Baby Doge, a dog-themed meme cryptocurrency inspired by Dogecoin, has once again turned heads across the cryptocurrency landscape. Following the token’s recent renouncement of ownership on Ethereum and BNB Chain, the coin has now cleared the waters to expand its ventures to Solana.
A recent post shared on X pointed out that the meme coin’s proposal to deploy the BabyDoge token on the Solana network has officially passed. This sets the stage for the next phase of developmental upgrades for the meme coin’s successful deployment on one of the most renowned blockchains.
BabyDoge To Deploy On Solana: Here’s Everything
According to a post shared by the meme coin’s community today, June 8, the proposal on snapshot.org has officially passed, with the odds drastically tipping in favor of it. Notably, 100%, or 2668 trillion community members, voted ‘yes.’
The next phase in development is research, followed by developing, testing, and deployment phases. This ensures the smooth transition of a Solana-compatible BabyDoge token smart contract on the planned network after complete testing. Simultaneously, token bridges, initiating bridges between ETH, BNB Chain, and Solana, will also be available.
Why Solana?
Today’s post also shed light on the strategic decision to expand on Solana. Compared to Ethereum, Solana offers more cost-effective transactions, making it a more attractive option. Additionally, not all tier 1 centralized exchanges support BNB Chain, further solidifying Solana’s appeal. These factors played a crucial role in the decision to expand Baby Doge on Solana.
Following the successful deployment of BabyDoge on the network, transaction speed is expected to be 65,000+ TPS. The fees will also be lowered to $0.00025 per transaction.
These factors appear to have offered the crypto’s community a great appeal to pass the proposal. However, BabyDoge’s price slumped at press time, stirring speculations despite the optimistic development.
Also Read: 7 Altcoins To Dodge In Next Week’s Trades
BabyDoge Price Tumbles
As of writing, BabyDoge’s price dipped 8% in the past 24 hours and is currently trading at $0.000000001814. The token’s 24-hour bottoms and highs are $0.000000001814 and $0.000000001975, respectively.
The tumbled price movement primarily aligns with the broader crypto market’s waning price trend today. As the market recovers, a potential price rally may kick in for the meme coin.
Also Read: Elon Musk’s xAI Taps Into AI Image Generation & Other Features for Grok
This news is republished from another source.
