Baby Doge Swap is posting new highs almost every day, while $BABYDOGE burns up the crypto charts. Can the BNB Chain MemeFi project sustain this momentum?
Blistering start to 2023
For Baby Doge Swap, 2023 has been a year of victories. While leading the trending list on Binance, the MemeFi project keeps setting new highs for Total Value Locked (TVL) and Volume on its Decentralized Exchange (DEX).
The popularity and success have resulted in a more than threefold increase in value for $BabyDoge since the beginning of the year.
Let’s look at Baby Doge’s excellent year thus far:
Baby Doge Swap TVL
The team’s Twitter account is unable to keep up with the TVL on Baby Doge Swap, which is rapidly setting new ATHs. According to DefiLlama, on February 9 the Decentralized Finance (DeFi) platform almost reached $78 million in TVL.
That represents an increase from the TVL on January 1 of about 140 percent.
Popular on Binance
The crypto community is taking notice of the project’s winning ways. On Feb. 9, the project’s Twitter account noted that Baby Doge was trending #1 on Binance’s list of trending cryptocurrencies.
Additionally, there is a vertical trend in the number of transactions made on the Baby Doge Swap DEX. it is one of the top 7 DEXes on BNB Chain, according to DefiLlama, with a 7-day volume of $21.6 million, up 362% from the previous week.
From February 3–5, Baby Doge Swap set new ATHs for three days in a row with daily volumes of $2.7 million, $4.6 million, and $7.5 million.
— Baby Doge (@BabyDogeCoin) February 9, 2023
The day before, Baby Doge was trending #1 on DEXTools DeFi platform.
— Baby Doge (@BabyDogeCoin) February 8, 2023
The question any true degen will want to ask is, “Have those metrics translated to positive price action?”
The answer is: “Yes!”
According to CoinMarketCap, the market cap of $BABYDOGE grew from $109 million on Jan. 1 to a high of more than $416 million on Feb. 8. That’s nearly a 4x for token holders!
What is Baby Doge Swap
it is the acclaimed “son” of the popular meme token, DOGE. its started out as Baby Doge Coin and is a hyper-deflationary system that progressively increases its scarcity and increases its liquidity. The project is now a fully Decentralized Exchange with swaps, liquidity pools, yield farming, and more. Baby Doge considers its primary utility as building a fun meme community to spread awareness of animal adoption.