The post BASE chain memecoins surge: Is a new ‘Solana killer’ here? appeared on BitcoinEthereumNews.com.

Ski Mask Dog registered a 500% growth over the last seven days.  BRETT, the most popular BASE memecoin, witnessed a price correction.  Solana [SOL] has been long known for its dominance in the memecoin sector, but now there is a new competitor. Coinbase’s BASE blockchain has joined the memecoin frenzy, with robust network activity backing it. This allowed several small-cap memes to flourish and even outshine top memecoins by huge margins.  BASE chain memecoins take the cake! BASE has been witnessing a substantial surge in its network activity. As per Artemis’ data, BASE’s daily transactions skyrocketed to reach 11.4 million on the 26th of November. The blockchain’s active addresses followed a similar trend.  Source: Artemis A major reason behind this could be the emergence of multiple memecoins on the blockchain. CoinGecko’s data revealed that BASE chain-based memecoins reached a trading volume of $546 million in the last 24 hours alone. While some memecoins registered meteoric growth last week, others failed to do so. Mentioning BASE blockchain’s memecoins, Ski Mask Dog [SKI] was one of the top performers as its value increased by more than 500% last week, pushing its market capitalization to $126 million. Apart from Ski Mask Dog, Mister Miggles [MIGGLES] also performed well with its 30% daily price rise.  Source: CoinGecko However, BRETT, the top BASE memecoin in terms of market cap, failed to capitalize this trend. As per CoinGecko, the coin’s price fell by 9% in the last 24 hour. At press time, BRETT’s price touched the upper limit of the Bollinger Bands. This is often followed by price drops. Its Relative Strength Index (RSI) also dropped, signaling a rise in selling pressure. Nonetheless, the technical indicator Chaikin Money Flow (CMF) had a different reading. The indicator moved upward — a sign of more money flowing into…

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Filed under: News - @ December 2, 2024 11:27 pm