Elon Musk has once again influenced the cryptocurrency market, this time causing a significant surge in the value of Baby Doge [BABYDOGE]. His endorsement sparked a sudden increase in demand, pushing the memecoin to unprecedented levels.
The rapid rise of Baby Doge is largely attributed to the concentration of holdings by whales. This involvement of major holders raises questions and speculations about the future sustainability of Baby Doge's current momentum.
Observers are now closely watching to see if Baby Doge can maintain its value or if the initial hype will wane over time. The involvement of whales adds an additional layer of complexity to the dynamics of this memecoin's market performance.
