- Ski Mask Dog registered a 500% growth over the last seven days.
- BRETT, the most popular BASE memecoin, witnessed a price correction.
Solana [SOL] has been long known for its dominance in the memecoin sector, but now there is a new competitor.
Coinbase’s BASE blockchain has joined the memecoin frenzy, with robust network activity backing it. This allowed several small-cap memes to flourish and even outshine top memecoins by huge margins.
BASE chain memecoins take the cake!
BASE has been witnessing a substantial surge in its network activity. As per Artemis’ data, BASE’s daily transactions skyrocketed to reach 11.4 million on the 26th of November.
The blockchain’s active addresses followed a similar trend.
Source: Artemis
A major reason behind this could be the emergence of multiple memecoins on the blockchain.
CoinGecko’s data revealed that BASE chain-based memecoins reached a trading volume of $546 million in the last 24 hours alone. While some memecoins registered meteoric growth last week, others failed to do so.
Mentioning BASE blockchain’s memecoins, Ski Mask Dog [SKI] was one of the top performers as its value increased by more than 500% last week, pushing its market capitalization to $126 million.
Apart from Ski Mask Dog, Mister Miggles [MIGGLES] also performed well with its 30% daily price rise.
Source: CoinGecko
However, BRETT, the top BASE memecoin in terms of market cap, failed to capitalize this trend. As per CoinGecko, the coin’s price fell by 9% in the last 24 hour.
At press time, BRETT’s price touched the upper limit of the Bollinger Bands. This is often followed by price drops. Its Relative Strength Index (RSI) also dropped, signaling a rise in selling pressure.
Nonetheless, the technical indicator Chaikin Money Flow (CMF) had a different reading. The indicator moved upward — a sign of more money flowing into the memecoin.
This was optimistic and can trigger a trend reversal in the coming days.
Source: TradingView
Read Dogecoin’s [DOGE] Price Prediction 2024–2025
How are top memecoins doing?
BRETT wasn’t the only memecoin that was struggling. Top memes like Shiba Inu [SHIB] and Dogecoin [DOGE] also shared a similar fate.
For instance, DOGE, the world’s largest memecoin, witnessed a nearly 4% price drop in the past 24 hours. SHIB, on the other hand, despite having registered double-digit weekly price growth, fell victim to a 3% price drop.
