As an analyst with a background in blockchain technology and meme coin trading, I find the recent surge of BRETT and newcomer Base Dawgz on the Base blockchain quite intriguing. Based on my analysis of the data provided, it seems that both tokens are experiencing significant momentum and interest from the community.
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.
Following closely behind, upstart company Base Dawgz (DAWGZ) has generated significant buzz, amassing over $2 million in investments since the launch of their Initial Coin Offering (ICO) earlier this 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.
This afternoon, the price of the token reached a peak of $0.162 before experiencing a slight retreat, indicating its capability for significant growth.
All of this bullishness came after BRETT rejected the $0.130 support level.
As a researcher observing the situation, I’ve noticed that the rejections we’ve encountered have led to a deceleration in progress. This could indicate that the initial fervor and enthusiasm may be waning.
Zooming out, BRETT is still stuck in a range on the higher timeframes.
On the 4-hour timeframe, the token’s price wavers between staying above and dropping below its 50-day exponential moving average (EMA), reflecting its uncertainty.
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.
It’s not just BRETT making waves on the Base blockchain.
The entire market for meme coins based on the Binance Smart Chain, such as Baby Doge Coin and SafeMoon, has experienced significant growth. The combined value of these coins has increased by approximately 10% within the last 24 hours, surpassing $2 billion.
Trading volumes are also on the up – now at $140 million.
As a new crypto investor, I’ve noticed that Brett, Degan, and Toshi have been leading the discussions in the community. However, I’m excited to see that new investors are starting to make their presence felt and contribute valuable insights as well.
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?
As a analyst, I would express it this way: In the beginning, Base’s layer-2 solution provides significantly reduced transaction fees in comparison to Ethereum‘s mainnet.
Developers and traders find this an alluring platform due to the surging interest in meme coins, providing ample opportunities for them to profit.
With our current user base of over 500,000 daily active users expanding, the potential for viral growth becomes even more promising.
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.
Alongside BRETT, another Base meme coin is making headlines this week.
As an analyst, I’m thrilled to report that I’ve recently observed Base Dawgz surpassing the $2 million mark during their Initial Coin Offering (ICO). This significant achievement underscores the strong appetite among retail investors for this project.
Importantly, the buzz around Base Dawgz isn’t just because of its ICO success.
Social media buzzes with discussions on this meme coin as its Twitter account gains a following of 4,000 people.
Most of the excitement is about DAWGZ’s multi-chain capabilities.
Picture this scenario: You purchase DAWGZ tokens from the Base platform in a jiffy. Next, you effortlessly shift those tokens over to the Ethereum network to capitalize on a fresh DeFi prospect. Afterward, without missing a beat, you dash over to the Solana network to engage in trading activities.
This is what the Base Dawgz developers have in mind.
Adding to the buzz is the project’s Share-to-Earn protocol.
Making memes using DAWGZ as a theme has become a profitable pastime, where individuals can accumulate points by producing and disseminating such content within the community.
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.”
As a crypto investor, I believe that as the Base ecosystem expands, meme coins such as Base Dawgz have great potential to thrive and gain value from the growth.
It’s unclear if DAWGZ will become the next successful act like BRETT, but they’re definitely checking off all the necessary requirements.
Read More
- CORE PREDICTION. CORE cryptocurrency
- Top gainers and losers
- SYS PREDICTION. SYS cryptocurrency
- KUNCI PREDICTION. KUNCI cryptocurrency
- BTC PREDICTION. BTC cryptocurrency
- CFG PREDICTION. CFG cryptocurrency
- Best coins for today
- DOGE PREDICTION. DOGE cryptocurrency
- THOR PREDICTION. THOR cryptocurrency
- STFX PREDICTION. STFX cryptocurrency
2024-06-25 16:53