Crypto News

Rising Tide Lifts $BALD And Base Memecoins, Developer Burns Tokens

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.

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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Image Source: bborriss/123RF // Image Effects by Colorcinch

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