Just as Dogecoin and Shiba Inu grabbed crypto headlines in 2021, the 2024 bull season is likely to be remembered for the big rises in countless meme coins in the coming years.
Solana has also gained a special place in this meme coin frenzy in recent months. While the total meme coin market cap has reached over $60 billion, the value of Solana-based ones is currently around $6.4 billion.
Like Solana, the Avalanche network has an important place in meme coins, while the Avalanche Foundation has announced that it will invest in this area.
Base network also joined
The meme coins on the Base network, which was first announced in August 2023 and behind which Coinbase exchange is behind, have also started to attract attention in recent days. One of the notable meme coins on the network was the BRIUN token, inspired by Coinbase CEO Brian Armstrong and named “Briun Armstrung”. This meme coin gained more than 300% in a week.
5500% increase in the last 1 month
The DEGEN token launched on Base has risen more than 1500% in a month. The market value of this token also exceeded $250 million. Based Chad, which was released on Friday, has increased by 70% in the last 24 hours. The meme coin named Doginme has been the highest rising Base meme coin in the last 1 month. Doginme increased 5300% in 1 month and 200% in the last 1 week.
BRETT, which was released in February and is also the image of the news, is also one of the meme coins released in the Base network… This coin has also risen more than 5500% since the first day it was released (29 February).
Base network is growing
The meme coin craze on the network has attracted a flood of new users. Weekly transactions hit an all-time record of 4.75 million. The 410,000 users coming in weekly was the second largest week in which the most people opened accounts in this sense.
On 19 March, users paid a total of $1.7 million in network payments, 700% more than 24 hours earlier that day.
Dencun helped Base, but…
Analysts say that the introduction of the Dencun update, which significantly reduced transaction fees on Ethereum second layer networks, started the meme coin frenzy on the Base network. The decrease in fees allowed users to act much more freely. However, the huge interest also reduced the effect of Dencun and transaction fees started to increase again.