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.
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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