Baby Doge Coin ($BABYDOGE) surged by 82%, reaching a ten-month high market cap of $880 million, following a tweet from Elon Musk. This rally was part of a broader trend in the cryptocurrency market, where Dogecoin ($DOGE) also saw significant gains, hitting $0.46 and achieving a market cap of $68 billion, with a trading volume exceeding $8.3 billion. The increase in Baby Doge Coin's price was attributed to whale activity, with 99% of the supply held by large investors, hinting at potential retail demand growth. Since the beginning of the month, $2.5 million worth of netflows have been recorded, despite some sell-offs. The total number of wallets holding Baby Doge Coin increased from 16,000 to 33,000 this year, indicating growing interest in the token.