The Baby Doge team has revealed that it has burned another one quadrillion BABYDOGE tokens, less than 24 hours after burning a staggering 50 quadrillion units of BABYDOGE worth $88 million.
According to the transaction's data on the Binance Smart Chain, the burn happened earlier today and was estimated to be worth $1.6 million. In order to burn all of its tokens, the Baby Doge team transmitted one quadrillion units of the dog-themed cryptocurrency from its official wallet to a dead wallet.
Baby Doge Committed to Reduce Its Total Supply
The development is an ongoing component of the monthly burn workout. In an effort to shrink the volume from 420 quadrillion units to a considerably smaller number, the Baby Doge team has started burning a portion of the token's supply every month.
The goal is to increase the cryptocurrency's value in the near future.
The Baby Doge team has been burning one quadrillion units of the cryptocurrency each month, but it has also burned more on unique instances, like when it receives support from a well-known person or thanks to a vote by its community.
It's interesting to note that the cryptocurrency project last month launched a community request that led to the deletion of 50 quadrillions BABYDOGE coins from the Ethereum network.
The Baby Doge team complied fully with investor demands when the community decided that the tokens should be delivered to the dead wallet all at once.
The largest burn transaction ever accomplished in the cryptocurrency sector was carried out by Baby Doge, who also tweeted a confirmation of the transaction.
BABYDOGE Down 9.3% in 24 Hours
However, despite Baby Doge's massive number of burns over the past 24 hours, the token is still not reflecting these encouraging trends. On the prior day, BABYDOGE, which rose to a high of $0.000000001780, plunged dramatically to a low of $0.00000000154.
Baby Doge Coin is now trading at $0.000000001780, and decreases 9.3 percent in the last 24hrs as of the time of writing.
