Pupcoins have not been left in 2021, to the excitement of some and the astonishment of others. The crypto industry is regaining its footing today after spending the last several days chalking up losses; as most of the market chalks up gains of 2% to 3%, though, Baby Doge Coin (CCC:BABYDOGE-USD) is running away with gains north of 10%. The BABYDOGE crypto is looking to lead the pupcoin charge through January. Gains today are the result of social media pumping by the token’s many bullish fans.
The polarizing pupcoin class has caught the admiration of its bulls by unlocking wealth for anybody willing to participate in the community via speculative investing; the various coins’ sizable gains through the second half of 2021 are enough to keep money flowing through the niche asset class against the expectations of investors more focused on fundamentals.
BABYDOGE is one such token; born in the summer of last year, the token is a self-described “meme token” that plays on the success of Dogecoin (CCC:DOGE-USD) and other dog-themed cryptocurrencies. The token caught investors’ attention in late October, as it took off on a steep run upward.
Today, the BABYDOGE crypto is back on a price tear. While there’s not much in the way of news from developers, it seems like the bullish run can be attributed to Baby Doge Coin bulls pushing to get the crypto listed on the Binance (CCC:BNB-USD) exchange.
BABYDOGE Crypto Sees Price Boost as Bulls Look for Binance Listing
As Bloomberg reported this week, BABYDOGE is seeing swaths of support across Twitter, with users advising others to get on the BABYDOGE rocket before it takes off. The exposure is getting a lot of new investors aboard the pupcoin; in fact, the token is seeing new impressive highs in trading volume as more and more users pick up their own bag. The social media pumping is also causing movement among the largest of whales; yesterday saw BABYDOGE overtake Ethereum (CCC:ETH-USD) as the most traded crypto among the largest 1,000 Binance Smart Chain wallets.
The token’s developers are taking advantage of the spreading #BabyDoge presence on Twitter. Indeed, they are trying to translate the hype into tangible change. With the launch of Binance’s #MyCryptoWish campaign, users can tell the exchange their biggest hopes for changes on the platform; Binance promises it will actually implement the top 10 wishes. Of course, the official Baby Doge Coin channel is pushing holders to request a BABYDOGE listing on the Binance platform; as the largest exchange in the world, a listing on Binance stands to be a huge price catalyst.
In the wake of the campaign, #BabyDogeCoin is trending on Twitter, with thousands of tweets cropping up using the hashtag. Meanwhile, BABYDOGE is gaining nearly 11%, even with a drop-off in trading volume.
On the date of publication, Brenden Rearick did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.