Ethereum

Memecoin

when

<ul>
 <li><strong>Memecoin BABYDOGE jumped 8% over the past 24 hours.</strong></li>
 <li><strong>The meme project’s 0% transaction fee proposal fetched 99.57% votes; an official update is anticipated.</strong></li>
</ul>
<p>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.</p>
<p>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.</p>
<div class="wp-block-image">
 <figure class="aligncenter size-large"><img decoding="async" width="1024" height="683" src="https://thenewscrypto.com/wp-content/uploads/2024/05/BabyDoge_1D_graph_coinmarketcap-1-1024x683.jpeg" alt="" class="wp-image-97383" srcset="https://thenewscrypto.com/wp-content/uploads/2024/05/BabyDoge_1D_graph_coinmarketcap-1-1024x683.jpeg 1024w, https://thenewscrypto.com/wp-content/uploads/2024/05/BabyDoge_1D_graph_coinmarketcap-1-300x200.jpeg 300w, https://thenewscrypto.com/wp-content/uploads/2024/05/BabyDoge_1D_graph_coinmarketcap-1-768x512.jpeg 768w, https://thenewscrypto.com/wp-content/uploads/2024/05/BabyDoge_1D_graph_coinmarketcap-1.jpeg 1200w" sizes="(max-width: 1024px) 100vw, 1024px">
  <figcaption class="wp-element-caption"><em>BABYDOGE/USD Price Chart (Source: </em><a href="https://coinmarketcap.com/currencies/baby-doge-coin/" target="_blank" rel="noopener noreferrer nofollow"><em>CoinMarketCap</em></a><em>)</em>
  </figcaption>
 </figure>
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<p>On the 4-hour trading <a href="https://www.tradingview.com/x/mMQYvyHZ/" target="_blank" rel="noopener noreferrer nofollow">chart</a>, BABYDOGE’s price action hovers above the 9-day exponential moving average (EMA). This indicates the coin’s current uptrend.&nbsp;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.</p>
<h3 class="wp-block-heading" id="h-what-is-babydoge-s-new-proposal-all-about"><strong>What is BabyDoge’s New Proposal All About?</strong></h3>
<p>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 <a href="https://thenewscrypto.com/pepe-coin-leaps-15-amid-crypto-market-slump/" target="_blank" rel="noopener noreferrer nofollow">memecoin</a> community were in favor of the proposal.</p>
<div class="wp-block-image">
 <figure class="aligncenter size-full"><img decoding="async" width="354" height="452" src="https://thenewscrypto.com/wp-content/uploads/2024/05/image-7.png" alt="" class="wp-image-97382" srcset="https://thenewscrypto.com/wp-content/uploads/2024/05/image-7.png 354w, https://thenewscrypto.com/wp-content/uploads/2024/05/image-7-235x300.png 235w" sizes="(max-width: 354px) 100vw, 354px">
  <figcaption class="wp-element-caption"><em>(Source: </em><a href="https://snapshot.org/#/babydogevote.eth/proposal/0xaebccdb1f204033cf82305c7c081b45db80b84f98773ca5e993749c4d671ea55" target="_blank" rel="noopener noreferrer nofollow"><em>BABYDOGE Proposal Snapshot</em></a><em>)</em>
  </figcaption>
 </figure>
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<p>Furthermore, once the proposal is implemented, there would be no burns each month, confirms the team. According to <a href="https://www.crypteye.io/burntracker/coins/baby-doge-coin" target="_blank" rel="noopener noreferrer nofollow">data</a>, over 140 trillion BABYDOGE were burned in the last month, with the last 24 hours recording a burn of over 1.96 trillion BABYDOGE.</p>

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

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TheNewsCrypto

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