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

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

Puppy.fun airdrop ahead

Baby Doge Coin (BABYDOGE), one of the largest memecoins, is up 37% in the last seven days and 250% from its lowest point this year. Its market value rose from $180 million to more than $417 million in January.

The token’s rally began in September when it was listed by Binance, the largest crypto exchange in the industry. According to CoinGecko, BABYDOGE’s 24-hour volume on Binance was $94.23 million, accounting for 98% of the total. It was also recently listed by BiKing, a gaming and crypto exchange.

The rally coincides with Puppy.fun’s upcoming launch and airdrop. Although details are scarce, Puppy.fun will likely be the next meme coin generator in its ecosystem.

These generators have gained popularity recently. All meme coins generated on Solana’s Pump.fun have accumulated a market value of over $1.3 billion, while all-time fees collected have risen to $122.48 million. The market cap of all Sun Pump tokens is over $366 million.

Although Baby Doge Coin is a meme coin, developers have worked to create a utility for the token. They launched the BabyDogeSwap DeFi platform where users can swap, earn and buy NFTs. According to DeFi Llama, the total value of BabyDogeSwap is over $2.14 million.

BABYDOGE token has surged amid rumors that it will be listed by Coinbase and that developers will expand it on Solana (SOL) and other chains.

Baby Doge Coin price flipped key resistance Baby Doge Coin chart | Source: TradingView

The daily chart shows that the BABYDOGE token has increased since its listing on the Coinbase exchange in September. Before that, it formed a falling wedge formation, which is a popular bullish trend indicator.

On September 27, a golden cross pattern was formed with the intersection of the 50-day and 200-day moving averages. In most cases, an asset resumes its uptrend after forming the golden cross.

Baby Doge Coin has broken through key resistance at $0.0000000027, its high on September 28. Therefore, a move above the October 9 high of $0.0000000028 could signal further bullishness.