Elon Musk, who is loved and hated by people, has a personal rhythm on encrypted assets on Twitter. After being complained by netizens and stopped for a while, he has recently started to make troubles again!

The self-proclaimed Doge father of Tesla and SpaceX has shown his humor in a series of funny posts. The tweet released the news about Baby Doge, a Dogecoin imitation disk, and helped its price rise by 130% in a short period of time.

“Baby Doge, doo, doo, doo, doo, doo,…” Musk’s tweet clearly referenced the baby shark dance, a nursery rhyme and one of the most viewed videos on YouTube, with hits Up to 8.8 billion times.

Baby Doge is a baby cryptocurrency born only 28 days old. According to CoinGecko data, the current trading price is $0.000000003584, and the price has increased by 3675.1% since its birth.

Information about Baby doge can be found on the Binance Smart Chain (BSC) browser bscscan.com, which also has a website called babydogecoin.com.

According to the website, Baby Doge Coin has learned some experiences and lessons from meme (meme currency) Musk’s Dogecoin. It is deflationary, with a built-in integrated smart mortgage system to reward users, all holders are automatically charged 5% of each transaction that occurs on the Baby Doge network, so each transaction automatically adds more coins to the in the user's wallet.

In addition, Baby Doge is different from Dogecoin at the technical level. Dogecoin runs on its own blockchain network (also known as "Dogecoin"), and Baby Doge runs on the BSC blockchain. The latter has lower transaction fees.

Overall though, Baby Doge is trying to impress Musk and Dogecoin enthusiasts by showing off his improved transaction speed and cute looks.

Musk has been touting his support for Dogecoin for months, saying that if Dogecoin implements key changes, such as improving throughput, it will beat Bitcoin "without a doubt." This once promoted the explosion of meme coins inspired by Shiba Inu, such as SHIB, which has been included and launched by Coinbase.

However, many investors who blindly follow Musk have changed their evaluation from positive to negative after the market turmoil caused by Musk’s remarks, believing that the magic power of the rise of such encrypted assets comes from the hype brought about by its influence.

Ethereum co-founder Charles Hoskinson has euphemistically expressed his hope that Musk's backing will help some "real developers come in and start working on Dogecoin" to create some real "use and utility." .

Therefore, whether for ordinary investors or professional developers, the most important thing for encrypted assets is to have a real use, not simply copy the code of Bitcoin (or other originator projects) without any innovation.

The phenomenon of wild development will always return to dust in the future. The development of the blockchain industry cannot be separated from the promotion of celebrity effects, but also cannot be separated from the reality of the project itself. For example, the innovative concept of "blockchain + entity" proposed by Yihuo.com , everything is based on expanding the entity, and the blockchain empowers the real economy.

Dogecoin, Baby Doge and other miracles of their increase have made people in the circle capitalize on their beliefs, but it is more important to promote practical applications, so as to convince outsiders and "convince" more groups who do not understand.

Risk Warning: The above content is for reference only and does not constitute investment advice!