Baby Doge is recently graced by Elon Musk, the CEO of Tesla, who was the godfather of another cryptocurrency DogeCoin and then we all know what had happened to the Doge. Though the fifth most traded cryptocurrency today, Doge had suffered a big blow a few months before.
Well, let's move on to our main star today BABY DOGE.
Since Elon Musk tweeted about Baby Doge, the value of it has skyrocketed. On starting of this month, it has increased to 230% in value and by today to 725% in value. This is great news for the early investors as they would have 72 times the money they have invested or at least 3 times if they have invested on July 1.
Why be careful?
Though the coin has made a great impression and is doing great but the experts are varied of the credibility of the Baby Doge in the long run as it is new and has no product backing it. So in the longer run, it could fail the investors. So making a long time investment would not be a good idea.
About Baby Doge
Baby Doge's version one has potential liquidity with 71 million USD
in 24 hours and the second version shows more than 3 million USD.
Conclusion
Baby Doge is currently growing fast and could be a great short-term investment but to choose Baby Doge as a long-term investment could be quite risky as the coin is new and doesn't have any product backing it. It could probably fail like other copy coins.
Posted Using LeoFinance Beta
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