Exploring the Massive Growth of BASE-Based Memecoins: A Market Overview

The post Exploring the Massive Growth of BASE-Based Memecoins: A Market Overview appeared first on Coinpedia Fintech News

A bullish momentum is gripping the meme sector, with some of the top Base-meme-coins yielding between 30% and 200% weekly. TVL exceeds $1.16b, hitting a new record in daily transactions, signaling an open trend in the market to try low-cap coins to maximize the profit returns. This buzz has propelled Base to new heights, unprecedentedly increasing weekly new users and several meme coins hitting record prices and trading volumes.

The recent surge in BASE-based meme coins is proof that Degen, Brett, All Your Base, Based Shiba Inu, and Broge are showcasing a changing trend in the market. These tokens have seen remarkable double-digit increases in value over the last week, catching the interest of both investors and traders. Interestingly, this surge aligns with the extraordinary increase in daily transactions on Coinbase’s Layer 2 chain, BASE, hitting an all-time high of 2.38 million transactions in just one day.

The increasing popularity of these meme coins has contributed to the substantial growth of BASE’s TVL, which now stands at over $1.16 billion. This influx of capital into the BASE ecosystem underscores the growing interest in meme coins and other assets within the platform. As a result, BASE has emerged as a significant player in the crypto market, offering traders an alternative platform to engage with these digital assets.

Meanwhile, as trading volume decreases on Solana’s decentralized exchanges, investors are showing more interest in Layer 2 chains such as BASE. They’re particularly attracted to meme coins based on BASE, which is causing a rise in daily transactions and trade volume on the platform. This shows how the investors are shifting their capital to find new opportunities and assets with strong potential for growth.

Recently, NFT expert @punk9059 observed a shift in the NFT community’s focus towards meme coins like DEGEN (Base-based meme coins), Ordinals, Bitcoin, and Farming Blast. This change coincided with Coinbase CEO Brian Armstrong’s initiation of a soulbound NFT airdrop on Base, hinting at a potential Base token airdrop. 

Plus, NFT holders are witnessing the rising popularity of meme coins based on BASE, leading some experts to speculate that money is moving from NFTs to these meme coins within the BASE ecosystem, potentially driving prices higher and solidifying BASE’s importance in the crypto space.

What is your favorite pick in meme season?