SHIB Killer Baby Doge Caught in the Middle of a Crypto Storm after Announcing the Renouncement of Their Ethereum Contract

While others lauded the move, it turned out to be a different picture. According to on-chain sleuths, Baby Doge's contract has not been renounced

Meme coin SHIB killer Baby Doge is at the center of a crypto storm after announcing the renouncement of their Ethereum contract. While others praised the move, it turned out to be a different picture altogether.

On-chain sleuths have revealed that Baby Doge’s contract has not been renounced, despite the earlier announcement. One such investigator accused the team of misleading people.

“My assertion about the token being a scam may be incorrect, however, they are engaging in unethical practices that are common among 99% of crypto projects in deceiving users. In my opinion, baby doge is a scam.”

Interestingly, the on-chain sleuth was among the few who raised questions about the meme coin project’s legitimacy.

“After the last post about baby doge being a scam, I got a lot of messages and comments from people who were surprised by the fact that the project is still up and running,” the investigator noted.

“They expressed their belief that the token would have been rugged by now, given the massive gains it has generated and the concerning lack of transparency surrounding the project.”

“While I appreciate the attention my analysis has received, I must clarify that I am not responsible for spreading rumors or causing panic among investors. My role is to conduct thorough investigations and present my findings, regardless of whether they align with popular narratives or preconceived notions.”

“Ultimately, it is up to each individual to decide how they wish to proceed based on the available information and their own risk tolerance.”

On June 11, the anonymous researcher, known by the moniker wallstreetpapa, revealed that the project had covertly drained the LP pool, which contained a total of 100K BNB, leaving only 21K BNB. Developers also took over 80K BNB.

To escape further scrutiny, the team allegedly orchestrated a donation campaign where they pledged 1K-2K BNB in charity as a means to enhance their reputation among the community.

The investigator also accused the platform of fooling Binance to list them. More than 85% of wallets are inactive and have done only 2-3 transactions which confirms that 85% of babydoge wallet is fake.

As the team at Baby Doge failed to address the allegations, the project announced several new improvements and initiatives to the ecosystem.

In one of the latest initiatives, the BabyDoge team is announcing trading competitions on ThenaFi Arena. This exciting collaboration aims to boost community engagement, enhance liquidity, and offer substantial prizes.

Community members will have the opportunity to compete for top prizes, including $500, $1,000, $2,500, or $5,000 in BabyDoge tokens. Don’t miss out on this incredible chance to multiply your BabyDoge holdings.

Another major announcement is the teaser of an upcoming Tangem hardware wallet integration. This integration will allow Tangem wallets to feature self-custodial, storage for Baby Doge and other cryptocurrencies.

Some of the functionalities that come with Tangem wallets include quick access from an NFC-enabled smartphone, secure activation, wide functionality, full autonomy, and top-level security certifications.

Despite the controversies surrounding the project, Baby Doge has managed to secure some notable exchange listings.

Recently, Baby Doge has been listed on Bybit Perpetuals and KCEX Perpetuals, expanding its reach and accessibility to a broader audience of traders.

Last week’s maintenance on BabyDogeSwap reportedly improved its speed, setting the stage for future improvements.

News source：https://www.kdj.com/cryptocurrencies-news/articles/shib-killer-baby-doge-caught-middle-crypto-storm-announcing-renouncement-ethereum-contract.html

The above is the detailed content of SHIB Killer Baby Doge Caught in the Middle of a Crypto Storm after Announcing the Renouncement of Their Ethereum Contract. For more information, please follow other related articles on the PHP Chinese website!