This is the 11591st most frequent Russian word.
едет
"Едет" means "is going" or "is driving" (used for vehicles or transportation).
In this example, 'едет' is applied metaphorically to describe the transport of an entity (the dog) sustained by a vehicle (the bicycle).
Собака едет в корзине на велосипеде.
The dog is riding in a basket on a bicycle.
The verb 'едет' describes the transit movement of a vehicle along a route.
Автобус едет по шоссе.
The bus is driving along the highway.
Here, 'едет' indicates the action of traveling using a mode of transportation, specifically a train.