On May 1, BNB Smart Chain (BSC) token BabyDogeCoin (BABYDOGE) burned 4 quadrillion tokens to mark its “11 month birthday.” The memecoin has now burned 45% of its initial 420 quadrillion supply, but even with the large-scale token incineration, some community members are saying the latest burn still comes in at a few quadrillion BABYDOGE too short.
Despite complaints from some sections of the community, the latest BABYDOGE burn has resulted in a positive price impact for the token. In the last 24 hours, BABYDOGE is up 3.5% to $0.000000001832 a token. BABYDOGE is down on the 7 day (-20.2%), 14 day (-23.8%), and 30 day (-42.2%) rolling periods.
It’s this longer-term picture that continues to fuel discontent within some sections of the BabyDogeCoin’s user base. One community member on the BabyDogeCoin Discord channel argued that the burns need to increase a massive fivefold for the project to build significant momentum.
“Are there any plans to increase the burn amount per month? 4 quadrillion is too low right now. We need 20+ per month for this project to reach it’s [sic] true potential IMO,” said the community member.
That claim was met by incredulity, however.
“Eh? We’re 11 months old and burned 45.76% of the supply…” responded a fellow user.
On Crypto Twitter, which can usually be relied upon to host the most polarized voices in any debate, the criticisms were predictably more acute.
One user went as far as to state that they were “tired” of low quadrillion burns and that the next one should be an improved 50 quadrillion.
A positive trend line
Even in the face of some major peaks and troughs, community members with skills in technical analysis point out that the long-term trend line for BabyDogeCoin over the previous 11-months remains positive. Hodlers with diamond hands will hope the long-term trend line can continue through 2022 and beyond.
That will clearly not satisfy everyone, however. In the ever-impatient world of crypto, where fortunes are won and lost before lunchtime and won back again before supper, even four quadrillion (4,000,000,000,000,000) is apparently too small a number for some.
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BeInCrypto has reached out to company or individual involved in the story to get an official statement about the recent developments, but it has yet to hear back.