<\/p>\n
The memecoin sector has grown 445% in the past 24 hours.<\/p>\n
Move over Solana, it\u2019s time for Base<\/a> to have some fun.<\/p>\n Memecoins are taking hold of Base, the Ethereum Layer 2 network developed by crypto exchange Coinbase. The market capitalization of memecoins on Base grew by 477% to $1.02 billion in the past 24 hours, according to Coingecko. <\/p>\n Solana memecoins\u2019 market cap is up 17% to $6.4 billion, while the broader Meme category is up 12% to $62 billion, in the same time.<\/p>\n Top performing tokens are Briun Armstrung, named in reference to Coinbase\u2019s CEO and founder, Brian Armstrong<\/a>. The token jumped 25% to $0.02 today, gaining a whopping 362% in the past seven days. Tokens with mis-spellled celebrity names took off on Solana, with Jeo Boden, and Doland Tremp rising to become two of the most popular examples.<\/p>\n <\/p>\n Degen is today’s biggest winner on the Base network, notching a 52% gain on the day, trading for $0.01. Its market cap sits at $213 million. Based Chad and doginme round out the top 3, up more than 40% and 50%, respectively.<\/p>\n Base is enjoying an explosive<\/a> March, likely due<\/a> to memecoin trading and bots. Weekly transactions reached an all-time high last week, with 4.75 million transactions, as did new user count, which notched its second biggest week, adding 409,359 signups, according to a Dune dashboard<\/a>.<\/p>\n Total value locked on Base has also gone vertical, nearly doubling to $939 million from $477 million on Feb. 29 , as per data from DefiLlama<\/a>.<\/p>\n Fees on Base are spiking, however. Revenue peaked on March 19 as traders paid $1.67 million to the network, a near 700% increase from the day before. Transaction costs dropped today to $921,000.<\/p>\n Base creator, Jesse Pollak, posted<\/a> on X the reasons behind the surge. After Ethereum\u2019s latest upgrade, Dencun<\/a>, went live on March 3, transaction costs plummeted on Layer 2s, right as memecoin season kicked off.<\/p>\n <\/p>\n Start for free<\/a><\/div>\n <\/p>\n The Dencun upgrade and its subsequent lower fees prompted more users to use Base, which piqued demand, leading to above-target blocks, said Pollak.<\/p>\n But the company is making moves to help assuage high costs. Base is preparing to raise the network’s gas target by 2-3 times, along with testing a parallel pathing work that will aim to achieve the company\u2019s medium term gas goal.<\/p>\n According to crypto trader Miles Deutscher, degen traders are flocking to Base.<\/p>\n \u201cThe Solana > Base rotation is underway,\u201d he posted<\/a> on X on March 24, adding a photo of a dashboard with memecoins that have pumped tens of thousands of percentage points.<\/p>\n Memecoins have been the talk of the town in crypto in the past few months. Most of the frenzy has taken place on Solana<\/a>, with users posting on Twitter lifechanging gains<\/a>. The lighthearted ecosystem took a turn last week as traders launched a plethora of racist<\/a> tokens.<\/p>\n If degens can expect a similar scenario to take place on Base as it did on Solana, then wild times await.<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":" The memecoin sector has grown 445% in the past 24 hours. Move over Solana, it\u2019s time for Base to have some fun. Memecoins are taking hold of Base, the Ethereum Layer 2 network developed by crypto exchange Coinbase. The market capitalization of memecoins on Base grew by 477% to $1.02 billion in the past 24 […]<\/p>\n","protected":false},"author":2,"featured_media":271457,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[6],"tags":[274,273,272,244,266,271,268,270,269,267],"class_list":["post-271456","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-de-fi","tag-crypto-finance","tag-decentralized-finance","tag-liquidity","tag-metamask","tag-pancake","tag-slippage","tag-sushiswap","tag-tronlink","tag-trust-wallet","tag-uniswap"],"_links":{"self":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/271456","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/comments?post=271456"}],"version-history":[{"count":2,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/271456\/revisions"}],"predecessor-version":[{"id":271463,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/271456\/revisions\/271463"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media\/271457"}],"wp:attachment":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media?parent=271456"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/categories?post=271456"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/tags?post=271456"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}Base Fees Spike<\/h2>\n
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Solana\/Base Rotation<\/h2>\n