Following a tweet on the X media Platform by Elon Musk, Baby Dogecoin, a younger member of the Dogecoin meme coins rose by more than 75%.
It climbed from a 24-hour low of $0.0000000002443 to as high as $0.0000000004448.
Speculations have it that the billionaire’s tweet, which was reminiscent of the 1972 movie “The Godfather,” may have been his message of an endorsement of the memecoin.
More explicitly, Musk’s Tweet included a picture of himself and his son, with the phrases “Dogefather” and “Dogeson” sharing a thematic semblance with the movie’s logo.
While the tweet didn’t mention Baby Dogecoin, the crypto community immediately took it to be a reference to the younger meme coin.
Babydoge team tweeted after the post, “In the crypto world, the only thing more unpredictable than Baby Doge’s next move is what Elon Musk will post next.”
It is crucial to note that Baby Doge is a deflationary cryptocurrency token that uses playful branding like Dogecoin. It was first launched on the Binance Smart Chain, available on the Ethereum blockchain and has recently expanded to the Solana network.
The project is also on a charity mission to raise awareness for dog protection and adoption and has donated over $750,000 through partnerships with various animal rescues and shelters.