3 months ago
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Minimal trading volumes highlight meme coins' price volatility.
Base meme coins soared by two digits today after the SEC closed its Ethereum investigation without security charges, according to data aggregator CoinGecko. Despite the heavy price increases, the lack of daily trading volume signals how simple it still is to move meme coin prices.
The new meme coin Farcaster Flower (FLOWER), which entitles itself as the “first flower token on Farcaster,” is in the lead with its 116% price leap in the last 24 hours at the time of writing.
The dog-themed meme coin Basenji (BENJI) also showed a stellar performance in the same period, with a 98.5% growth. BERF and Weirdo (WEIRDO) are also among the top gainers, registering positive movements of 85.1% and 68.4%, respectively.
Top 10 gainers among Base meme coins. Image: CoinGeckoPola (POLA) and Normie (NORMIE) are in the middle of the pack with their 42.9% and 35.7% respective price hikes. Landwolf (WOLF) and the native token of layer-3 blockchain Degen (DEGEN) are square with 33% increases in their price.
The cat-themed Poncho (PONCHO) is another member of the top 10 gainers and registers 30.6% gains, with ROXY FROG (ROXY) closing the group with 28.6% positive movement. Notably, except BERF (BERF), all the top 10 gainers in the Base ecosystem are tanking in the weekly timeframe.
Moreover, except for BENJI and DEGEN, all Base meme coins registered less than $1 million in daily trading volume. As an example, ROXY moved a little over $20,000 in volume in the last 24 hours, which was enough to make its price jump by two digits.
Therefore, although the price leaps shown by these meme coins might seem attractive, they are still very volatile and risky.
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