give me the latest memecoins launched on base

Answered at Sep 07, 2024

Latest Memecoins Launched on Base Network

Introduction

The Base network, an Ethereum layer-2 solution developed by Coinbase, has emerged as a hotbed for memecoin activity in 2024. This report examines the most recent and notable memecoins launched on the Base network, analyzing their features, market performance, and potential risks.

Key Memecoins on Base

Brett (BRETT)

BRETT has established itself as one of the leading memecoins on the Base network. With a market capitalization exceeding $1 billion, it aims to be the dominant memecoin in the Base ecosystem. The token has gained significant traction due to its strong community engagement and viral marketing strategies.

Degen (DEGEN)

DEGEN has carved out a unique position by integrating with the Farcaster decentralized social media network. This combination of meme appeal and practical utility has contributed to its rapid growth and adoption within the Base community.

Toshi (TOSHI)

TOSHI is another prominent memecoin on the Base network that has shown remarkable growth. While specific details about its market performance are limited, it has garnered attention alongside BRETT and DEGEN as one of the top memecoins to watch in the Base ecosystem.

Base Dawgz (DAWGZ)

Base Dawgz is a newer entrant in the Base memecoin space, positioning itself as a "Base DogeCoin" with multi-chain compatibility. The project has shown strong initial interest, raising over $40,000 in the first few hours of its presale. The token's price began at $0.00479 and is expected to increase throughout the presale period.

Mochi

Mochi is among the best-performing Base memecoins, although detailed information about its specific features and market performance is limited in the provided sources.

Normie

Normie is another memecoin that has gained traction on the Base network. While specific details are scarce, it is mentioned alongside other top-performing Base memecoins.

Doginme

Doginme is listed as one of the best Base meme coins for 2024, indicating its potential for growth and popularity within the ecosystem.

Briun

Briun is another memecoin that has caught the attention of investors on the Base network. Its inclusion in lists of top Base memecoins suggests it has shown promising performance or features.

Market Trends and Ecosystem Growth

The Base network has experienced significant growth, becoming the second-largest Ethereum layer-2 network by Total Value Locked (TVL), with a TVL of approximately $7 billion. This growth is attributed to its efficient transaction processing capabilities and strong developer support.

As of mid-April 2024, the total value locked (TVL) on Base reached a record $1.65 billion, up from $440 million at the start of the year. This surge in activity is largely driven by memecoin trading, with data from DEXScreener showing that all of the top 20 coins by trading volume on Base are memecoins.

Factors Driving Memecoin Popularity on Base

  1. Transaction Speed and Low Fees: Base offers fast transactions with minimal fees, making it ideal for high-frequency trading and viral token exchanges. The network boasts a throughput of around 31 transactions per second (TPS) and average gas fees of approximately $0.10, compared to Ethereum's 15 TPS and gas fees of around $1.

  2. Developer Support: Base provides extensive support for developers, encouraging the creation of diverse and innovative memecoins. Tools like multisender, token launchers, and liquidity lockers enhance the ecosystem, making it easier for new projects to thrive.

  3. Community Engagement: The vibrant community on the Base network is a significant driver of memecoin success. Engaged users promote tokens through social media, increasing visibility and adoption.

  4. Ethereum Dencun Upgrade: The Ethereum Dencun upgrade, which went live on March 13, 2024, slashed fees on layer-2 chains by 10x, shifting some of the frenzy from tokens on other networks to Base Chain.

Risks and Considerations

While the Base memecoin ecosystem shows promising growth, investors should be aware of the following risks:

  1. High Volatility: Memecoins are known for their extreme price fluctuations, which can lead to significant gains or losses in short periods.

  2. Security Vulnerabilities: A recent report found that 91% of tokens launched at the end of March 2024 had vulnerabilities, with one in six Base meme coins of the tracked sample being potential scams.

  3. Presale Rug Pulls: There is a rising trend of presale rug pulls among meme coins, where developers abandon the project after raising funds.

  4. Limited Utility: Many memecoins lack significant real-world utility, which can impact their long-term viability.

  5. Regulatory Uncertainty: The regulatory landscape for memecoins and cryptocurrencies, in general, remains uncertain, which could impact their future adoption and value.

Conclusion

The Base network has quickly become a thriving ecosystem for memecoins, with several tokens showing significant growth and community engagement. While opportunities for high returns exist, investors should approach these investments with caution due to the inherent risks associated with memecoins and the nascent nature of the Base ecosystem.

As the market continues to evolve, it's crucial for investors to conduct thorough research, diversify their portfolios, and only invest what they can afford to lose. The rapid growth of the Base network and its memecoin ecosystem suggests that this trend may continue, but long-term sustainability will depend on factors such as regulatory developments, technological advancements, and broader market conditions.