Last month, an unprecedented meme craze broke out on the Solana public chain. Many project developers, artists and even KOLs participated in the Solana ecosystem to issue meme tokens. This phenomenon was quickly eliminated as the price of the meme currency on Solana collapsed. Replaced by Base ecology. The meme coins in this round of Base ecology are different from the memes in the last round of Solana ecology.
Recently, as the Base ecosystem continues to prosper, the hype of "meme hot money" is gradually penetrating into the "Coinbase system" ecosystem such as Zora and Degen. On the Base social platform Warpcast, the meme tokens of Zora and Degen Chain have become popular targets of speculation.
According to official news, on March 28, the Meme project Degen in the Base ecosystem announced the launch of the low-cost Layer 3 blockchain Degen Chain. The network uses Arbitrum Orbit and AnyTrust DA technologies, and the settlement layer is Base. The native Gas token of Degen Chain is DEGEN. Syndicate becomes Degen Chain’s Layer 3 infrastructure partner. As the news broke, the price of DEGEN increased by 37% in 24 hours and is now quoted at $0.02035, setting another all-time high.
In the following days, DEGEN continued to rise. On April 1, DEGEN briefly exceeded $0.06, achieving another 3-fold increase compared to a week ago. What followed was a wave of hype for the Degen Chain ecosystem. During the weekend, tokens in the Degen Chain ecosystem generally rose. Among them, the token DSWAP of the DEX platform DegenSwap in the Degen ecosystem rose by 465% in 24 hours, the Meme token DINU rose by 194%, and PURP rose by 67%. . According to data from Dexscreener, Degen Chain has achieved a daily trading volume of more than 80 million US dollars in less than a week since its launch, and the number of transactions reached 270,000 within 24 hours.
Compared to the crude meme ecological gameplay of the solana ecosystem, such as transferring money, issuing coins, and trading, the memes on the Base ecosystem not only imitate the issuance method of meme coins on the sol ecosystem, but also have made considerable innovations in the ecosystem, giving memes practicality to break through their own valuation ceiling. In fact, this kind of approach has been tried on the early meme coin shiba, and it is nothing new, but thanks to the strong consensus of the base chain, the market is still more accepting of this narrative.
As more and more project parties enter the Base chain to start meme businesses, we expect that some new meme coins will appear on the Base chain in the future, rather than just a rotation of hot money sectors.
