Tuesday, February 27, 2024
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Over 52 Trillion BabyDoge Burned in the Past 24 Hours as Token Burn Portal Nears Completion

In a bid to reduce the hyperinflated total supply of the decentralized meme token Baby Doge Coin, community members, and other contributors continue to send huge volumes of the token to the official BabyDoge burn wallet. Notably, these burns have been conducted while the dedicated BABYDOGE burn portal is yet to be launched.

In the last 24 hours, BabyDoge community members successfully took out 52,801,653,274,284 (~52.8 trillion) Babydogecoin out of its total supply. But in the past 7 and 30 days, an estimated 144.7 trillion and 743.7 trillion tokens have been incinerated at the time of writing. 

With these heavy burns recorded every day, the total BabyDoge coin burned equals 201,395,250,330,257,696 (approximately 201.3 quadrillion tokens) at the time of writing. That is, the community has successfully reduced the token’s total supply by 47.951% at the time of writing. The total supply of Babydoge is 420 quadrillion. 

Per an update from the token burn tracker, out of these overall burned tokens 33.7 trillion BabyDoge tokens worth about $50,134 were burned last Monday. In addition, approximately 731.8 trillion BABYDOGE coins have been destroyed in the past hour. 

It bears mentioning that all these tokens were flushed out by community members and other contributors even though the  Babydoge community has no burn portal. To further increase the token burn rate, the project developers began the development of a dedicated burn portal for BABYDOGE.

Per an announcement shared earlier this month, the team announced that the BabyDoge burn portal is in development and should be complete soon. It is expected that the launch and design of this burn portal would encourage more users to burn BabyDoge coins and in turn, contribute to the price growth of the asset. 

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Ndianabasi Tom
Ndianabasi Tom
Ndianabasi Tom joined the crypto and blockchain industry in late 2018. He is an all-rounded crypto journalist and content writer. At TimesTabloid, he covers the industry's latest news, developments, and other educational content. He is a graduate of Petroleum Engineering.
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