The crypto market is on the cusp of a major bull run and Base meme coins are front and centre.
Smart money investors have identified that meme tokens on Base are highly undervalued. Only one coin – Brett – has a market capitalization north of $1 billion and just one other token has a valuation of $100 million.
This could change in the second half of the year as Base meme coins are on the verge of a bullish breakout. Brett has already rallied by over 11% today and is currently trading at $0.14.
A new meme coin – Base Dawgz – is also in high demand, having already raised over $2.5 million in its ongoing presale. Some analysts believe that DAWGZ could be the next big Base meme token.
Why Are Brett, Base Meme Coins Skyrocketing?
Base meme tokens are presenting stiff competition to their Solana counterparts. As such, Base offers similar advantages to Solana, including the low trading cost which results in high retail involvement.
Furthermore, Base is the Layer-2 venture of Coinbase, one of the most popular crypto exchanges in the world and the largest exchange in the US by volume. Experts believe that Coinbase will look to onboard a majority of its 140 million users to Base.
For instance, a member of Base’s core team – Jesse Pollak – has recently hinted that the Layer-2 chain is set to undergo significant technological upgrades over the summer. This is sure to bring attention to the high-potential meme coins on Base, especially since the crypto market would likely be in the midst of a major bull run by then.
Furthermore, Base has ETH as its native cryptocurrency. This means that Brett and other meme tokens show a strong correlation with the Ethereum price and largely act as leveraged ETH.
With the spot Ethereum ETFs expected to start trading next week, the ETH price is set to push towards a new all-time high. Therefore, it stands to reason that Base meme coins could potentially deliver outsized returns.
As previously mentioned, the Brett price is up by over 10%, in part after Bloomberg analyst Eric Balchunas reported that the Ethereum ETFs could launch by July 23rd.
Its daily trading volume is also up by over 100%, indicating that a bullish continuation is more than likely. Notably, Brett is still trading 27% below its previous all-time high, leading experts to call for a new high by the end of July.
Analysts have also identified that Brett is set to break out from a bull flag pattern in its 2-day timeframe. A successful breakout could mean a $5 billion market capitalization in the coming weeks.
Is DAWGZ The Next Big Meme Coin On Base?
The new meme coin Base Dawgz has quickly raised over $2.5 million in its ongoing presale, indicative of its high upside potential.
The developer team behind the project has identified the lack of any popular dog-themed meme coin on Base. In fact, the largest such token is Basenji, which has a valuation of just $56 million. DAWGZ appears poised to fill this vacuum, as is evident from its presale performance.
The developer team has also come up with a unique share-to-earn concept, which could prove to be a game-changer for its investor acquisition and retention. Investors can now share DAWGZ-related content on their social media and earn airdrop points, which could later be cashed in for free Base Dawgz tokens.
Similarly, they can create their unique referral link and receive a percentage of the presale investments made through it.
Finally, buyers have the opportunity to stake their holdings and start accruing passive income at a rate much higher than the industry standard. The current reward rate is over 1400%.
The meme coin’s community-centric tokenomics and strong early demand have already impressed popular smart money traders and crypto influencers. Some have even suggested that it could deliver up to 100x returns after its launch.
