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What’s the Reason Behind BABYDOGE’s 8% Pump?

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BABYDOGE

  • Memecoin BABYDOGE jumped 8% over the past 24 hours.
  • The meme project’s 0% transaction fee proposal fetched 99.57% votes; an official update is anticipated.

In the last 24-hour trading window, memecoins have surged, with key hyped memes Dogwifhat (WIF), PEPE, and BONK leading the pack with double-digit gains. Following the trail, BabyDoge (BABYDOGE), a notable dog-themed Ethereum memecoin, has pumped 7% to reclaim a $270 million market cap after a bearish week.

This brief pump appears on the chart after the official BabyDoge team confirmed that the community had passed their new DAO proposal — 0% transaction fee — with 99.57% of the votes in favor.

BABYDOGE/USD Price Chart (Source: CoinMarketCap)

On the 4-hour trading chart, BABYDOGE’s price action hovers above the 9-day exponential moving average (EMA). This indicates the coin’s current uptrend. At press time, BABYDOGE traded at $0.000000001901 and a market cap of $274.8 million. But the daily trading volume experienced no significant increase.

What is BabyDoge’s New Proposal All About?

The proposal aims to lower BABYDOGE-linked transaction fees to 0% on the BNB chain, to enhance accessibility and adoption. It was presented to the community and opened for voting on April 24. Notably, when the voting concluded on Wednesday, 99.57% of votes from the memecoin community were in favor of the proposal.

(Source: BABYDOGE Proposal Snapshot)

Furthermore, once the proposal is implemented, there would be no burns each month, confirms the team. According to data, over 140 trillion BABYDOGE were burned in the last month, with the last 24 hours recording a burn of over 1.96 trillion BABYDOGE.

Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

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