The Base blockchain continues to develop – with two joke tokens making headlines this week.
Brett (BRETT), Base’s largest meme coin, has surged nearly 20% prior to now 24 hours.
Scorching on its tail, newcomer Base Dawgz (DAWGZ) can also be inflicting a stir, having raised over $2 million since its ICO went reside firstly of the month.
BRETT Bounces Again – Is This Simply the Starting?
BRETT is popping heads with its current value motion.
After a interval of uncertainty, BRETT has bounced again, presently buying and selling at $0.155.
Earlier immediately, the token even touched $0.162 earlier than pulling again barely, exhibiting that it nonetheless has the potential to blow up.
All of this bullishness got here after BRETT rejected the $0.130 assist stage.
Nevertheless, regardless of this rejection, the momentum appears to be slowing – suggesting that the preliminary pleasure is perhaps cooling off.
Zooming out, BRETT continues to be caught in a spread on the upper timeframes.
The 4-hour chart additionally showcases the token’s indecision, with the value unable to determine whether or not it needs to remain above or under the 50-period exponential shifting common (EMA).
Regardless of this indecision, there’s no denying merchants’ curiosity.
Spot volumes are up 53% since yesterday, exhibiting that merchants are paying extra consideration to BRETT.
BRETT has even leapfrogged Ebook of Meme (BOME) out there cap rankings.
Why Are Traders Flocking to Base Meme Cash?
It’s not simply BRETT making waves on the Base blockchain.
Your complete Base meme coin market is surging, with its complete worth rising 10% to over $2 billion prior to now day.
Buying and selling volumes are additionally on the up – now at $140 million.
Whereas BRETT, DEGEN, and TOSHI proceed to dominate the dialog, newcomers are shortly making their mark.
BENJI, for example, has been rocketing up the charts, proving there’s at all times room for brand new gamers.
However what’s driving the meme coin mania on Base?
For starters, Base’s layer-2 structure provides a lot decrease transaction charges than Ethereum’s mainnet.
This makes it a sexy playground for builders and merchants seeking to capitalize on the demand for meme cash.
Add to that Base’s rising consumer base – now at over 500,000 day by day energetic customers – and also you’ve obtained a recipe for viral progress.
Base complete worth locked (TVL) has additionally rocketed to $1.5 billion.
These figures present why Base has develop into a breeding floor for meme cash in 2024.
Might Base Dawgz be the Subsequent Huge Base Meme Coin?
Alongside BRETT, one other Base meme coin is making headlines this week.
Base Dawgz has simply sailed previous the $2 million milestone in its ICO, showcasing the large curiosity from retail traders.
Importantly, the excitement round Base Dawgz isn’t simply due to its ICO success.
Social media platforms are additionally red-hot with chatter about this meme coin, with the mission’s Twitter web page now at 4,000 followers.
Many of the pleasure is about DAWGZ’s multi-chain capabilities.
Think about shopping for DAWGZ tokens on Base, shortly transferring them to Ethereum to benefit from a brand new DeFi alternative, after which zipping over to Solana to commerce.
That is what the Base Dawgz builders take into account.
Including to the excitement is the mission’s Share-to-Earn protocol.
It’s turning meme-making right into a profitable interest, with group members incomes factors for creating and sharing DAWGZ-related content material.
These factors can later be exchanged for DAWGZ tokens – making a self-fulfilling hype cycle.
Base Dawgz’s whitepaper has additionally caught the attention of traders.
It outlines plans for DEX listings, advertising pushes, and mysterious “group rewards.”
Finally, because the Base ecosystem grows, meme cash like Base Dawgz are completely positioned to learn.
Whether or not DAWGZ would be the subsequent BRETT is anybody’s guess – but it surely’s definitely ticking all the proper bins.
