The new meme coin Base is for Everyone (BASE) has attracted attention with its rapid rise and subsequent decline. Coinbase, the platform on which the token was launched, publicly disowned it.
Launch and Initial Surge
The meme coin Base is for Everyone was launched just a day ago and quickly reached a market capitalization of $17.1 million, generating significant public interest. The token was promoted not only on Coinbase but also on other social platforms.
Coinbase's Disavowal and Token's Decline
After a sharp decline of the token's value by 90% and negative reactions, Coinbase issued a statement claiming 'Base did not launch a token.' A company representative clarified that this is not an official token and they did not sell it.
Criticism and Defense of the Meme Coin
Despite Coinbase's disavowal, many social media users expressed dissatisfaction with the token's launch. One user commented that this undermines trust in the platform. Meanwhile, the token's creator, Jess Pollack, defended its creation, stating that 'someone has to normalize putting all of our content onchain.'
The situation with the meme coin Base is for Everyone highlights the risks associated with new cryptocurrency projects and the reactions from both users and major companies regarding market instability.
