Content Summary:
The upcoming Base blockchain is generating excitement among traders, as a meme token named after Coinbase founder Brian Armstrong’s cat gains popularity. Traders have exchanged millions of dollars worth of the token, called toshi (TOSHI), on the Base network. This frenzy is reminiscent of the rise of other meme coins like dogecoin and shiba inu. While meme coins are highly speculative and lack practical uses compared to more established tokens, they offer opportunities for investors to profit from volatility. Base, built by Coinbase, is set to officially launch on August 9, but traders have already shown interest by investing millions in another meme coin called bald (BALD).
Key Points:
– Traders are betting big on the toshi (TOSHI) token, named after Brian Armstrong’s cat, on the upcoming Base blockchain.
– The meme coin has seen millions of dollars worth of transactions on the Base network.
– This behavior is similar to the rise of other meme coins like dogecoin and shiba inu.
– Meme coins are highly speculative and lack practical uses compared to established tokens like ETH.
– Base, built by Coinbase, is set to officially launch on August 9, but traders have already invested millions in the bald (BALD) meme coin.
Hot Take:
The upcoming launch of Base blockchain has already attracted significant interest from traders, with meme tokens like toshi (TOSHI) and bald (BALD) gaining popularity. While meme coins may lack practical uses, they offer opportunities for investors to profit from volatility. The success of dogecoin and shiba inu in recent years has likely fueled the frenzy around these meme tokens. As Base officially goes live next week, it will be interesting to see if these meme coins can sustain their momentum or if they will fizzle out like many others before them.
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