Following a federal court decision in the ongoing case between the Securities and Exchange Commission and cryptocurrency exchange Coinbase, significant daily gains have emerged in the memecoins of the Base network. On-chain data shows that when looking at the basic meme coin ecosystem, substantial gains are evident, with some increasing in value by over 20% in the last 24 hours. The market value of the Base network’s meme coins has increased by 12% in the last 24 hours, nearly reaching the level of 1.1 billion dollars.
Current Status of Meme Coins on the Base Network
Coinye West became one of the standout meme coins of the day. The crypto, supported by the community, became one of the notable projects after today’s 110% surge.
The 5000% increase in the cryptocurrency’s value over the last 24 hours signals the continuation of the recent meme coin frenzy in the crypto market. Bald Dog was in second place after a 45.2% increase during this period, adding to its impressive 313% rise from the previous week.
Brett, a meme coin that investors have been following for a longer period, also experienced a 25.9% increase today. The meme coin seems to be continuing the gains it has made over the past two weeks.
With increases of 55.7% and 73% at different times, Brett continues to be one of the most notable meme coins in the market in recent days. During this period, Brett leads the Base memecoin ecosystem in market value with a daily volume increase of 14.2%.
During this time, Toshi and Degen also followed Brett with weekly increases of 68.2% and 127%, respectively. We informed you yesterday about how a Degen investor turned a small investment into a massive profit.
Meanwhile, the memecoin market continues its rise at full speed. As of the time of writing, the memecoin market has risen to a level of 69.1 billion dollars, showing an 8% growth compared to the previous day. The market’s undisputed leader, Dogecoin, continues its upward movement with a 13% daily increase.
In the meantime, there have been declines in Solana meme coins. Dogwifhat, BONK, and Slerf were among the notable meme coins with respective drops of 6.6%, 1.4%, and 18.5%.
Latest Developments in the Coinbase Case
On March 27th, a federal court in Manhattan denied a motion to dismiss the case against Coinbase, which was accused by the SEC of operating an unregistered exchange and providing trading services around unregistered securities.
Some prominent figures suggest that the rise in Base tokens is influenced by the court’s decision regarding the Coinbase Wallet issue.
