A rival of dog-themed crypto asset Shiba Inu (SHIB) is burning an eye-popping amount of its token supply as a deflationary measure.
In a new announcement, the development team behind Baby Doge Coin (BABYDOGE) says it has burned a staggering quadrillion tokens, worth about $2.6 million at time of writing, from its supply in a single transaction.
The token burn happened on BNB Chain, the blockchain of Binance, the world’s largest crypto exchange platform by volume and the protocol BABYDOGE was built on in 2021.
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Last month, the Baby Doge Coin team launched its own burn portal, which is a tool that burns and keeps track of how much of the meme asset’s supply has been discarded. The team said that for every token a
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