The Base blockchain continues to grow – with two joke tokens making headlines this week.
Brett (BRETT), Base’s largest meme coin, has surged almost 20% in the past 24 hours.
Hot on its tail, newcomer Base Dawgz (DAWGZ) is also causing a stir, having raised over $2 million since its ICO went live at the beginning of the month.
BRETT Bounces Back – Is This Just the Beginning?
BRETT is turning heads with its recent price action.
After a period of uncertainty, BRETT has bounced back, currently trading at $0.155.
Earlier today, the token even touched $0.162 before pulling back slightly, showing that it still has the potential to explode.
All of this bullishness came after BRETT rejected the $0.130 support level.
However, despite this rejection, the momentum seems to be slowing – suggesting that the initial excitement might be cooling off.
Zooming out, BRETT is still stuck in a range on the higher timeframes.
The 4-hour chart also showcases the token’s indecision, with the price unable to decide whether it wants to stay above or below the 50-period exponential moving average (EMA).
Despite this indecision, there’s no denying traders’ interest.
Spot volumes are up 53% since yesterday, showing that traders are paying more attention to BRETT.
BRETT has even leapfrogged Book of Meme (BOME) in the market cap rankings.
Why Are Investors Flocking to Base Meme Coins?
It’s not just BRETT making waves on the Base blockchain.
The entire Base meme coin market is surging, with its total value rising 10% to over $2 billion in the past day.
Trading volumes are also on the up – now at $140 million.
While BRETT, DEGEN, and TOSHI continue to dominate the conversation, newcomers are quickly making their mark.
BENJI, for instance, has been rocketing up the charts, proving there’s always room for new players.
But what’s driving the meme coin mania on Base?
For starters, Base’s layer-2 architecture offers much lower transaction fees than Ethereum’s mainnet.
This makes it an attractive playground for developers and traders looking to capitalize on the demand for meme coins.
Add to that Base’s growing user base – now at over 500,000 daily active users – and you’ve got a recipe for viral growth.
Base total value locked (TVL) has also rocketed to $1.5 billion.
These figures show why Base has become a breeding ground for meme coins in 2024.
Could Base Dawgz be the Next Big Base Meme Coin?
Alongside BRETT, another Base meme coin is making headlines this week.
Base Dawgz has just sailed past the $2 million milestone in its ICO, showcasing the enormous interest from retail investors.
Importantly, the buzz around Base Dawgz isn’t just because of its ICO success.
Social media platforms are also red-hot with chatter about this meme coin, with the project’s Twitter page now at 4,000 followers.
Most of the excitement is about DAWGZ’s multi-chain capabilities.
Imagine buying DAWGZ tokens on Base, quickly transferring them to Ethereum to take advantage of a new DeFi opportunity, and then zipping over to Solana to trade.
This is what the Base Dawgz developers have in mind.
Adding to the buzz is the project’s Share-to-Earn protocol.
It’s turning meme-making into a lucrative hobby, with community members earning points for creating and sharing DAWGZ-related content.
These points can later be exchanged for DAWGZ tokens – creating a self-fulfilling hype cycle.
Base Dawgz’s whitepaper has also caught the eye of investors.
It outlines plans for DEX listings, marketing pushes, and mysterious “community rewards.”
Ultimately, as the Base ecosystem grows, meme coins like Base Dawgz are perfectly positioned to benefit.
Whether DAWGZ will be the next BRETT is anyone’s guess – but it’s certainly ticking all the right boxes.