Normie, a meme token on the BASE blockchain, has experienced a catastrophic decline in value following a significant exploit. Meanwhile, meme coins linked to former President Donald Trump have surged, lifting the overall meme coin sector.

Normie's Drastic Decline

The exploit led to Normie's value plunging by an astounding 99.80%, falling to a mere $0.00008013. At the time of writing, the token is struggling to recover and remains 95% below its pre-exploit price, trading at $0.001903. Initially, Normie’s market value collapsed to below $200,000 from a previous high of $40 million. It has since modestly rebounded to around $1.5 million.

The attacker exploited a vulnerability in Normie's contract, specifically a flaw in its tax mechanism. Utilizing this loophole, they conducted a flash loan attack, significantly depleting the token's value. On-chain analyst Golden Degen revealed that the attacker's wallet was funded through the Secret Network, and they exploited the Normie smart contract's premarket user map. This allowed them to mint and sell tokens without restriction by manipulating their token balance to match that of the team wallet.

In response to the attack, the Normie team took to social media to address the issue and assure holders that they are working on a resolution. They advised against buying any Normie tokens minted by the exploiter. Subsequently, the exploiter contacted the team, offering to return 90% of the exploited Ethereum (ETH) and keep 10% as a bug bounty. The exploiter also stipulated that more than 600 ETH in the dev wallet be used to launch a new token to repay Normie holders.

The Normie team has indicated their willingness to agree with the exploiter’s demands and is considering a relaunch and airdrop for current Normie holders. They are currently deciding whether the airdrop snapshot should be taken just before the exploit or at the moment users were advised to stop buying Normie tokens.

Trump Meme Coins Surge

In stark contrast to Normie’s turmoil, meme coins associated with Donald Trump have shown significant gains. Following Trump’s attendance at the Libertarian National Convention, MAGA (TRUMP) and MAGA VP (MVP) saw their prices surge by 28.9% and 26.1%, respectively, according to CoinGecko data.

At the time of writing, TRUMP is trading at $11.11, having reached a new all-time high of $11.81 during the day. The coin now boasts a market cap of $520 million and a 24-hour trading volume of $15.3 million. Meanwhile, MVP is trading at $0.5501 per token, which is still over 21% below its all-time high. Nonetheless, MVP has achieved a remarkable 145% increase in the past two weeks.

Doland Tremp Joins the Surge

Another Trump-themed meme coin, Doland Tremp (TREMP), also emerged as one of the top gainers, rising by 24.3% to $1.21. TREMP has shown significant growth in tandem with Trump’s campaign efforts and engagement with the crypto community. Over the last 30 days, TREMP's value has soared by 270%.

In summary, while Normie struggles to recover from a severe exploit, Trump-inspired meme coins are experiencing notable gains, reflecting the volatility and unpredictability of the cryptocurrency market.