Memecoins
Core meme coins are posting double-digit gains and are at the top of other crypto sectors
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Meme coins used on Base have increased by 13% in the last 24 hours and are the cryptocurrency sector with the highest price jump in this period, second to data aggregator CoinGecko. This is also the sector that has recorded the best performance in the last seven days, recording an increase of almost 52%.
The Degen POV token (POV) is the main force driving the rise of Base meme coins, up 84.5% in the last 24 hours and more than 200% in the last week. Additionally, Base’s famous blue cat Brett (BRETT) is up nearly 28% in the daily period.
Since the beginning of May, the blue dinosaur Broge has seen a gradual upward movement, recording an intraday surge of almost 35%. CONDO, which showed a sharp drop in prices on June 4, appears to be recovering after recording a daily increase of 18%.
Basenji (BENJI), Long (LONG), and Ski Mask Dog (SKI) round out the double-digit gains in the Base meme coin ecosystem, with growth of 18.7%, 11.7%, and 10.8%, respectively.
Additionally, the Base ecosystem as a whole is thriving. Total value locked (TVL) on Coinbase’s layer-2 blockchain recently reached an all-time high of $1.77 billion, and on-chain trading volume stood at nearly $12 billion in May.
Is the summer of meme coins coming?
AS reported By Crypto Briefing, cryptocurrency industry players are expecting a “bright June,” fueled by recent spot approvals of Ethereum Exchange Traded Funds (ETFs) in the United States and the prospect of rate cuts from the European Central Bank and the Fed.
Among industry experts predicting a strong finish to the second quarter, James Davies, co-founder and CPO of Crypto Valley Exchange, expects a “meme coin summer” soon.
“We expect a summer containing a meme coin pump similar to the NFT summer of 2021. As a result, we will likely see some retail money temporarily withdraw from other high-yielding projects,” Davies explained.
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