The hype around meme coins in the Solana ecosystem seems to have reached a milestone, as the predominantly Western community appears to be shifting its focus to Ethereum’s L2 network, Base. Base is a Layer 2 network built by the US exchange Coinbase on top of the OP Stack. Since the implementation of the London upgrade on the Ethereum mainnet, transaction fees on the Base network have decreased by 99%, significantly improving user interaction costs.
According to data from the Dune dashboard, both on-chain transaction volume and new users on the Base network have seen significant growth over the past week. Many overseas Key Opinion Leaders (KOL) have started rallying for the upcoming “base szn”.
This on-chain activity is not driven by a specific new application, but rather by the shift of meme coin hype from Solana to the Base ecosystem. Meme coins like BSHIB, OVER, NORMIE, BRIUN, BRETT, and DEGEN have gained considerable attention. Will the Base ecosystem be sufficient to support and give birth to the first meme coin with a market capitalization of $1 billion?
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