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New meme coin Base is for everybody (BASE) has surged greater than 88% within the final 24 hours and is trending No. 1 on CoinMarketCap — even after Coinbase disowned the token launched on its Base platform.
The meme coin was launched yesterday and Coinbase’s layer-2 undertaking Base promoted the token on X and one other social platform known as Zora.
Coinbase Distances Its Layer-2 Community From Base Is For Everybody After 90% Drop
Following a backlash after the token plummeted 90% at one level, Coinbase distanced its Base community from the meme coin.
“Base didn’t launch a token,” a spokeswoman stated in an announcement. “This isn’t an official Base token, and Base didn’t promote this token. Base posted on Zora, which mechanically tokenizes content material.”
Shortly after the token’s launch, Base is for everybody had soared to a market cap of $17.1 million. The climb was short-lived, with the meme coin’s worth plummeting almost 90% in 20 minutes to a capitalization of $1.9 million.
The token has since recovered to a $16.5 million capitalization as of two:10 a.m. EST. That’s after Base generated $73,422 in earnings with $34.69 million in buying and selling quantity within the final 24 hours, the meme coin’s Zora web page reveals.
X Crypto Neighborhood Disgusted With New Base Is For Everybody Token
Regardless of Base attempting to distance itself from the Base is for everybody token, a number of X customers have criticized the undertaking for the meme coin’s launch. One X consumer even stated that the blockchain has misplaced all of its credibility.
i’ve 1% of @base’s official memecoin! haha!
thats cool to say!
(im down a home)
on an actual note- completely ridiculous there are excessive wage people that work on this chain.
how do you permit this to occur? how did this get greenlit? like really laughable and any…
— adam (@Web3Adam) April 16, 2025
Former Riot Platforms researcher Pierre Rochard stated the token is “horrible for the business,” including that it’s simply an try at “very short-term transactional extraction.”
However the meme coin’s creator Jess Pollack, who has created a number of tokens and posted them on Zora previously two months, defended the creation of the brand new meme coin.
“Somebody has to normalize placing all of our content material onchain,” he stated in an April 16 X put up in protection of the token’s launch.
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