Baby Doge Coin experienced a remarkable surge of over 75% following a black-and-white Godfather-themed tweet from Elon Musk.
While Bitcoin (BTC) has been facing volatility after reaching a new all-time high of $103,900, Baby Doge Coin (BABYDOGE) has been performing notably better than the broader market.
The price of BABYDOGE climbed from a 24-hour low of $0.0000000002443 to a peak of $0.0000000004448 in response to Musk’s tweet.
Musk has previously demonstrated his significant influence in the cryptocurrency sector. Recall how his earlier tweets regarding Dogecoin (DOGE) incited a price surge and ultimately led to a lawsuit.
The Tesla CEO tweeted an image of himself alongside his son, complemented by the terms “Dogefather” and “Dogeson” styled after the logo of the classic 1972 film “The Godfather.” In response to this tweet, he also mentioned “Doge & Minidoge.”
In the wake of his tweet, DOGE’s price increased by more than 4%, while BABYDOGE skyrocketed over 75%.
The official Twitter account for BABYDOGE replied to his tweet with, “You mean babydoge?”
On December 5, the Baby Doge team tweeted, stating that “in the crypto world, the only thing more unpredictable than BabyDoge’s next move is what Elon Musk will post next.”
From a developmental perspective, the meme coin team is actively working on launching a meme token platform known as puppy.fun.
Additionally, BABYDOGE has recently relinquished their token contract on Solana (SOL). Initially launched on the BNB Chain, this meme coin has now extended its reach to the Solana network. In late November, Binance also announced a new spot listing for BABYDOGE.
The recent rise of BABYDOGE amid an unpredictable market environment can largely be credited to Musk’s tweet along with the ongoing developments from their team.
