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 be inflicting a stir, having raised over $2 million since its ICO went dwell at first of the month.
BRETT Bounces Again – Is This Simply the Starting?
BRETT is popping heads with its latest 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, displaying that it nonetheless has the potential to blow up.
All of this bullishness got here after BRETT rejected the $0.130 assist stage.
Nonetheless, regardless of this rejection, the momentum appears to be slowing – suggesting that the preliminary pleasure is likely to be cooling off.
Zooming out, BRETT continues to be caught in a variety on the upper timeframes.
The 4-hour chart additionally showcases the token’s indecision, with the worth unable to determine whether or not it desires 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, displaying that merchants are paying extra consideration to BRETT.
BRETT has even leapfrogged E-book of Meme (BOME) available in the market cap rankings.
Why Are Traders Flocking to Base Meme Cash?
It’s not simply BRETT making waves on the Base blockchain.
All the 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 affords a lot decrease transaction charges than Ethereum’s mainnet.
This makes it a lovely 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 every day lively customers – and also you’ve received a recipe for viral development.
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 Massive 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 challenge’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 make the most of a brand new DeFi alternative, after which zipping over to Solana to commerce.
That is what the Base Dawgz builders bear in mind.
Including to the excitement is the challenge’s Share-to-Earn protocol.
It’s turning meme-making right into a profitable interest, with neighborhood 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 and marketing pushes, and mysterious “neighborhood rewards.”
Finally, because the Base ecosystem grows, meme cash like Base Dawgz are completely positioned to profit.
Whether or not DAWGZ would be the subsequent BRETT is anybody’s guess – nevertheless it’s actually ticking all the precise bins.
