Crypto Whales Move Funds to New Meme Coin – Could It Surpass Dogecoin?
The meme coin market is experiencing a resurgence, with trading volume jumping 9% recently. This renewed interest has investors eagerly sniffing out the next big gainer, leading many to projects on the rapidly growing Base blockchain.
Congrats $DAWGZ
We reached $2.3 million raised! Let's keep pushing to 2.5! pic.twitter.com/uoAr2OMTGo
— Base Dawgz (@BaseDawgz) July 2, 2024
One such project is Base Dawgz, a Shiba-Inu-inspired meme coin that has rapidly gained traction, attracting over $2.33 million in presale investments in less than a month.
This strong early performance demonstrates the substantial investor appetite for new contenders in the dynamic meme coin space.
The excitement surrounding Base Dawgz is amplified by the growing popularity of the Base blockchain itself.
The network recently surpassed a $4 billion market cap and saw a 6% jump in 24-hour trading volume, capturing the attention of both seasoned crypto whales and newcomers alike.
This positive momentum stands in contrast to other players in the space, such as Solana, whose $4.591 billion Total Value Locked (TVL) has yet to recapture its late 2021 peak.
Base, meanwhile, boasts a $3.98 billion market cap, a figure that climbed an impressive 6.51% in a single day, further solidifying its position as a blockchain to watch.
This growth is particularly attractive when viewed alongside the success of other dog-themed meme coins, demonstrating the potential profitability of this niche within the crypto market.
Dogecoin, for instance, boasts a massive following of 3.9 million on X, showcasing the power of community-driven projects.
Another Base-based dog-themed coin, Brett, witnessed a 73.65% price surge in the past month, reaching a $1.59 billion market cap.
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