A Market Overview: Investigating the Enormous Expansion of BASE-Based Memecoins
The meme sector is currently experiencing a surge in bullish momentum, resulting in significant gains for popular Base-meme-coins. These coins have seen weekly returns ranging from 30% to 200%, attracting the attention of investors looking to maximize their profits. This trend has also led to a record-breaking daily transaction volume of over $1.16 billion, indicating a growing interest in low-cap coins.
The recent success of Base-meme-coins, including Degen, Brett, All Your Base, Based Shiba Inu, and Broge, highlights a shift in market trends. These tokens have seen impressive double-digit increases in value over the past week, enticing both investors and traders. Interestingly, this surge coincides with the remarkable rise in daily transactions on Coinbase’s Layer 2 chain, BASE, which reached a record high of 2.38 million transactions in a single day.
The popularity of these meme coins has contributed to the significant growth of BASE’s Total Value Locked (TVL), which now exceeds $1.16 billion. This influx of capital into the BASE ecosystem demonstrates the increasing interest in meme coins and other assets available on the platform. As a result, BASE has emerged as a prominent player in the crypto market, offering traders an alternative platform to engage with these digital assets.
In contrast, as trading volume decreases on decentralized exchanges on the Solana blockchain, investors are turning their attention to Layer 2 chains like BASE. They are particularly drawn to meme coins based on BASE, leading to a surge in daily transactions and trade volume on the platform. This shift indicates that investors are reallocating their capital to seek new opportunities and assets with strong growth potential.
Moreover, the NFT community has recently shown a growing interest in meme coins such as DEGEN (Base-based meme coins), Ordinals, Bitcoin, and Farming Blast. This change in focus coincided with Coinbase CEO Brian Armstrong’s initiation of a soulbound NFT airdrop on Base, hinting at a potential Base token airdrop. Additionally, NFT holders are witnessing the increasing popularity of meme coins based on BASE, leading experts to speculate that money is flowing from NFTs to these meme coins within the BASE ecosystem, potentially driving prices higher and solidifying BASE’s significance in the crypto space.
In light of these developments, it is essential to stay updated on the latest trends and opportunities in the meme season.