An announcement by a federal court in a case involving popular cryptocurrency exchange Coinbase has resulted in significant growth for meme coins connected to the Base network. Market analysis indicates that these digital assets have collectively increased by around 12% in the previous day, nearing a total valuation of $1.1 billion. Some tokens have experienced even more substantial growth, with certain ones seeing a rise of over 20% in only 24 hours.
Memecoin Standouts in the Recent Surge
During this latest rally, Coinye West stood out with an impressive 110% surge, captivating attention for its exceptional performance. Following closely behind was Bald Dog, which rose by 45.2% within the same timeframe and continued its growth trend with a 313% increase the week prior. Investors have also taken note of Brett, another meme coin, which saw a 25.9% increase. Brett's consistent growth over the past few weeks, with gains of 55.7% and 73% at different intervals, has kept it in the spotlight.
In the Base memecoin market, Brett currently holds the highest market value, driven by a 14.2% rise in daily trading volume. Toshi and Degen are also worth mentioning, as they have experienced significant weekly growth of 68.2% and 127%, respectively. The memecoin market as a whole has seen substantial growth, reaching a total value of $69.1 billion, an 8% increase from the previous day, with Dogecoin leading the way with a 13% spike.
Influence of Coinbase Legal Proceedings
Recent legal proceedings in the Manhattan federal court involving Coinbase, accused by the SEC of facilitating trades in unregistered securities, may have contributed to the positive momentum observed in Base tokens and their recent market success.
Source: The content was originally published on BH NEWS.
