Amid the dynamic landscape of the cryptocurrency market, meme coins are currently stealing the spotlight with their electrifying momentum. Among these, Base-meme-coins are emerging as the frontrunners, showcasing remarkable growth rates ranging from an impressive 30% to an astonishing 200% in weekly yields. The surge in transactions has propelled the Total Value Locked (TVL) to unprecedented levels, surpassing the $1.16 billion mark, indicative of a robust trend where investors are gravitating towards low-cap coins in pursuit of amplified returns.

The Momentum of BASE-Based Meme Coins

The recent surge in BASE-based meme coins is reshaping the cryptocurrency landscape. Notable tokens such as Degen, Brett, All Your Base, Based Shiba Inu, and Broge have witnessed substantial double-digit growth within a mere week, garnering attention from both investors and traders alike. Intriguingly, this surge coincides with an extraordinary spike in daily transactions on Coinbase's Layer 2 chain, BASE, which recently recorded a record-breaking 2.38 million transactions in a single day.

Impact on BASE’s Total Value Locked (TVL)

The meteoric rise of these meme coins has exerted a significant influence on BASE's Total Value Locked (TVL), catapulting it to a staggering $1.16 billion. This influx of capital into the BASE ecosystem underscores the escalating interest in meme coins and other assets available on the platform, establishing BASE as a pivotal player in the cryptocurrency market. Traders now have an alternative avenue to engage with these digital assets, courtesy of BASE emerging as a compelling option.

Investor Migration Dynamics

With trading volume on Solana's decentralized exchanges witnessing a downturn, investors are redirecting their focus towards Layer 2 chains like BASE. The allure of meme coins anchored on BASE has fueled a surge in daily transactions and trade volume on the platform, reflecting investors' inclination towards fresh opportunities and assets displaying robust growth potential.

NFTs Transition to Meme Coins

An intriguing trend has emerged within the NFT community as attention shifts towards meme coins like DEGEN (Base-based meme coins), Ordinals, Bitcoin, and Farming Blast. This pivot aligns with Coinbase CEO Brian Armstrong's initiation of a soulbound NFT airdrop on Base, hinting at the possibility of a Base token airdrop.

The burgeoning popularity of meme coins within the BASE ecosystem suggests a potential reallocation of funds from NFTs to these meme coins, which could potentially drive prices higher and cement BASE's significance in the cryptocurrency sphere.