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Crypto Traders Shift Focus From Solana to Coinbase’s Base Meme Coins

2 mins
Updated by Bary Rahma
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In Brief

  • Crypto traders are moving from Solana to Coinbase's Base meme coins, indicating a shift in market focus.
  • Rekt Fencer, who allegedly made over $1 million from Solana memes, champions the potential of Base tokens.
  • Coinbase to launch a service for over 100 million users to trade Base coins easily, boosting the sector's appeal.
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Crypto traders are transitioning from Solana-based meme tokens to the growing market of Coinbase’s Base meme coins.

This movement reflects a broader trend in the industry, where liquidity and market sentiment drive investment decisions.

From Solana to Base Meme Coins

Rekt Fencer is a seasoned analyst who reportedly amassed over $1 million through Solana meme coins. He is leading the charge toward Base tokens. Fencer’s transition is not only a change of blockchains but a testament to the hype around cryptocurrency investments.

He also emphasizes the untapped potential of Base tokens, which could yield high returns. Likewise, another analyst under the pseudonym Xremlin agrees that the market attention is gradually pivoting toward Base memes.

He points out that Coinbase will introduce a new offering that allows its over 100 million users to engage in trading on Base without the need for seed phrases or private keys, which is further adding fuel to the hype.

Blockchain Ecosystems
Most Popular Blockchain Ecosystems. Source: CoinGecko

The allure of meme coins lies in their ability to leverage online communities and social media speculation. Indeed, community strength plays a crucial role in a meme coin’s success. Tokens with active social media presence and high engagement rates often signal a robust and supportive base, which can lead to sustained growth.

While some view these assets skeptically, their financial impact cannot be ignored. Fencer advises traders to “stop ignoring meme coins” and start capitalizing on this lucrative trend.

“Meme coin trading is the easiest way to make your first $1 million,” Fencer believes.

Read more: 7 Hot Meme Coins and Altcoins that are Trending in 2024

Fencer explains the importance of diligent research and the use of specialized tools to navigate the meme coin market successfully. Platforms like DEX Screener and DEXToolsApp are invaluable for real-time analysis, enabling traders to identify high-potential coins early. Following influential X personalities and monitoring exchanges can also provide critical insights into trending tokens.

He also mentions the strategic use of AI trading bots to secure tokens at optimal prices, which requires caution and expertise.

Among the standout Base meme coins highlighted by Fencer, Normie (NORMIE) is recommended at an entry price of $0.12-$0.08, doginme (DOGINME) at $0.001-$0.0007, Briun Armstrung (BRIUN) at $0.023-$0.016, bloo (BLOO) at $15-$12, BaseProShops (BPS) at $0.0057-$0.0034, and Brett (BRETT) at $0.03674-$0.02. Each token presents a unique market cap and offers substantial growth potential.

Still, Xremlin advises investors to approach these meme coins with caution, given the high risks they pose.

“Investing in memes is high risk. Only bet what you can afford to lose. Projects might rug, slow rug, or suddenly tank by 50%-70% when the hype fades,” Xremlin concluded.

Read more: 11 Best Altcoin Exchanges for Crypto Trading in March 2024

This shift from Solana to Base represents a strategic pivot towards newer, perhaps less explored avenues of wealth in the crypto space. As traders like Fencer demonstrate, the meme coin market, when approached with knowledge and strategy, can be a lucrative field ripe for discovery.

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Bary Rahma
Bary Rahman, a talented journalist, graduated from New York University with a degree in Journalism. Skilled in SEO, she has worked with CNN, showcasing her investigative skills and storytelling abilities. In addition to her journalistic accomplishments, Bary has contributed her expertise as a content writer for Binance, crafting insightful articles on the dynamic crypto industry. Her unique fusion of journalism and SEO makes her a versatile and highly respected figure in the industry.