Baby CakeBABYCAKE
$0.000548
Market/Exchange
BABYCAKE Price Prediction and Price Movement
BABYCAKE has been down 0 percent over the last three months, and with its small market capitalization, it is very likely that such price movement may continue. However three months is still considered early in the crypto world and it is also likely that BABYCAKE's price may bounce back if it has a solid team and has delivered what they promised on their white papers. Therefore traders should be careful and should research thoroughly and see if BABYCAKE is backed by a solid development team and whether BABYCAKE's technology has any potential to grow.
Please note that this analysis is purely base on BABYCAKE's historic price actions and is by no means financial advice. Traders should always do their own research and be extra careful while investing in cryptocurrencies.
Baby Cake Price Chart
About Baby Cake
To learn more about this project, check out our deep dive of Baby Cake.
What Is Baby Cake (BABYCAKE)?
Baby Cake is a meme coin that is "the first CAKE reflection token." Holders of at least 200,000 BABYCAKE get paid hourly rewards for holding BABYCAKE.
Despite the fact that it's still a very new meme coin — Baby Cake was only launched on July 17, 2021 — Baby Cake has already grown a big community thanks to a concentrated influencer marketing effort. It has over 40,000 followers on Telegram and over 15,000 followers on Twitter, and Baby Cake has already reached a market capitalization of over $30 million as of August 2021. It still plans to add an earnings tracking dashboard, as well as an NFT platform, although the roadmap doesn't specify when that's going to happen.
Who Are the Founders of Baby Cake?
Not much is known about the Baby Cake founders. The CEO and founder goes by the name of "Monk" on Twitter, and he revealed himself in a video to the Telegram community. He seems to be of French origin. The COO Sam Stratten is from Sydney, Australia with "Halo" listed as co-founder. Anonymous teams are not unusual in the crypto space; for instance, Sushi is another example of a project with an anonymous founder.
What Makes Baby Cake Unique?
Baby Cake wants to incentivize holders to buy and hold their coin by providing a unique mechanism that punishes selling and redirects selling fees to the remaining holders. Every buy transaction carries a 15% fee. 5% of that are redirected to the marketing budget and for buybacks, 3% go to the liquidity pool and 7% are redistributed back to existing holders. What's more, sell transactions carry an extra 1% on top of that to discourage swing trading.
Baby Cake claims to have come up with a unique system that auto-claims the rewards for every holder. Every 60 minutes, these rewards are automatically claimed (if enough transactions have happened). The minimum token balance for that is 200,000 BABYCAKE. This auto-claim feature is an intelligent way of generating a passive income for all BABYCAKE holders. Combined with the anti-swing trading mechanism in place, Baby Cake seems to have found a mechanism to limit whales' market-making power.
It remains to be seen whether Baby Cake will continue with its Bay Cake AR gaming app and Baby Cake NFT platform.
Related Pages:
Check out Safemoon (SAFE) — a meme coin with a similar incentive structure to Baby Cake.
Check out Shiba Inu (SHIB) — another widely known meme coin.
Read our other article about Baby Cake
Get the latest crypto news and latest trading insights with the CoinMarketCap blog.
How Many Baby Cake (BABYCAKE) Coins Are There in Circulation?
The total supply of BABY CAKE is 100 billion. 5% are allocated to the team and locked for six months. 95% will be unlocked over the following 12 months, starting July 2021. Baby Cake hired DXLock as a partner to ensure all raised liquidity is secured in a locker for the full time frame. That way, holders can rest assured they'll always be able to exchange their BABYCAKE.
How Is the Baby Cake Network Secured?
Baby Cake is a BEP-20 token on the Binance Smart Chain. It benefits from low fees and high throughput on this exchange. Moreover, the thriving meme coin ecosystem on BSC makes it a perfect choice for new meme coins to launch on, as potential investors are ready to deploy capital. That way, BSC matches up supply and demand and aligns the incentives for both sides.
BSC is secured through the proof-of-stake consensus mechanism. 21 validators are elected every 24 hours to validate transactions and maintain blockchain security. These validators have to stake a certain amount of BNB coins with Binance to be eligible to do so.
Moreover, Baby Cake has been independently audited by HASHEX, ensuring it fulfills all necessary security standards.
When Will Baby Cake Trading Begin?
Baby Cake trading began on July 17th 2021 and quickly exceeded a market capitalization of $100 million, before retreating to around $30 million as of July 30th.
Can Baby Cake Hit $0.01?
Baby Cake hit an all-time high of $0.001 within a week of its launch. Considering the value proposition for yield hunters with auto-claiming rewards and incentive structures that punish sellers and strongly reward holding, it's not unthinkable for BABYCAKE to hit $0.01 eventually. That would imply a market capitalization of $1 billion. In comparison, the popular meme coin Shiba Inu has a market cap of over $2 billion as of July 2021.
Where Can You Buy Baby Cake (BABYCAKE)?
BABYCAKE is available on Pancakeswap. If you want to learn more about how you can start buying cryptocurrencies, you can read more here in our guide.