Author: Wenser, Odaily Planet Daily
In the early morning of June 7th, Beijing time, the Base Meme Online Summit came to an end. As a small-scale Base ecosystem Meme coin project exchange meeting, Base protocol leader Jesse Pollak issued a new call at the meeting: calling on a Meme coin project to lead 10,000 new users into the Base ecosystem. It can be seen that Meme coin is still a sector that the Base ecosystem has high hopes for, and Base's current TVL of nearly US$8 billion and its ranking second in L2 network TVL are also due to this achievement.
As Base is about to celebrate the first anniversary of its mainnet launch, Odaily Planet Daily will briefly introduce and analyze the Base Meme coin ecosystem in conjunction with the Base Meme Summit.
Base Meme coin history: One person is an army
According to the latest data from Coingecko, the current total market value of Base Meme coins is about 2.27 billion US dollars, which is about 25% of the total TVL of the Base ecosystem. Of course, this data has certain errors, because, firstly, the data only calculates the liquid market value of 64 Base ecosystem tokens, and nearly half of the projects have almost zero liquidity and the market value data is missing; secondly, this data does not include the Meme coin chain projects that have emerged one after another in the Base ecosystem, so it is only for reference.
But from this data we can also see that Meme coin has become a major focus of the Base ecosystem, and this is inseparable from the contributions and construction of many key figures.
Coingecko page information
Jesse Pollak: Promoting the construction of Base ecosystem with his own efforts
If we were to name the person who has contributed the most to the development of the Base ecosystem, it would be none other than Jesse Pollak, the person in charge.
As one of the "Seven Key Figures of Coinbase" selected by Forbes, Jesse Pollak was originally just an engineer at this well-known exchange, but the successful experience he accumulated in the process of building consumer products laid a solid foundation for his subsequent management of Base, a key L2 network under Coinbase.
In the article "Uncovering Coinbase's Star Engineer Jesse Pollak: How was the Base chain born?", we can also learn that the birth and gradual implementation of Base are inseparable from Jesse's promotion and continuous contribution:
In February 2023, the Base testnet was officially launched;
In August 2023, the Base mainnet was officially launched. At the same time, Friend.tech became the popular SocialFi application that ignited the entire crypto world at that time;
In October 2023, the social protocol Farcaster was officially launched on the Base ecosystem and began to generate protocol revenue, and in the following months it became a strong growth point for the Base ecosystem.
In March 2024, following the Meme coin craze in the Solana ecosystem, the Base ecosystem also became a popular base for Meme coin projects due to its low-cost advantage.
Behind these key events, Jesse is always the one who waves the flag and shouts everywhere. His support for the Base ecosystem, including Meme coins, NFTs, and various on-chain applications and crypto projects, is obvious to all. He not only participates in person, but also supports high-quality projects as much as possible. As early as 2023, he was deceived by Rug for purchasing Meme coin projects. As the person in charge of the Base protocol, he not only has the keen sense of smell and logical thinking of an engineer, but also has great personal charm, is passionate in speaking to the outside world, and firmly believes in the vision of "Onchain is the Next Online".
It can be said that the development of Base's Meme coin ecosystem is also deeply influenced by Jesse - focusing on the community, calling for creation, valuing equality, and solidarity and cooperation. Of course, he is also well aware of the importance of the ability to liven up and the Meme attributes of Meme coin projects, so he once declared that "when the TVL of the Base ecosystem exceeds 10 billion US dollars, I will shave my head (Go Bald)" (influenced by the fact that Coinbase CEO Brain Amstrong himself is a bald head, Bald is a "hot topic" in the Base ecosystem).
TYBG: A Meme Coin Started by One Person
In addition to Jesse, the meme coin project TYBG, which directly uses the image of Coinbase CEO Brain Amstrong as its bullet point, also started out as "one person is an army."
At the Base Meme Summit, the founder of TYBG admitted that when the project was just starting in December last year, he was the only one involved. With the gradual development and prosperity of the Base ecosystem, the TYBG community has gradually welcomed more members to join. His experience as a single person in the early days of the project has also benefited him a lot, and he has also felt the unique charm of the Meme coin project and its distinctive development path from his own experience.
Looking at other well-known Meme coin projects in the Base ecosystem, such as TOSHI, MOCHI, AYB, DEGEN, etc., the projects were initially created out of the trust of a very small number of people in Coinbase, the Base ecosystem and Meme, and have come to where they are today step by step. It can be said that Meme coin has given many ordinary people a stage to display their talents, find like-minded people and unleash their creativity.
After more than half a year of development, the Base ecosystem Meme coin has achieved rapid growth at a pace unique to the cryptocurrency industry, and its development pattern is completely different from the state when few people were interested in it last year.
Base Meme coin new pattern: one superpower and many strong ones + blooming everywhere
If we say that in the past, there were relatively few outstanding players in the Base ecosystem Meme coin projects, after about 3 months of "survival of the fittest", today's Base Meme coin landscape has entered a stage of "one super, many strong + blooming everywhere".
We have mentioned some of the top + popular projects before. At present, the market value of BRETT has exceeded 1 billion US dollars and has entered the "Meme coin stage of maturity"; the market value of several other projects such as DEGEN, TYBG, and TOSHI has also gradually stabilized. Only NORMIE has been attacked by flash loans and its market value is close to zero. Although it has recently released the latest tokens and refunded them, its momentum is not as good as before. The following is an introduction to the main project information:
Base Meme Coin Market Cap Ranking
Super Meme: BRETT
As mentioned earlier, the meme was inspired by one of the four characters in Matt Fury's famous comic book series "Boy's Club", and is a friend of the famous meme image Pepe. Two months later, BRETT's market value is close to 1.4 billion US dollars, the price is 0.1748 US dollars, the market value ranks 69th, and the 24-hour increase is 28.6%.
It has to be said that Pepe-related Meme coins are so powerful that a "Pepe friend concept" has firmly established itself as the top Meme coin in the Base ecosystem.
多强：DEGEN、TOSHI、KEYCAT、MFER、TYBG、MOCHI
The remaining meme projects that have gradually entered a stable development period are mainly Farcaster ecological token DEGEN, cat-themed meme coins TOSHI, KEYCAT, MOCHI, and MFER (Mfercoin) issued by NFT artist Sartoshi.
The total amount of DEGEN is 37 billion, and the current circulation is about 12.4 billion. The price is $0.022, the circulation market value is $280 million, the overall market value is $830 million, and the 24-hour decline is about 8.2%;
The total amount of TOSHI is 420.69 billion, all of which are currently in circulation, with a price of $0.0005, a circulating market value (total market value) of $216 million, and a 24-hour increase of 19.8%;
The total amount of KEYCAT is 10 billion, all of which are currently in circulation, with a price of $0.006, a circulating market value (total market value) of $63 million, and a 24-hour decline of 0.7%;
The total amount of MFER is 1 billion, all of which are currently in circulation, with a price of $0.046, a circulating market value (total market value) of $46 million, and a 24-hour drop of 10.7%;
The total amount of TYBG is 125 billion, 2 billion have been destroyed, the total circulation is 123 billion, the price is 0.00025 USD, the total market value is 31 million USD, and the 24-hour increase is 4.9%;
The total amount of MOCHI is 1 trillion, all of which are currently in circulation. The price is $0.000029, the circulating market value (total market value) is $29 million, and the 24-hour drop is 12.2%.
Blooming everywhere: DOGINME, HIGHER, CHOMP
At the Base Meme Summit, in addition to the already famous Meme coin projects, a number of new Meme coin projects in the Base ecosystem also took the stage as "sponsors + questioners."
Among them, DOGINME, as a "sports + ecological meme", currently ranks among the top with a market value of 28 million US dollars; HIGHER has been recognized by the entire Base ecosystem, and Jesse himself has called for it many times, hoping that the Base ecosystem and various projects within the ecosystem can be "Higher and Higher". It is currently ranked second with a market value of 27 million US dollars; CHOMP is a meme coin project with a cartoon dog image, and currently ranks 994th in the cryptocurrency market value ranking with a market value of 26 million US dollars.
Of course, there are many potential Meme coin projects emerging on the Base chain every moment. For example, the MOTHER token of the Solana ecosystem has gradually broken through the circle and become one of the phenomenal Meme coins. The Meme coin of the same name in the Base ecosystem is also surging. For details, please refer to the Base chain token interface of platforms such as Dexscreener to discover the next potential golden dog.
Base Meme Summit Sponsored Project List
Base Meme coin development: Whoever controls the community owns the future
At the Base Meme Summit which ended at 2 a.m. today, personnel from several relatively mature Meme projects asked questions, answered questions and discussed topics such as the development of Base Meme coin. After watching the entire Meme Summit, my feeling is that Meme coin has gradually become a "startup experimental field" for the new generation of young people.
Meme coin is the new era of "Internet application"
Different from the "Internet wave" led by previous Internet technology companies, with the development of the cryptocurrency industry and the gradual penetration and deepening of cryptocurrency on the entire society, the Web3 industry including DeFi, SocialFi, GameFi, NFT, DAO, Infra, public chain, L2, BTC ecology, AI, DePIN, RWA and other sub-fields has gradually become a new "entrepreneurship front".
The Meme coin project may be the most attractive choice for young people. Whether you are a novice entering the cryptocurrency industry or an experienced person, you can buy a Meme coin, join the community building, or experience the ups and downs of prices. You can also start your own "Meme coin entrepreneurial project" based on some fun and interesting Memes or symbols that interest you. By creating a successful Meme coin project and becoming a "Meme coin entrepreneur," you may become an important role in leading social and cultural trends, similar to rock musicians, rappers, and literary writers.
Of course, as the TYBG project manager mentioned at the summit, before starting a project, whether it is Meme coin or anything else, it is best to talk to a lawyer first to avoid violating the laws and regulations of some regions without knowing it.
Meme Coin Success Guide: Attention Economy, Content Driven and Community is King
At the Base Meme Summit, there was a lot of discussion about the issuance method of Meme coins, project development, and how to lead more people into the "on-chain world". In summary, the focus lies on 3 keywords:
Attention economy: This is the natural attribute of Meme coin and an essential part of the project operation. The same is true for the entire cryptocurrency industry. The difference is that with the help of the dissemination power of Meme, Meme coin can achieve a wider range of dissemination and promotion, achieving the leverage effect of "a little effort to achieve a great result".
Content-driven: This is also the personal experience and experience of many project practitioners including MOCHI, AYB, DEGEN, and TYBG. It is also based on the premise of the attention economy, and an aspect that the Meme coin project must do well. Because only those projects that can produce creative content and interesting and fun content can attract more people's attention and further fission propagation and diffusion, and then find more builders and holders for the development of the project. Jack from the DEGEN community believes that the Meme coin project should learn about content dissemination and other aspects from successful consumer applications such as Tik Tok and Instagram to help their own projects grow.
Community is king: The development history of the Base ecosystem and many Meme coins are excellent examples of this. Only projects that value the community can have a place in the market. Of course, this also involves the issue of "expectation management" mentioned by Coco of MOCHI in his sharing. "When the token price rises, people are very happy; when the token price falls, people will be very unhappy and even angry." This is a great test of the project party and the community manager's ability to effectively manage the community's expectations. When to say what news is very important for many Web3 projects, including Meme coins.
Summary: Besides price and community, what else should we look at for Base Meme Coin?
In addition to price and community, there is another major influencing factor for the Meme coin of the Base ecosystem, which is Coinbase. This is both a "good thing" that many people are looking forward to, and also a "hope" that many people are eagerly looking forward to.
It should be noted that Aerodrome, the leading DEX project in the Base ecosystem, was previously affected by a series of operations such as Coinbase launching its native token AERO and the Base ecosystem fund led by Coinbase Ventures investing in Aerodrome. The coin price once rose to around US$2, an increase of nearly 50 times compared to the low point.
Therefore, after the market value of BRETT exceeds 1 billion, the next "crown" that the next Base ecosystem Meme coin will compete to win may be the achievement of "listing on Coinbase".
After the Base Meme Summit, the Meme coin of the Base ecosystem may also enter the second half - jointly building an "Onchain Society" with the great vision of "leading 1 billion users into the on-chain world". The realization of this vision is absolutely inseparable from the support of one unique and distinctive Meme coin project after another.
Source: Interpreting Based Memes and Based Institute: Where is the future of the Base ecosystem?
