAQ:TSLA) CEO Elon Musk which seemed to be a play on a popular children’s song made mention of “Baby Doge.”
— Elon Musk (@elonmusk) July 1, 2021
BABYDOGE took the top spot on CoinMarketCap’s list of trending coins at press time. The cryptocurrency soared 93.99% to under $0.00000001 over 24 hours. Over a week, the coin has gained 1.93%.
Shiba Inu (CRYPTO: SHIB): This cryptocurrency claims to be a “Dogecoin killer” and has grown to a market cap of $3.28 billion.
A key difference between the social media attention received by SHIB and DOGE is that most of the latter’s base is in China and on Chinese social media, while DOGE’s fanbase is mostly found on Reddit and Twitter Inc’s (NASDAQ:TWTR) platform.
On Thursday, SHIB was included in the list of the 10 most mentioned cryptocurrencies on Twitter with 212 tweets. The top dog Thursday was DOGE with 997 tweets, as per Cointrendz.
SHIB traded 4.12% lower at $0.000008323 over 24 hours at press time. The coin has spiked 14.93% for the week.
Helium (CRYPTO: HNT): The coin for the decentralized network for Internet of Things (IoT) devices was among the most tweeted about cryptocurrencies on Thursday.
On Thursday, Helium announced the beta release of Console 2.0, an update whose biggest feature “Flows” gives a visual-centric view of key elements and allows users to understand relationships among devices, functions and integrations, as per a project blog.
HNT traded 0.77% higher at $12.52 at press time over 24-hours. The coin rose 2.2% for the week.
Read Next: What's Going On With Dogecoin Today?
© 2021 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Read the Latest Sports Betting News, Analysis, and Odds on Benzinga!
$27 of crypto when you complete education
$25 in BTC when you deposit $100
4 free stocks when you depost $100
© 2021 Benzinga | All Rights Reserved