A Bitcoin (CRYPTO: BTC) meme-themed knockoff, Baby Bitcoin (CRYPTO: BBTC), is seeing strong gains as of Wednesday night, as the rallies in Dogecoin (CRYPTO: DOGE) and Shiba Inu (CRYPTO: SHIB) remain muted.
What Happened: Baby Bitcoin has surged 334.79% during the past 24 hours, trading at $0.0000000076 at press time. The token is the fourth biggest gainer among all cryptocurrencies, as per CoinMarketCap data.
The altcoin has surged 326.86% against apex cryptocurrency Bitcoin and also gained 298.53% against Ethereum.
See Also: How To Buy Bitcoin (BTC)
For comparison, major meme-themed cryptocurrencies Dogecoin and Shiba are up about 4.1% and 1.6% during the past 24 hours, lagging behind in a bull market.
Meanwhile, Bitcoin touched an all-time high of $66,930.39 on Wednesday amid the momentum imparted by the launch of the first U.S. Bitcoin futures-based ETF, ProShares Bitcoin Strategy ETF (NYSE:BITO).
Why It Matters: The project behind Baby Bitcoin says it plans to collaborate economically with different global organizations that work to alleviate child poverty.
The token, which calls itself the “Prince of Crypto,” says on its website that it is working around various projects, such as its online radio, a virtual casino that accepts the coin, online games, lotteries and solidarity non fungible tokens (NFTs).
Baby Bitcoin retweeted a post on Wednesday that says it has launched a lottery.
— #nohayretroceso (@Rolando_FFH) October 20, 2021
The coin is down 67.3% from its all-time high of $0.00000002 reached in July this year.