The crypto market is witnessing an unprecedented surge in the popularity of meme coins on Base blockchain, a development bolstered by its affiliation with Coinbase, one of the most retail-friendly exchanges. It now seems like the meme coin market on Ethereum and Solana has now calmed down as trading volume starts to flow to meme coins on Base.

This article delves into why Base is gaining serious momentum amongst retail traders and explores some of the standout tokens that are capturing the market’s attention. Finally, we’ll walk you through how to prepare for a major launch like the $ROOST drop this afternoon.

Base’s Blockchain Boon: Coinbase’ Meme Coin Magnetism

Base, Coinbase’s brainchild built on the OP Stack (built by the team behind the Layer 2 network Optimism), has become a hotbed for meme coin activity, drawing a burgeoning community of traders and investors.

This surge is not merely about the whimsical allure of meme coins but is underpinned by the blockchain’s robust fundamentals and direct integration with Coinbase, which, alongside cheap transactional fees has made Base a preferred platform for newcomers, providing an intuitive gateway to a diversified crypto portfolio.

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The recent explosion in transactional activity and the doubling of unique addresses on Base underscore the growing fascination with meme coins.

Notably, tokens like TOSHI, TYBG, DEGEN, and BRETT have seen meteoric rises, signaling a vibrant and increasingly mainstream meme coin ecosystem on Base.

(TOSHI USDT)

These tokens, along with technical projects like AERO and SEAM, contribute to a dynamic and expansive network, with Base accruing substantial fees from this heightened activity.

Why Are Meme Coins Thriving on Base?

The meme coin frenzy on Base is more than a fleeting trend; it’s a testament to the platform’s accessibility and user-centric design.

Direct access from Coinbase’s exchange and wallet apps makes Base an attractive starting point for retail users, fostering a unique ecosystem where meme coins can flourish.

Coinbase is an incredibly popular crypto exchange which has helped accelerate user growth on the Base network. It gains the great reputation that Coinbase has, making it an obvious choice for retail users looking for an alternative to Ethereum.

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The network’s user-friendly interface, coupled with the inherent virality and community-driven nature of meme coins, creates a potent mix that appeals to a broad spectrum of investors.

Moreover, the layer-1 gas fees and network congestion, are shifting intense trading activity away from blockchains such as Ethereum – further aiding the rise of interest in Base’s meme coin market.

How to Prepare for $ROOST and Other Meme Coin Launches

Millions of dollars is made and lost every day on meme coins and knowing how to prepare for major launches could mean the difference between a painful loss and major gains. It’s important to note, however, that even if you are perfectly prepared for a launch, you could still lose money. That’s why it’s important to only invest money that you can lose. Make sure to do your own research and speak to a financial advisor for any financial advice.

Now, let’s get into how to prepare for $ROOST and other launches. $ROOST is one of the most hyped meme coin launches to ever happen on Base and it’s planned for Tuesday at 4 PM EST.

If you already bought into the presale, you don’t have to do much. You just need to be ready to sell your tokens so that you can do so when the right time comes.

If you’re like the rest of us and discovered $ROOST a bit too late but still want in on the action, you’ll likely have to buy in via a decentralized exchange like Uniswap. Luckily, this is pretty simple.

First, you will need to get some Ethereum onto Base. Send your Ethereum to a personal wallet that is supported by the Base bridge. This includes MetaMask, Coinbase Wallet, Rainbow, Rabby Wallet, and WalletConnect-supported wallets. Then, navigate to the Base bridge, enter in however much ETH you want to transfer (make sure you send a enough to pay for gas fees).

From there, complete the transaction and wait until your ETH shows up on Base. You may need to add Base to your wallet if you haven’t already so navigate to Base’s guide to do that or else you won’t be able to see the bridged ETH.

Now it’s time to wait for the launch. Watch $ROOST’s X (formerly Twitter) account to find the $ROOST token contract. You’ll need this once the token is launched but you can also find it on other platforms like CoinGecko, Dextools, or Coinmarketcap. Once the token and corresponding liquidity pool is live, navigate to your DEX of choice with a large enough liquidity pool (likely Uniswap in this case).

Make sure that you are connected to Uniswap and your wallet is set to the Base network. Note that you may need to edit your slippage tolerance before you swap. Slippage for new memecoins often needs to be significantly higher than usual but it’s generally advisable to not use an “auto” option as bots could lose you a lot of money. Then, paste the correct token address for $ROOST into the second blank, and complete the transaction. Hopefully, if the transaction doesn’t fail, you will have your $ROOST.

Looking Ahead: The Future of Meme Coins on Base

As Base continues to grow, buoyed by Coinbase’s innovative strategies and the intrinsic appeal of meme coins, the future looks promising.

The anticipated introduction of a native smart contract wallet by Coinbase could further streamline the trading experience, potentially catapulting Base to new heights of adoption and activity.

And as the 2024 bull run gains momentum, the meme coin phenomenon on Base doesn’t seem to be just a passing craze but a reflection of the evolving landscape of cryptocurrency, where humor, community, and innovation intersect to create new investment paradigms.

As we watch BRETT, DEGEN, and other meme coins navigate this exciting terrain, it’s clear that the meme coin market on Base is not just about capitalizing on trends but about being at the forefront of the digital asset revolution.