Here’s why the Baby Doge Coin pumped to March highs

Baby Doge Coin rose for four consecutive days, reaching a high of $0.0000000028, its highest level since March.

Puppy.fun airdrop ahead

Baby Doge Coin (BABYDOGE) has experienced a significant surge, rising 37% over the past week and 250% from its lowest point this year. Its market capitalization has increased from $180 million in January to over $417 million.

The rally began in September after BABYDOGE was listed on Binance, the largest cryptocurrency exchange. Recent data from CoinGecko shows that the token’s 24-hour trading volume on Binance reached $94.23 million, making up 98% of its total trading activity. BABYDOGE was also recently added to BiKing, a gaming and crypto exchange.

This price momentum is further fueled by the upcoming launch of Puppy.fun and its associated airdrop. While specific details are limited, Puppy.fun is expected to become the next meme coin generator within the Baby Doge ecosystem.

Meme coin generators have become increasingly popular, with Solana’s Pump.fun accumulating a market cap of over $1.3 billion, and its all-time fees reaching $122.48 million. Similarly, tokens created on Sun Pump have a combined market cap exceeding $366 million.

While Baby Doge Coin (BABYDOGE) is primarily a meme coin, its developers have made efforts to establish utility for the token. They launched the BabyDogeSwap DeFi platform, enabling users to swap, earn, and purchase NFTs. As reported by DeFi Llama, BabyDogeSwap currently has a total value locked (TVL) of over $2.14 million.

The recent rally of BABYDOGE has also been fueled by speculation regarding a potential listing on Coinbase, as well as plans to expand the token’s presence on Solana (SOL) and other blockchain networks. These developments have contributed to growing interest and optimism within the community.

Baby Doge Coin price flipped key resistance

The daily chart reveals that the BABYDOGE token experienced a significant surge in September following its listing on Coinbase. Before this rally, it had formed a falling wedge pattern, which is typically seen as a bullish reversal indicator.

On September 27, BABYDOGE created a golden cross pattern, where the 50-day moving average crossed above the 200-day moving average. This pattern often signals a continuation of a bullish trend.

The token successfully broke through a crucial resistance level at $0.0000000027, marking its peak on September 28. If it manages to move above the recent high of $0.0000000028 reached on October 9, it could indicate further upward momentum.