Key Takeaways:
- Baby Doge Coin is working towards expanding its ecosystem.
- However, its native token, BABYDOGE price failed to respond to the cues.
NEW DELHI (CoinChapter.com) — Meme token Baby Doge Coin has been building partnerships to expand its ecosystem and establish utility for its native token BABYDOGE.
The platform announced that it would launch its virtual crypto card on May 4. The card would help users easily spend their BABYDOGE tokens and other digital assets at the point of sale. Moreover, the BABYDOGE team stated that the card could be used globally.
Baby Doge Coin partnered with FrenchConnection Finance (FCF), a blockchain payment platform, to launch the card. FCF is a Canada-based blockchain firm that claims to be Certik verified. Interestingly, launching its crypto card on May 4 might be the BABYDOGE team’s nod to Star Wars Day.
Additionally, in a Twitter thread, FCF reached out to blockchain-based marketplace UQUID to “brainstorm ways we can collaborate.”
Baby Doge Coin also announced listing on the cryptocurrency lending platform CoinRabbit. Furthermore, the meme coin’s developers shared that the BABYDOGE burn platform would go live on May 1st, adding to the token’s bullish cues.
BABYDOGE Price Refuses To Rally
Despite being a memecoin, a digital asset class that often relies on social media hype for a pump, BABYDOGE price bulls failed to start a rally.
The token has been moving inside a bullish pattern called the bull pennant for some time, but the pattern’s upper trendline rebuffed BABYDOGE price’s uptrend on April 21. The meme token painted its fourth consecutive red candle on May 1, dropping over 10% to form a daily low of $0.00000000246.
The Baby Doge Coin token price is down nearly 17% from April 28’s high of $0.000000002962. If the downtrend continues, BABYDOGE coin price might fall below its 100-day EMA (blue wave) to its support level near $0.000000002385.
Breaching the immediate support level might result in the Baby Doge Coin price testing support near $0.00000000189 before recovering.
Conversely, for BABYDOGE price to start a confident rally, bulls would need to break above its 20-day EMA (red wave) resistance near $0.000000002848.
Breaching and consolidating above the immediate resistance might help Baby Doge Coin price challenge resistance near $0.00000000339 before corrections pare gains.
