Cryptocurrency $BALD, operating on the base platform, has reached an all-time high of $0.0567 in the past 24 hours, experiencing a remarkable 60% surge in value.
Spotonchain’s on-chain activity data reveals that the $BALD developer has taken action by burning approximately 600 million tokens, equivalent to about 60% of the total supply, within the last 5 hours.
This significant burn has directly contributed to the 60% surge in the price of $BALD.
🚨 The $BALD developer has burned approximately 600 million tokens (~60% of the supply) in the past 5 hours, causing the $BALD price to surge by 60%.
In August, the developer executed a rug pull, withdrawing 3K $ETH from the community, and has shown renewed activity over the… pic.twitter.com/DH2asRI8BW
— Spot On Chain (@spotonchain) March 26, 2024
In a twist of events, the developer’s recent activity comes after an incident in August where they executed a rug pull, withdrawing 3,000 $ETH from the community.
However, there seems to be renewed engagement from the developer over the past few days, signaling a potential shift in their approach.
Aside $BALD, These Tokens Record Massive Profits
It’s not just $BALD that’s enjoying the upward momentum. Other memecoins on the base platform have also seen increases in value over the past 24 hours:
- – $TOSHI: 17% rise
- – $MOCHI: 28% increase
- – $SMUDCAT: Surged by 154%
- – $DEGEN: 8% uptick
- – $BRETT: 20% jump
Despite these gains, the market caps of these memecoins on the base platform remain relatively lower compared to their counterparts on different networks.
The burning of $BALD tokens coupled with the overall positive sentiment in the base memecoin ecosystem indicates a potential resurgence in interest and activity within the community. As developments unfold, investors and enthusiasts will be closely monitoring the trajectory of these tokens and the actions of the $BALD developer.
Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency or investing in any services.
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