Original author: Nancy, PANews
MEME has become one of the important weights in the competition of mainstream public chains, especially Ethereum and Solana, which occupy the main market share and are also the key positions for players to participate. At present, Base's MEME track seems to be on the rise.
In the past few days, the MEME project Mister Miggles on Base has topped the Base hot search list with a maximum increase of more than 900 times in the three days since its launch. The reason behind this is inseparable from the promotion of Coinbase and the popularity of the cat theme.
The trends of popular projects are often the focus of investors. In the early morning of July 17, Coinbase officially released a tweet preview of "7.17.24" with a short cat video, implying that important information would be released. Subsequently, market funds followed suit and launched related MEME tokens, but failed to attract much market attention.
That evening, Coinbase officially released a one-minute short film, which mainly tells the story of a cat named "Mister Miggles" who went viral and appeared in various places and even evolved into a MEME after a photo was liked. Coinbase cast Mister Miggles content into NFT to celebrate the future of the Internet. At the same time, Coinbase also launched the "Onchain Summer" theme event to encourage creators to start projects in an on-chain form to gain more control, fairness and benefits. Coinbase will also use all proceeds to support the Emerging Creators Fund.
As of the time of writing, Mister Miggles NFT has been minted over 55,000 times, with over 29,000 holders, and the promotional video of Mister Miggles has received over 380 views. At the same time, because "Onchain Summer" encourages users to use Mister Miggles for secondary creation, the community has also produced a lot of related MEMEs, many of which have been minted thousands of times.
Mister Miggles
After this tweet was released, the derived MEME coin $MIGGLES attracted the attention of market funds. Ten hours after Coinbase released the video, Base founder Jesse Pollak brought more popularity to $MIGGLES. He spent 0.3 ETH to buy $MIGGLES and tweeted "GASLESS MIGGLES". Jesse Pollak also retweeted Mister Miggles related MEMEs many times afterwards.
DEX Screener data shows that in just 3 days after the launch, $MIGGLES has increased by more than 939 times, and its market value has exceeded 73 million US dollars. The surge in $MIGGLES has also made some investors profitable. For example, according to the monitoring of on-chain analyst @ai_ 9684 xtpa, the smart money 0x B 98...ED 7 dA traded MIGGLES with a return rate of up to 6258%. After the token was launched, the smart money spent 2.6 ETH to buy 19.13 million MIGGLES at an average price of 0.00047 US dollars. At present, the address has sold 75% of its holdings for a profit of 279,000 US dollars, and still holds 4.64 million MIGGLES.
Currently, cat-themed MEME projects have become the focus of market hype, but it remains to be seen whether Base can continue to capture more MEME traffic with the help of the story of Mister Miggles.