Baby Doge Coin surges over 75% following Elon Musk tweet

Baby Doge Coin surged over 75% after Elon Musk posted a black-and-white Godfather-inspired tweet.

While Bitcoin (BTC) has recently shown volatility after rising to an all-time high of $103,900, Baby Doge Coin (BABYDOGE) has outperformed market conditions.

BABYDOGE’s price rose from a 24-hour low of $0.0000000002443 to a high of $0.0000000004448 following Musk’s tweet.

Source: CoinGecko

Musk has shown his influence in the crypto market before. Remember how his previous tweets about Dogecoin (DOGE) triggered a price spike and eventually a lawsuit?

Tesla’s founder tweeted a photo of himself and his son along with the words “Dogefather” and “Dogeson” stylized like the logo of the 1972 movie “The Godfather.” He mentioned “Doge & Minidoge” in response to the tweet.

Following the tweet, the price of DOGE increased by over 4% and BABYDOGE increased by over 75%.

BABYDOGE’s official X account also commented on the tweet, “Do you mean Babydoge?” he replied.

“In the crypto world, the only thing more unpredictable than BabyDoge’s next move is what Elon Musk will release next,” the Baby Doge team tweeted on December 5.

On the development side, the meme coin team is working to launch the meme token launch platform called dog.fun.

BABYDOGE also recently abandoned its token agreement with Solana (SOL). First launched on BNB Chain, memecoin has now spread to the Solana network. In late November, Binance also announced a new spot listing for BABYDOGE.

BABYDOGE’s recent rise in volatile market conditions can be primarily attributed to Musk’s tweet and the general developments of his team.