Key Points
- Baby Doge Coin saw a 75% increase after a tweet from Elon Musk.
- Musk’s influence on crypto markets has been demonstrated before with Dogecoin.
Elon Musk’s recent tweet, inspired by the classic film “The Godfather,” has led to a significant surge in the value of Baby Doge Coin (BABYDOGE), which rose by over 75%.
In contrast, Bitcoin (BTC) has experienced volatility after reaching a new all-time high of $103,900. Despite these market conditions, BABYDOGE has managed to outperform.
Musk and Crypto
Musk’s impact on the crypto market is not a new phenomenon. His past tweets about Dogecoin (DOGE) have resulted in significant price increases and even a lawsuit.
In his recent tweet, Musk shared an image of himself and his son, with the words “Dogefather” and “Dogeson” styled in the manner of “The Godfather” film logo. He also mentioned “Doge & Minidoge” in his tweet.
As a result of Musk’s tweet, DOGE’s price increased by over 4%, while BABYDOGE’s price skyrocketed by over 75%.
BABYDOGE Developments
The BABYDOGE team has been actively developing their meme token launch platform, puppy.fun. They also recently renounced their token contract on Solana (SOL).
Originally launched on the BNB Chain, BABYDOGE has expanded to the Solana network. In late November, Binance announced a new spot listing for BABYDOGE.
The recent surge in BABYDOGE’s value amidst fluctuating market conditions can be largely attributed to Musk’s tweet and the ongoing developments by the BABYDOGE team.