Memecoin mania hits Base: Obscure tokens skyrocket amid rug pulls and FOMO By Cointelegraph

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Memecoin madness has arrived on Coinbase’s layer-2 scaling solution Base, bringing with it everything from remarkable shitcoin surges to classic token rug pulls.

On July 30, memecoin traders were snapping up a suite of questionable tokens on Base, with one Brian Armstrong-themed memecoin dubbed “BALD” experiencing a 289,000% gain within the first 14 hours of trading.

BALD price chart since inception. Source: DexScreener
BASED all-time price chart. Source: DexScreener

Rug pulls and memecoin gambling