BNB

Baby Doge Swap Hits New ATH, Approaches $50M in TVL

by BSC News

February 2, 2023

chain

Baby Doge Swap is running at the head of the pack of MemeFi projects that are creating DeFi utility to go with their memecoin popularity.

$BABYDOGE Boosting the MemeFi Trend

Baby Doge Swap is making serious noise in the Decentralized Finance (DeFi) space on BNB Chain. The Total Value Locked (TVL) on the memecoin’s Decentralized Exchange (DEX) rocketed past its previous all-time high in the past week.

The increase was so sharp that by the time the official Baby Doge account tweeted about surpassing a milestone $40 million in TVL, the DEX was approaching the $49 million mark, according to DefiLlama.

Source: DefiLlama

In terms of volume, Baby Doge Swap is climbing the ranks, and now is within the top-15 DEXes on BNB Chain, according to DefiLlama. The protocol’s weekly transaction volume increased by 67% to $4.7 million in the past seven days, which is by far the biggest jump for any DEX on the chain with a weekly volume of over $1 million.

Baby Doge’s venture into the DeFi space is part of the MemeFi trend, as other major memecoins such as Shiba Inu and Floki are also building in the bear market in hopes of leveraging their popularity to promote the adoption of their utility-focused products.

What is Baby Doge Swap:

Baby Doge Swap is the acclaimed “son” of the popular meme token, DOGE. Baby Doge Swap started out as Baby Doge Coin and is a hyper-deflationary system that progressively increases its scarcity and increases its liquidity. The project is now a fully Decentralized Exchange with swaps, liquidity pools, yield farming, and more. Baby Doge considers its primary utility as building a fun meme community to spread awareness of animal adoption.

Where to find Baby Doge Coin:

Website | Twitter | Telegram | Reddit | Swap |

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