The BabyDoge dog-themed coin left Shiba Inu behind as it reached another milestone – hitting a new high in terms of number of holders.
Baby Doge was launched in June last year and as the meme coin nears its first anniversary, it seems to be gaining traction among cryptocurrency investors. In February, 1,360,410 wallets held the meme coin – an impressive feat for a young digital asset.
Many investors bought the dog-themed meme coin last July after Tesla CEO Elon Musk, a known Dogecoin advocate, tweeted about BabyDoge.
This month, BabyDoge has a total number of holders of 1,550,000, an increase of nearly 200,000.
As of May 31, another dog-themed altcoin, Shiba Inu, the second-largest altcoin by market capitalization, has registered 1,172,506 total holders on the Ethereum chain, with an increase of 32,000 this month. This puts SHIB behind the BabyDoge token in terms of total number of holders.
While more and more investors are buying Baby Doge, only five wallets hold the bulk of its supply, according to bloxy data. The top 100 BNB wallets have 1.8 quadrillion coins, or about $2,947,691, according to data from WhaleStats.
Beyond being a digital asset, Baby Doge’s mission is “to bring crypto to the average person while helping rescue dogs in need.” True to their promise, the team behind the meme coin donated around $400,000 to various dog rescue organizations earlier this month following the success of their non-fungible token (NFT).
Launching on April 20 for whitelisted users before the public TAUT, the NFT includes up to 10,000 unique Baby Doges created using 200 potential Baby Doge Shiba traits. This includes eyes, headwear, clothing, and more.
BabyDoge was trading up 11.62% at $0.00000000182, with a 24-hour volume of $12,232,418, while SHIB was trading up 3.34% at $0.0000121, with a 24-hour volume of $643,879,709, as of 12:06 a.m. ET Tuesday, based on data from CoinMarketCap.
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