XRP, Dogecoin, Cardano Price Analysis: 4 July

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AMBCrypto News 04 July, 2021 - 01:35pm 14 views

How much is Dogecoin?

The live Dogecoin price today is $0.242186 USD with a 24-hour trading volume of $1,066,032,837 USD. coinmarketcap.comDogecoin price today, DOGE live marketcap, chart, and info

Release the Doge! pic.twitter.com/9bXCWQLIhu

— Elon Musk (@elonmusk) July 1, 2021

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7 Things to Know Before You Buy Baby Doge Coin

The Motley Fool 05 July, 2021 - 05:29am

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by Lyle Daly | July 3, 2021

Things move quickly in the world of cryptocurrency. It wasn't long ago that Dogecoin was the hottest crypto of 2021. Now, it's practically old news, and there's a Baby Doge Coin getting loads of hype.

Baby Doge Coin had big initial success, as its price rose by over 1,000% in about two weeks. But by the next day, it had lost nearly half that value.

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True to the name, this crypto is still a baby right now. It was created on June 1, 2021. The earliest price on record wasn't until June 9, when it cost $0.000000000175. That quickly shot up thanks to social media and influencer marketing, but then it came back down.

Buying such a young cryptocurrency is a risky proposition. Baby Doge Coin doesn't have much of a track record, and the reality is that most cryptocurrencies don't make it.

Baby Doge Coin's total supply was 420 quadrillion tokens, and the team behind it has manually burned (destroyed) over 125 quadrillion so far. Manual burns mean that the Baby Doge Coin team has full control of when and how many tokens get burned.

Large numbers of coins priced at a fraction of a cent are common with new cryptocurrencies. Baby Doge Coin is an extreme example, though.

On every Baby Doge Coin transaction, the seller pays 10%. Here's where that goes:

The 10% fee is an incentive to hold on to Baby Doge Coin. If you sell yours, you get charged 10%. If you keep it, you get rewarded with a portion of the fee anytime someone else sells. Baby Doge Coin didn't invent this idea. Safemoon, which launched in March, has the same type of fee.

One of the goals listed in Baby Doge Coin's whitepaper is rescuing dogs in need. It also says that the team has a charity wallet with 2.2% of the total supply of Baby Doge Coin. Since 5% of the transaction fee with this crypto is redistributed to existing holders, the charity wallet receives 2.2% of that.

The charity wallet is used to support Baby Doge Coin's charity partners. On June 24, the crypto's Twitter account announced a $75,000 donation to PawsWithCause, a nonprofit that uses community paint days to bring more attention to animals in local shelters.

For anyone who wants to get Baby Doge Coin, PancakeSwap is the recommended platform. PancakeSwap is one of the bigger decentralized exchanges (sites where users contribute and trade crypto).

To use PancakeSwap, you need to connect a crypto wallet. Then you can trade another crypto, such as Binance Coin, for Baby Doge Coin. There's a bit of a learning curve, but it's not too hard once you get the hang of it.

It's worth noting that Baby Doge Coin isn't listed on any of the best cryptocurrency exchanges, however. Getting listed is a longshot, given that this is a memecoin with a low trading volume.

Baby Doge Coin has a six-phase roadmap. The first few phases are normal enough, with goals such as reaching 25,000 holders and completing a website redesign.

The final phase is where things get much more ambitious. It includes the community carving a Baby Doge into a mountain at a $100 billion market cap and the creation of a Baby Doge religion at a $500 billion market cap.

Only a handful of cryptocurrencies have ever passed a $100 billion market cap, and only Bitcoin has passed $500 billion. Odds are that we won't ever see Mount Baby Doge or the church of the Baby Doge.

Baby Doge Coin started strong, but it's hard to see any value in it as a long-term investment. Memecoins like this one -- with no notable future plans or advantages over the competition -- are a dime a dozen.

They rely on marketing to build hype and push up the price. The team behind them and the earliest investors make money, while everyone who gets in too late loses.

Anything can happen with crypto. There's always the slim chance that Baby Doge Coin has another hot streak and shatters its all-time high. But it's more likely that people forget about it and move on to the next memecoin with a funny name.

To help you get started, our independent experts have sifted through the options to bring you some of our best cryptocurrency exchanges for 2021. Check out the list here and get started on your crypto journey, today.

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If Dogecoin is no longer Musk’s puppet, what is it?

AMBCrypto News 05 July, 2021 - 05:29am

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Dogecoin – the leader of the meme-coin pack – has been in the middle of a deadlock over the past few days. The beleaguered sixth-largest crypto’s price was oscillating around the $0.2-range at press time, with the usual euphoria and excitement in the DOGE market seemingly dwindling. 

At the time of writing, DOGE was trading at $0.2405, after registering a 3% drop over the past week. However, the meme-coin’s price has risen by 10,472.48% over the past year. Ergo, keeping DOGE’s past price actions in mind, the 3% drop can seem trivial.

However, looking at the overall picture, certain questions do arise. Has DOGE lost its charm and appeal? Is its bubble set to burst anytime soon? Has the community given up on the coin already? Even though the emerging trend does seem to be that, the same cannot be said with any absolute surety.

The mutual interdependence of Dogecoin’s price and social volumes has been dwindling since mid-May. In fact, the latter has remained mostly stagnant over the past few days. Additionally, when compared to the month of May, Dogecoin’s social dominance has also drastically shrunk.

All in all, social media has failed to provide the “joke-coin” any relief. Dogecoin also withdrew itself from market-centric developments and prolonged its monotonous mood. The same became even more prominent after Coinbase’s latest listing. In what was an unlikely scenario, this development failed to provide DOGE any relief.

Additionally, at the time of writing, IntoTheBlock’s data underlined that the market sentiment towards DOGE was “mostly bearish.” Unsurprisingly, the average transaction size also showed a massive drop from $1,684,809.74 towards the beginning of June to $90,497.08 at press time. 

What’s more, DOGE’s average balance also dropped from the $23k range in May to the $7k range. Its trade volumes did not reflect any impressive figures either. In spite of this humdrum and dull environment, however, brokerage firm Robinhood recently announced that 34% of its total crypto revenue in Q1 came from trading Dogecoin.

Well, while Dogecoin may have been a good Samaritan for its investors, of late, it hasn’t been doing too well. With Q1 already over, are DOGE’s high-performance days a thing of the past too?

Now, one analyst has claimed that Dogecoin has already entered the fourth stage of its bubble and the odds of a “total loss of capital” remain fairly high. In fact, he also warned investors to remain cautious and opined, 

“Expect Dogecoin to fall towards $0 this year and die a slow death.”

Arguably, no recent development has provided DOGE any reassurance of an uptrend, not even Elon “the catalyst’s” tweets. The joke-coin that used to love dancing to Musk’s music in the short run has ceased to do that too. Perhaps DOGE is not anyone’s puppet anymore!

Source: Coinstats

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With a keen eye on the Indian economic ecosystem, Lavina Daryanani's writing predominantly revolves around crypto-happenings in the Asian markets. She has a strong background in journalism and a personal inclination towards business and financial reporting

Disclaimer: AMBCrypto's content is meant to be informational in nature and should not be interpreted as investment advice. Trading, buying or selling cryptocurrencies should be considered a high-risk investment and every reader is advised to do their own research before making any decisions.

Dogecoin slumps despite Elon Musk’s tweet, Robinhood’s high dependence

Nairametrics 05 July, 2021 - 05:29am

A dark cloud seems to be hovering around Dogecoin despite receiving another endorsement from Tesla CEO, Elon Musk and Robinhood’s disclosure of high DOGE transactions.

At the time of writing this report, the meme coin traded at $0.241627 USD with a daily trading volume of about a billion dollars. Dogecoin is down by about 4% for the day.

The sixth most valuable crypto has a market value of about $31.2 billion with a circulating supply of over 130 billion meme coins.

Some days ago, Elon Musk, the world’s second-richest man and arguably the most influential voice in the crypto-verse posted a tweet captioned, “Release the Doge!”. However, that wasn’t able to keep short-sellers away, with the coin trading below its critical support level of $0.25

Bearish sentiments remain strong despite recent reports from Robinhood, a leading American trading app, revealing that about 34% of sales from its digital asset transactions came from trading activities with DOGE in Q1. In the previous quarter, the share was just 4% percent.

The company also disclosed it could be hurt “if the markets for dogecoin deteriorate or if the price of dogecoin declines, including as a result of factors such as negative perceptions of dogecoin or the increased availability of dogecoin on other cryptocurrency trading platforms.”

Still, market commentators argue that Musk holds a strong influence in the crypto market with his enormous interest in Dogecoin, pushing the altcoin to a record high of about 0.7376 some week ago. However, dogecoin has forfeited a large part of its profits, no thanks to record profit-taking and fear of stiff regulation.

Dogecoin is a type of digital asset that is decentralized, thus permitting peer-to-peer digital transactions. This means you can send money online with much ease. It is usually referred to as “the internet currency.”

It is different from BTC’s proof-of-work protocol in many ways, one of which is the scrypt technology. The fast-growing altcoin also has a block period of 1 minute, and the total supply is unlimited, meaning that there is no limit to the amount of Dogecoin that can be mined.

Olumide Adesina is a France-born Nigerian. He is a Certified Investment Trader, with more than 15 years of working expertise in Investment trading. Message Olumide on Twitter @tokunboadesina. He is a Member of the Chartered Financial Analyst Society.

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What is Baby Doge?

The Sun 05 July, 2021 - 04:58am

News Corp is a network of leading companies in the worlds of diversified media, news, education, and information services.

CRYPTOCURRENCY investors can now put their cash in a Dogecoin spin-off called Baby Doge.

The latest cryptocurrency recently attracted the attention of Tesla founder Elon Musk. We explain what you need to know.

Before you invest money, if anything at all, keep in mind that cryptocurrencies are volatile and you may lose all the cash you put in.

Investing is not a guaranteed way to make money, and you should never put cash into anything you don't understand.

Newer cryptocurrencies are also riskier than those that have been around for a while, such as Bitcoin, and make you more open to scams.

Plus, there's scant regulation for cryptocurrency firms, so you'll struggle to get help if and when things go wrong.

BELOW we round up five risks of investing in cryptocurrencies.

Baby Doge features a mascot that looks like a puppy version of its "father" - the Shiba Inu dog that is the face of Dogecoin.

The latter was first launched as a joke in 2013, but has since rocketed in value.

Baby Doge was started by fans and members of the Dogecoin community, but there's nothing connecting the two.

The latest crypto, which launched on June 1 this year, is a "deflationary coin" set to become more scarce over time, according to its website.

The coin is one of many cryptocurrencies that incentivize holding on to it by charging a transaction fee.

Investors who sell the crypto will be hit with a 10% fee, of which 5% is redistributed to existing holders of Baby Doge.

Baby Doge is currently worth less than $0.00000001, according to CoinMarketCap, which doesn't specify it further.

However, it's up by almost 70% over the past 24 hours.

In comparison, the crypto rose in value to $0.0000000188 yesterday, July 4.

Baby Doge has benefited from attention by Elon Musk, who referenced it using a play on the "Baby Shark" song on Twitter a few days ago.

The founder of Tesla has become a mega influencer with almost 58million followers.

He often tweets about cryptocurrencies, causing both value plunges and increases.

Myron Jobson, personal finance campaigner of Interactive Investor, told The Sun: "Baby Doge is piggybacking on Dogecoin's popularity to drum up interest.

"The fact that there’s a 10% fee anytime an investor trades the coin, and receives a portion of the fee everyone else pays when selling incentivises people to hang on to the cryptocurrency that essentially has an intrinsic value of zero.

"Baby Doge is still in its infancy and its roadmap appears audacious at best and should be taken with a huge fist of salt.

"For most investors, sticking to mainstream investments is the best strategy."

It came after he named himself the "Dogefather" earlier this year.

Meanwhile, investors were recently warned about cryptocurrency trading platforms Bitcoin Rush and Bitcoin Storm.

Our journalists strive for accuracy but on occasion we make mistakes. For further details of our complaints policy and to make a complaint please click this link: thesun.co.uk/editorial-complaints/

Baby Dogecoin Price Prediction 2021: Will Baby Dogecoin go to the moon, worth investing?

Republic World 05 July, 2021 - 04:53am

Musk tweeted by using the lyrics of a viral baby shark song from the previous year and refer that The lyrics to Baby Doge.

He tweeted “Baby Doge, doo, doo, doo, doo, doo,” by taking the reference to the known song “Baby Shark”  which was produced by Pinkfong a South Korean Company popular social media challenge previously.

After Musk's announcement, #babydoge is trending on Twitter and the price has surged to 98 percent nearly.

No positive responses come for Musk's tweet. A lot of crypto investors criticized Musk’s tweet mentioning that Tesla Chief manipulated the crypto market.

Dogecoin creator partnered with Shiba Inu dog from the time for the concept of Cryptocurrency. Doge associates with the Shibu Inu dog and now we have a Baby Doge. Baby Doge coins are being automatically added to your wallet each transaction.

Baby Doge seeks to impress his father by showing his new improved transaction speeds & adorableness. He is Hyper-deflationary with an integrated smart staking system built in so more baby doge are being added to your wallet. Simply Love, pet, and watch your baby doge grow,” a description on CoinMarketCap reads.

At the time of writing the market cap of Baby Doge is $0.2 billion which is only found a few months ago. As a joke, Dogecoin was created but now #babydoge goes on viral day by day on Twitter.

As of now, there is no information on whether the coin will supply to the market or not. We have to wait to see whether the coin has a bright future or not.

Baby Doge wanted to impress his father by increasing the transaction speeds and with his adorableness. Though the future is unclear and nothing can be said for sure

What is Baby Doge coin: Elon Musk’s Dogecoin spinoff

NEWS.com.au 04 July, 2021 - 09:30pm

A new cryptocurrency claims it has already attracted 200,000 buyers of its digital coins and now its caught the eye of the tech billionaire.

Baby doge is a new cryptocurrency being hyped by Elon Musk. Picture: TwitterSource:Twitter

Elon Musk has anointed an heir to dogecoin — and it’s called baby doge.

The billionaire Tesla CEO gave a shout-out to the month-old spinoff of the canine-themed cryptocurrency on Twitter, causing its price to more than double, according to CoinGecko data.

The Musk effect wore off shortly afterwards. As of midday Friday, baby doge had fallen about 22 percent from its peak. But baby doge’s trading volume has been consistently high since Musk’s post, indicating the potential for sustained interest among crypto traders.

So what, apart from the fact that its name is piggybacking on dogecoin, makes baby doge different?

It’s creators claim it has a market capitalisation of $265 million and more than 200,000 people have already purchased it. Picture: TwitterSource:Twitter

Baby doge — whose creators don’t appear to be affiliated with those who created dogecoin as a joke in 2013 — features a mascot that looks like a puppy version of its “father,” the Shiba Inu dog that is the face of dogecoin. It started trading in early June, after most of the original dogecoin mania had worn off.

“Baby Doge is proud to run with his father and provide transparency and fairness to the community,” reads a website for the coin, which also says that baby doge has a market capitalization of $US200 million ($A265 million).

More than 200,000 people purchased baby doge in the first month it was available, according to a Twitter account run by the coin’s creators. People who purchased baby doge on the first day it was available have reaped returns of about 500 per cent, according to CoinGecko.

But the new crypto coin has also attracted its shares of sceptics, with one on Thursday branding it a “pyramid scheme” over the way its transactions distribute fees to early investors, shortchanging newcomers.

“The only way to make money on a token like this is to get in early – typically before Elon Musk tweets about it,” Logan Ross wrote on Benzinga.

Baby doge doesn’t appear to be affiliated with those who created dogecoin as a joke in 2013. Picture: iStockSource:istock

While there is no limit on how many dogecoins can theoretically be created through crypto mining, baby doge’s creators say their coin is “hyper-deflationary” — which, oddly, they say means supply of the coin is contracting rather than expanding.

The creators of the coin even said Thursday that they would execute a “coin burn” of 3 quadrillion baby doge coins, driving up the price of baby doge by reducing supply. Still, a single Baby Doge coin is currently worth just $US0.000000001623.

While mainstream crypto trading sites like CoinBase and WeBull offer dogecoin, they do not let their users by baby doge.

However, interested crypto traders can buy baby doge through the crypto exchange Binance, which was banned from operating in Britain this week.

I would cut off a limb to work with you Elon pic.twitter.com/zcQErQ7xoz

Another cryptocurrency has also claimed to be dogecoin’s successor.

Shiba inu coin, which also features a dog mascot and pays homage to dogecoin, has been purchased by about 550,000 people since it launched in August 2020. It is currently the 26th largest coin by market capitalisation, according to CoinGecko.

Shiba inu coin is also subject to wild fluctuations based on Elon Musk tweets.

When Musk tweeted, “My Shiba Inu will be named Floki,” in June, Shiba Inu coin’s price spiked about 10 per cent.

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