Baby Doge Coin surged over 75% after Elon Musk posted a black-and-white Godfather-inspired tweet.
While Bitcoin (BTC) has shown volatility recently following its push to a new all-time high of $103,900, Baby Doge Coin (BABYDOGE) has outpaced the market conditions.
The price of BABYDOGE has pumped from a 24-hour low of $0.0000000002443 to as high as $0.0000000004448 following Musks tweet.
Source: CoinGecko
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Musk has shown his influence in the crypto market before. Recall how his previous tweets about Dogecoin (DOGE) triggered a price pump and, eventually, a lawsuit.
The Tesla founder tweeted a photo of himself and his son along with the words “Dogefather” and “Dogeson” stylized like the logo of the 1972 film “The Godfather.” As a reply to the tweet, he mentioned “Doge & Minidoge”.
Following the tweet, the price of DOGE jumped over 4%, and BABYDOGE rose by over 75%.
The official X account of BABYDOGE also replied to the tweet, “You mean babydoge？”
On Dec 5, the Baby Doge team tweeted that “in the crypto world, the only thing more unpredictable than BabyDoges next move is what Elon Musk will post next.”
On the development side, the meme coin team has been working on launching their meme token launch platform called puppy.fun.
BABYDOGE also recently renounced their token contract on Solana (SOL). The meme coin, which was initially launched on the BNB Chain, has now also expanded to the Solana network. In late November, Binance had also announced a new spot listing for BABYDOGE.
The recent surge of BABYDOGE amidst the volatile market conditions could primarily be attributed to Musks tweet alongside the overall developments by their team.
Read more: NFT sales surge 34% to $196.2m, Ethereum network showcases 97% spike in sales