Memecoin fever, MOEW token increased 15,000%
Amid the memecoin craze that is taking the cryptocurrency market by storm, crypto wallet Bitget has joined the hype by launching a new token on the Base network called MOEW.
The rookie jumped nearly 15,000% to a $31 million market cap hours after being released on April 3 and is currently trading at $0.0013 with a trading volume of 56.2 million USD.
As of now, the new memecoin has 10,365 holders with a maximum total supply of 10 billion tokens.
Bitget's wallet team emphasized at the time of launching memecoin:
“It's all for entertainment purposes only. We wanted to see how strong the meme was.”
Base is quickly emerging as a top destination for memecoin traders after stealing the spotlight from Solana, which was the main blockchain for memecoins during this bull market cycle.
The largest memecoin on Base is Brett (BRETT), a token based on the comic book character Matt Furie’s Boy’s club. Brett has increased in value by 89% over the past week, while MOEW has recorded double the volume that Brett has achieved in the past 24 hours.
Memecoins are by their nature extremely volatile assets as they have no underlying value or utility. Some memecoins like WIF have achieved market capitalizations of over $1 billion over the past year, while many other tokens have dropped to zero amid widespread carpet pulling.
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