Coinbase-Base Meme Coin Rollercoaster: Whales Pocket $666K as Token Crashes 95%

The ’Base is for everyone’ meme coin, initially linked to a Coinbase-Base promotion, saw a meteoric rise to a $17M market cap before collapsing 95%. Whales capitalized on the hype, securing $666K in profits through strategic buys and sells. Base later clarified the token was an unofficial experiment, distancing itself from the project.

Base Meme Coin’s Rise and Fall: Whales Make $666K Profit

The ’Base is for everyone’ meme coin surged to a market cap of $17 million before crashing 95%. The coin, initially marketed as part of a Base promotion, attracted considerable attention. Whale wallets made profits of up to $666K by purchasing large token amounts before official announcements and selling later. Base clarified that the coin was an experimental, unregistered offering and had no official involvement in sales.

Base ‘content coin’ Experiences Volatile Launch

Coinbase’s Base team launched two tokens on Wednesday afternoon, one of which quickly spiked 962% in price before abruptly crashing. This sparked allegations of it being a scam or rugpull, and a crypto wallet even labeled the token as such. However, by Thursday morning, the token’s price had begun to rise again, reaching a 350% pump. This volatile launch is a reminder of the unpredictable nature of the cryptocurrency market.