One Base meme coin gaining attention in 2024 is Normie (NORMIE). But what is the Normie token, and where did it come from? Find the answers to these questions and more in this comprehensive guide on this trending meme coin.
Methodology
Our process for selecting the top exchanges to purchase NORMIE was thorough and conducted through a rigorous process. Many exchanges were considered; however, only the top exchanges made the final cut.
Our methodology mostly considered availability of the token NORMIE. As a relatively new token, very few centralized exchanges have begun to list it. As it is also a Base chain meme coin, only a handful of decentralized exchanges (DEX) have also created NORMIE liquidity pools.
Other factors that were taken into account were liquidity, availability, fees, security, and reputation. The exchanges CoinEx, BingX, HTX, Uniswap, and SushiSwap reflect the to options for purchasing NORMIE.
- CoinEx: As a global exchange, serves more than 200 countries, has fees lower than even DEXs, and has deep NORMIE markets for trading.
- BingX: Has the lowest fees out of all exchanges that offer NORMIE on the list. Users can also enjoy multiple payment methods when they trade on BingX.
- HTX: Formerly know as Huobi is a global exchange that scores high in most categories. This includes low fees and trading requirements, and multiple payment methods and supported countries.
- Uniswap: Created by Hayden Adams, is the most popular DEX on Ethereum and perhaps in all of DeFi. It is available on EVM-compatible chains like Base as well.
- SushiSwap: Is a fork of Uniswap that has since added more features and DeFi services. It is one of the top exchanges in DeFi because it has deep liquidity.
This process was peer-reviewed and fact-checked to ensure accuracy. To learn more about BeInCrypto’s Verification Methodlogy, visit the link.
Where to buy Normie (NORMIE) token?
Before we dive into this Normie token explainer, let’s take a quick look at some of the best options for users looking to purchase NORMIE. Here are the five leading Normie-supported platforms.
CoinEx
CoinEx is a global cryptocurrency exchange that offers services for trading digital assets. It was founded in December 2017 in Hong Kong. The exchange was created by the ViaBTC Group, which is also known for operating a large mining pool.
BingX
BingX is a cryptocurrency exchange that was founded in 2018. It offers spot, copy, and derivatives trading. It distinguishes itself with its social trading platform where users can follow and copy the trading strategies of more experienced traders.
SushiSwap
SushiSwap is a decentralized exchange (DEX) that operates on Ethereum and EVM-compatible chains. It was forked from Uniswap, another popular DEX, in late August 2020. Since its inception, SushiSwap has expanded its offerings to include a range of DeFi services.
Uniswap
Uniswap is a leading DEX and automated market maker (AMM) application built on the Ethereum blockchain. It was launched in November 2018 by Hayden Adams. It has since become one of the most widely used DEXs within DeFi.
HTX
HTX, initially established as Huobi Global by Leon Li in 2013, is a Seychelles-based cryptocurrency exchange. With its roots in Beijing, the platform has expanded to include offices in Hong Kong, Japan, South Korea, and the United States, catering to a global user base.
What is Normie (NORMIE)?
NORMIE is one of a number of top meme coins, like BOME and WIF, that have taken off in a matter of weeks. The only difference is that, unlike the latter, NORMIE is built on Base chain. Base is an Ethereum layer-2 bankrolled by Coinbase, the popular Brian Armstrong-founded exchange.
Deeming itself the people’s coin, NORMIE is a meme coin with a mission to onboard the next “1,000,000 $NORMIES.” The objective of the token’s creator(s) is to give an opportunity to those who may usually lack the time or knowledge to benefit from trading meme coins.
Normie is young, having launched in March 2024. Moreover, the token’s creator is unknown. As a matter of fact, little is known about the token outside of obscure Twitter accounts and Telegram groups associated with the token.
How does Normie (NORMIE) work?
Like most meme coins, NORMIE has no inherent utility; it is purely used for speculation and trading. However, there are a few key features you should be aware of.
Tokenomics
Normie is an ERC-20 token on Base with a verified smart contract. The token allegedly had a fair sale launch, meaning there were no venture capitalists or backers. The total supply is 1,000,000,000 NORMIE. There is no buy tax, but there is a sell tax of 0.1%, and the market cap is just over $71 million as of Coingecko data on April 5, 2024.
According to a website associated with the token, NORMIE has a burn feature as well. However, this feature is not programmatic, and is done manually by an address associated with the token.
There is an associated address with the NORMIE token that is programmed into the contract. It has burned millions of NORMIE tokens about once every week. This is in alignment with the promise to burn NORMIE. So far, over 24 million NORMIE has been burned.
Safety
Additionally, the smart contract sets the ownership of the address to the ‘dEaD’ burn address. On Ethereum or Base, you have EOA and contract accounts. EOA accounts are typically what you use when you send and receive crypto.
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On the other hand, contract accounts are smart contracts. When you create smart contracts, you can assign ownership of them to other Ethereum or Base accounts, EOA or otherwise. To put it simply, many contract creators can rug pull projects simply by setting the ownership of the smart contract to their controlled accounts. Note that this is just one way to rug pull a project.
The ‘dEaD’ address is a vanity and burn address. A burn address is a cryptocurrency address to which tokens can be sent but from which they cannot be retrieved, effectively removing them from circulation.
This process is known as burning tokens. Burn addresses are typically used to reduce the total supply of a cryptocurrency, which can have various intended effects, such as increasing scarcity, stabilizing or increasing token value, and improving the tokenomics of a project.
By assigning ownership to the burn address and burning tokens, these actions might suggest a project that is more resistant to manipulation and focused on creating value for token holders.
Why is NORMIE token popular?
The phenomenon of NORMIE’s popularity aligns with a broader market dynamic of interest in meme coins, altcoins, and other crypto sectors. Since the onset of the bear market, many investors and traders have been waiting on the sidelines. Now that the bull market is here (or at least well on its way), traders are chomping at the bit to deploy capital and chase gains.
In Q1 of 2024, meme coin trading on Solana and Base experienced a rapid increase in activity, with Base Chain meme coins contributing significantly to the increase in transactions on Base.
This type of phenomenon is called a network effect. A network effect occurs when a product or service becomes more valuable as more people use it. This occurrence is often seen in social media platforms, digital marketplaces, and telecommunications networks, where each new user adds value not just for themselves but for all existing users.
If you have one telephone on the planet it’s useless, because you have no one to call. The more people who have telephones, the more useful the network is. Now you can call more people and more people can call you. This is known as Metcalfe’s law.
Kyle Samani, Managing Partner at Multicoin: YouTube
As the user base grows, the network becomes increasingly attractive to potential new users, creating a positive feedback loop that can lead to rapid growth and dominance in its market.
In summary, NORMIE is popular because capital shifted from safer assets in the bear market to riskier ones as the bull market arrived. Given major events such as Bitcoin ETF approval, interest rate pauses (and in some cases pivots), and meme coin trading, these factors set the groundwork for NORMIE and similar tokens to flourish.
Is NORMIE worth investing in?
The creator of NORMIE, while unknown, has taken a few steps to show good faith traders. For example, relinquishing ownership to a burn address and sending burning some tokens at regular intervals. These actions go a long way to show users that the project is probably safe.
Additionally, NORMIE does not have an exorbitant tokens supply, which is a common feature amongst meme tokens. Instead, it has a generous yet diminishing supply of one billion. This allows for realistic potential in price gains.
However, traders should keep in mind that the majority of profit made trading meme coins is likely to come when you buy before mainstream adoption. In other words, buying meme coins before they make it to centralized exchanges (CEX) is preferable.
Lastly, meme coin trading is highly risky in general. Traders should understand the risks of trading any meme coins, regardless of the steps a creator or team has taken to ensure safety.
From risk-averse to risk-on
Many traders have moved from risk-averse to risk-on in an effort to chase potential gains in 2024. As a result, meme coins like NORMIE are flying. As Solana and Base battle it out for meme coin dominance, only time will tell if this trend is set to continue or if capital will instead flow elsewhere.
Frequently asked questions
Normie is a meme coin on Base. It is an ERC-20 token with a total supply of one billion NORMIE. The token promises a burn feature, however, this feature is not programmatic.
Trades can buy Normie on either a centralized (CEX) or decentralized exchange (DEX). Some of CEXs that offer Normie are BingX, CoinEx, and HTX. It is also available on the Uniswap and SushiSwap DEXs.
Normie is an internet colloquialism for a normal person. It is often used as a term for in-groups to differentiate themselves from someone who has a casual interest in a particular subculture. It can be used as an insult or ironically.
To buy Normie, you will need either an account with a CEX, or a cryptocurrency wallet for a DEX. If you choose a CEX you must register an account and deposit money to start trading. For a DEX you will need crypto to purchase Normie.
Normie token is a meme coin. It is used for speculation and trading. Normie does not have any known utility outside of buying and selling.
Normie is a meme coin that is used for buying and selling. Liquidity providers can use it to create liquidity pools on decentralized exchanges. This contributes to the level of activity in decentralized finance (DeFi) as a whole.
To safely manage your NORMIE tokens you will need a cryptocurrency wallet that is compatible with ERC-20 tokens. It is better to store your tokens in a cold wallet than a hot wallet. Cold wallets keep your private keys out of reach from the internet.
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