Baby Doge Coin Team Burns Over 1 Quadrillion Tokens Following Community’s Approval

BabyDoge incinerates over 1Q tokens from supply.

The development team behind Baby Doge Coin has announced that it burned a whopping amount of BabyDoge on December 1. In a tweet today, the burn consisted of two parts. The first transaction saw the team incinerate 1 quadrillion tokens worth $1.2 million at the time of the transaction. Similarly, the team also used 16 BNB from its DEX’s swap fees to buy back and burn BabyDoge tokens.

According to blockchain data from BscScan, the team swapped the 16 BNB for 4,032,904,250,987 (4.03T) BabyDoge, and the tokens were sent to the official dead wallet.

Burn is here!

1 quadrillion burned from token volume worth estimated $1.2mhttps://t.co/PKG0yWZxpD

16 BNB buy back and burn from BabyDogeSwaphttps://t.co/zNq2KJ3WLU pic.twitter.com/aMqyO2h2a6

— BabyDogeSwap.com LIVE (@BabyDogeCoin) December 2, 2022

Community Supports BabyDoge Monthly Burns

The announcement comes a week after the community massively voted for a proposal to resume monthly burns. Following the community’s approval, the team said it would implement the first burn on December 1. Notably, the recent burn is the first in a series of BabyDoge burns that will take place monthly for the canine-themed cryptocurrency.

According to the Baby Doge team, the monthly burns will not be of the same magnitude as previous ones because the tokens will not come from BabyDoge’s treasury.

“We can bring back monthly burns however they would not be in the form of treasury tokens as they are used for farming rewards. The burns will NOT be of the same magnitude as before as we need the treasury tokens for farming rewards,” Baby Doge said in a statement.

BabyDoge Burns

Baby Doge Coin remains one of the cryptocurrency projects that has incinerated huge amounts of its supply via a series of burn efforts. Out of a total supply of 420 quadrillion tokens, the team has incinerated a whopping 200.5Q BabyDoge, according to data on Baby Doge Swap.

Despite the hefty burns carried out in the past, the team is still not relenting in its efforts to drastically reduce its supply. TheCryptoBasic reported recently that the team is also considering launching an official burn portal to enable holders to voluntarily burn their BabyDoge holdings.

At the time of writing, the price of BabyDoge was trading at $0.000000001141, down 2% in the past 24 hours.

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