BASE Blockchain Rises Amid Memecoin Market Surge
### Key Takeaways
– Coinbase’s BASE blockchain is experiencing a surge in network activity, driven largely by the success of memecoins.
– Memecoins like Ski Mask Dog (SKI) and Mister Miggles (MIGGLES) are showing impressive growth, while others like BRETT are under pressure.
– BASE could become a serious competitor to Solana in the memecoin sector.
– Even established memecoins like Dogecoin (DOGE) and Shiba Inu (SHIB) are currently struggling with price declines.
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BASE Blockchain: A New Player in the Memecoin Market
The BASE blockchain, developed by Coinbase, has emerged in recent weeks as a rising competitor in the memecoin space. On November 26, 2024, the platform recorded an impressive 11.4 million daily transactions. The number of active addresses also grew significantly during this period.
A major driver of this growth is the increasing popularity of memecoins built on the BASE blockchain. According to CoinGecko, the trading volume of these coins reached $546 million USD in the past 24 hours.
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Top Performers Among BASE Memecoins
Ski Mask Dog (SKI) stood out in particular: the coin increased its value by more than 500% within a week, reaching a market capitalization of $126 million USD. Mister Miggles (MIGGLES) also demonstrated strong performance, with a daily price increase of 30%.
###
BRETT: A Setback Despite Potential
BRETT, the leading memecoin on the BASE blockchain, has not been able to benefit from this trend. Its price fell by 9% in the past 24 hours. Technical indicators such as the Relative Strength Index (RSI) suggest increased selling pressure.
However, the Chaikin Money Flow (CMF) indicates that capital is still flowing into the coin. This could signal a potential trend reversal in the coming days.
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The Competition: DOGE and SHIB Under Pressure
Not only BRETT but also established memecoins like Dogecoin (DOGE) and Shiba Inu (SHIB) have faced losses. DOGE recorded a 4% decline within 24 hours, while SHIB fell by 3% despite showing over 10% weekly growth.
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Our Assessment
The BASE blockchain is clearly making strides in the memecoin sector. With strong network growth and successful coins like SKI and MIGGLES, BASE could become a serious alternative to Solana and other platforms in the long term.
However, volatility remains a risk. Coins like BRETT demonstrate that not all projects benefit from the rising popularity. Investors in memecoins should be aware of the high fluctuations and make well-informed decisions.
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