Many cryptocurrencies are down, but Baby Doge Coin meme coin is still breaking new resistances as it has continued to rally. 1MBABYDOGE price has recorded a 35% gain in the last 24 hours.
This meme-inspired digital asset combines cryptocurrency trading with animal welfare advocacy. The spiking numbers show that it is getting the attention of many.
Notable crypto analyst MEMELOVER notes the project’s rising market presence, noting its $9.9 billion market capitalization.
#1MBABYDOGE #BABYDOGE
Currently with a market cap of 9.9 billion dollars! It's the top-ranked memecoin on the #BNBChain, the asset with the highest trading volume on #PancakeSwap, and one of the top 5 memecoins by market cap on #Solana. As a highly anticipated meme coin,… pic.twitter.com/djS3vh8db0
— MEMELOVER (@GemMemelover) December 9, 2024The analyst emphasizes Baby Doge Coin dominant position as the leading memecoin on BNB Chain and its status as the highest-volume asset on PancakeSwap. Additionally, its top 5 ranking among Solana-based memecoins demonstrates its cross-chain appeal.
1MBABYDOGE Price Analysis
The price action shows a clear consolidation phase from September through early December, with the token trading between 0.0018114 and 0.0035000 USDT. This accumulation period set the stage for the current breakout.
The decisive move began two days ago, propelling the price from 0.0030000 USDT to approximately 0.0065000 USDT – marking a 70% increase. The presence of upper wicks in recent candles suggests profit-taking activity near the 0.0062392 USDT resistance level.
Looking forward, traders should watch for:
- Support at 0.0035000 USDT
- Resistance at 0.0062392 USDT
- Potential consolidation above the breakout level
Risk management suggests placing stops below 0.0035000 USDT, while more conservative traders might wait for a retest of the breakout zone before entering positions.
The project’s combination of meme appeal and stated social mission, alongside its technical breakout, appears to be driving this notable price action.
