The meme cryptocurrency world was recently taken by storm with the launch of BALD, a newly introduced meme coin on Base, a layer-2 chain developed by Coinbase on Ethereum. Within mere hours of its launch, BALD's market cap soared to an impressive $70 million.

The current price of BALD stands at $0.06, marking a 70% increase in the past 24 hours. However, what truly captured the attention of the crypto community was the coin's astonishing 40,000% jump shortly after its launch.

Recent data from CoinGecko reveals that over $66.7 million worth of BALD has been traded in the past day, with more than 14,000 transactions recorded. BALD is available on the DEX platform LeetSwap, where it trades in the BALD/WETH pair.

Wu Blockchain reported that the BALD token, based on the Base network, has surged by as much as 30,000x in the past 24 hours, reaching a market value exceeding $70 million. Currently, around 25,000 ETH is deposited on the Base chain, with LeetSwap's BALD/WETH pair holding more than 9,800 WETH.

According to blockchain analytics firm Lookonchain, BALD's meteoric rise allowed some savvy investors to reap huge profits. In one instance, four addresses used 0.534 ETH (approximately $1,000) to buy 50 million BALD, accounting for 50% of the total supply, and quickly sold 37 million BALD to earn a staggering return of 554 ETH, or over $1.04 million.

On-chain data also highlights a PEPE whale's purchase of 13.6 million BALD worth $937k, after selling 720.8 billion PEPE for roughly $943k. This address is now the largest holder of the token, aside from BALD's developer.

The BALD token's extraordinary performance has certainly made waves in the crypto community, reflecting the unpredictable and dynamic nature of meme coins and the broader cryptocurrency market.