- The increase in trading volume coincides with the token’s ascent.
- In the last 24 hours, the volume of Brett (BRETT), the biggest meme coin on the Base network, has been surpassed by Bitget’s new meme coin, MOEW.
- MOEW is held in 11,700 separate wallets hours after the release.
Within hours after its release, a meme coin issued by cryptocurrency wallet Bitget saw a more than 14,000% increase in value, reaching a $31 million market cap.
The coin was produced on the Base network and is currently trading at $0.0015 thanks to $34 million in trading activity, according to CoinMarketCap data. Its ticker is MOEW. Basescan reports that MOEW is being held in 11,700 distinct wallets.
During the current airdrop, which is open to users who have enough BWB points for the exchange wallet’s BWB token airdrop, more than 8,000 addresses have received MOEW tokens.
By keeping balances in Bitget Wallet or completing in-app cross-chain swaps, users could accrue BWB points over the course of six weeks. These points can then be exchanged for future BWB tokens in Q2.
As part of the current bull market, the value of both recently created memecoins on Solana and Base and established memecoins like Dogecoin and Shiba Inu has increased dramatically.
One such token, Jeo Boden (BODEN), a Solana memecoin parody of US President Joe Biden, has a market capitalization of more over $250 million.
As it looks to unseat Solana, which has been the main meme blockchain thus far in this bull market cycle, Base is quickly becoming a prominent hub for meme coin traders.
Brett (BRETT), a token based on a character from Matt Furie’s Boy’s Club comic, is the biggest meme currency on Base.
In the last week, Brett’s value has climbed by 89%, and MOEW has already registered twice as much volume as Brett has in the last day.
Since meme coins lack any intrinsic value or practical applications, they are by nature volatile assets. In the last year, a number of meme currencies, such as WIF, have had their market caps rise above $1 billion, while others have crashed to zero as a result of scams.
Disclaimer : This article was created for informational purposes only and should not be taken as investment advice. An asset’s past performance does not predict its future returns. Before making an investment, please conduct your own research, as digital assets like cryptocurrencies are highly risky and volatile financial instruments.
