The meme coin rollercoaster on Coinbase’s Base chain just took another turn.
Brett (BRETT) has tumbled over 10% in the past 24 hours, leaving traders scratching their heads.
But while BRETT investors are feeling the blues, another contender continues to perform well – Base Dawgz (DAWGZ).
BRETT Token Dips, But Is It a Buying Opportunity?
BRETT, the biggest meme coin on the Base chain, has taken a hit in the past day.
It’s now trading at $0.141, a drop of over 10% from yesterday’s high.
BRETT’s drop was even steeper earlier, reaching a 13% decline before a slight recovery.
Trading activity has also cooled.
Spot trading volumes are down 23% to $49.1 million.
This has been triggered by rejecting the $0.158 resistance level, which formed a bearish double-top pattern on the one-hour chart.
However, zooming out paints a different picture.
The daily chart suggests a bull flag may be forming, hinting that BRETT’s dip might be temporary.
This conflicting technical analysis has left traders and analysts divided on the token’s prospects.
As with all meme coins, volatility like this is par for the course.
While some investors are feeling the heat, others are viewing it as a potential buying opportunity before the next leg up.
Base Chain Meme Coin Mania Shows No Signs of Slowing
Despite BRETT’s stumble, the Base chain has been on a tear in 2024.
Coinbase’s layer-2 solution has become a hotbed for crypto activity, with its Total Value Locked (TVL) rocketing to $7.2 billion.
That makes it the second-largest layer-2 network in the world.
But it’s not just about the money that’s locked in.
Base processes transactions at a breakneck speed, leaving even Ethereum in the dust.
We’re talking over 50 million monthly transactions compared to Ethereum’s 37.9 million.
And with Daily Active Users (DAU) consistently topping 500,000, it’s clear that Base isn’t just a flash in the pan.
This explosive growth hasn’t gone unnoticed by meme coin creators.
With its Coinbase pedigree, lightning-fast transactions, and low fees, Base has become the go-to for the next wave of joke tokens.
The success of tokens like BRETT has only fueled further interest and activity on the Base chain.
In fact, at the time of writing, the total market cap of all Base chain meme coins has passed $1.9 billion.
Although BRETT is by far the largest, the conditions are there for another meme coin to reach similar heights.
Base Dawgz Presale Heats Up – Next Big Meme Coin on the Base Chain?
While BRETT’s taking a breather, another dog-themed token is doing well.
Enter Base Dawgz – a new Base meme coin that’s got investors buzzing.
Despite BRETT’s tumble, investors are still piling into Base Dawgz’s presale, which has already fetched $1.9 million in just a few weeks.
So, what’s got everyone so excited about this project?
For starters, DAWGZ isn’t just another no-utility meme coin.
It’s got some serious multi-chain ambitions.
Imagine you’re a DAWGZ holder, but you spot an opportunity to earn a yield on Solana.
That wouldn’t be a problem – with Base Dawgz’s multi-chain architecture, you can bridge from Base to Solana in seconds.
But that’s not all.
Base Dawgz’s team has a clear focus on community, as evidenced by the “Share-to-Earn” program, which rewards people who create and post DAWGZ memes on social media.
There’s even a presale referral scheme that offers a 10% commission (paid in USDT).
And for long-term holders, there’s a staking protocol in the works, promising regular passive income.
However, Base Dawgz is still in its presale phase, so these features aren’t yet accessible.
DAWGZ tokens are available for just $0.00527 each, and purchases are accepted in ETH, SOL, BNB, AVAX, and USDT.
Combine that low price with the growing buzz in the project’s Telegram channel, and there’s a case to be made that DAWGZ could be the next big Base meme coin.
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