Memecoins
Major commodity meme coins are targeting a $1 billion market capitalization by July
THE total value locked (TVL) in the Base network hit an all-time high on June 8, prompting investors to search for the top basic meme coins buy. This coincided with an increase in the number of transactions, as activity on the network increased.
Despite these positive DefiLlama statistics, Base remains one of the least explored L2 networks. To take full advantage of this untapped network, here are the 4 best basic meme coins to buy for 100X earnings.
1. Basic meme coins to buy – Brett (BRETT)
Brett he presents himself as PEPE’s best friend on BASE and, at the same time, as the network’s mascot. The project was hugely successful reaching a market capitalization of $1 billion in three months.
85% of the 10 billion supply has been locked in liquidity for 1 year with the cancellation of the contract. Furthermore, Brett is the largest meme base coin with a market capitalization of over $1.3 billion.
Brett’s price is trading at $0.130, having gained 126% in the last 30 days. Brett reached its all-time high of $0.1933 on June 10 and is in a small retracement with further upside in sight.
BRETT’s 24-hour trading volume increased by 43%, signaling increased investor interest. BRETT is likely to find support around the $714 million market cap level before moving higher.
Most recently Brett has partnered with Devour, a Web3 food delivery company, following free listings on multiple tier 1 and tier 2 cryptocurrency exchanges.
2. Degen (Basic) (DEGEN)
Degeneration (basic) is an unofficial token sent to users of Farcaster, a decentralized social network. The asset has amassed a growing number of followers from developers and the crypto community at large. Ultimately, 70% of the token supply will be sent to the community, with 15% of the allocation already distributed to Farcaster users.
The price of DEGEN between mid-March and April, rising to its all-time high of $0.056. The meme coin also reached the $204 million market during that period before starting to retrace.
Although DEGEN’s 24-hour trading volume increased by 17%, the price fell by 13% in the same period. DEGEN has a current market cap of $104 million, but could continue to fall and find support around $62 million if the $100 million support does not hold. Degen is listed on Uphold, one of the most secure and well-integrated cryptocurrency exchanges in the industry.
3. Basenji (BENJI)
Basenji it presents itself as the dog of the Base chain. The main character of the Basenji meme coin is the Basenji dog breed popular in ancient Egypt that helped them track and hunt game in the desert. BENJI, the main token behind Basenji, has a total supply of 1 billion with 0% fees. He renounces the contract and burns the liquidity.
According to the official Basenji website, the project has received a BBB rating from Certificate, a popular blockchain security and auditing company. The report describes Basenji strengths as related to governance and community.
BENJI price has fallen 13% in the past week and another 22% in the past 24 hours, settling at $0.05. However, BENJI’s 24-hour trading volume increased by 57%, indicating increased investor interest. Considering Basenji’s well-organized thesis and community governance, the project is one of the best basic meme coins to buy.
BENJI’s current market capitalization stands at $52 million, down from $98 million on June 10. The project is currently in a downtrend, but there is support of a market cap of around $40 million. Below that, BENJI could drop to $20 million, where the strongest support currently exists.
4. Toshi (TOSHI)
Toshi boasts the second largest base meme coin by market capitalization according to CoinGecko. The crypto project is modeled after the cat narrative but with some utility.
The Toshi team is building web3 tools to help cryptocurrency developers build. Some of the tools include a multi-sender, a token locker, a liquidity locker, a DEX, a token launcher, and a launchpad.
Each of these tools has a specific feature designed to allow blockchain developers to easily deploy decentralized applications and protocols (dApps). The name “Toshi” was also inspired by the name of Brian Armstrong’s cat, “Satoshi Nakamoto”.
With a market cap of $106 million, Toshi looks like an early stage project with a real use case. TOSHI price was hovering around $0.00024 at the time of writing, a decline of 14.5% in the last 24 hours.
Early investors gained 1,314,870% (13,148X) if they bought at the all-time low 9 months ago. The next nine months could prove profitable for investors who put some Toshi into the stock market now.
Conclusion
As the youngest L2 blockchain, BASE is holding up well, surpassing $1.3 billion in TVL. Basic meme coins like Degen, Toshi and Basenji could be Pepe and Bonk of the Base L2 network in 6 months. Work is underway to build a cheaper and faster bridge from the Ethereum mainnet Aviatora development that could push Base volume, TVL and ultimately meme coins onto the network.
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