Base Chain Memecoins Surge Amid Coinbase-SEC Lawsuit

Base Chain memecoins are exploding with massive daily gains amid a federal court ruling on the case between the Securities and Exchange Commission and cryptocurrency exchange Coinbase.
On-chain data shows huge gains on the base memecoin ecosystem with some assets posting above 20% gains in the last 24 hours. The market capitalization of base memecoins has spiked 12% to almost $1.1 billion in the last 24 hours.
Coinye West Lead Base Chain Memecoin Surge
Coinye West tops the chart surging 102% today with the community rallying behind the asset. The fact the asset has 100X in the past 24 hours comes amid the recent memecoin frenzy in the cryptocurrency market. Bald Dog comes in second with a 45.2% increase adding to its impressive 313% surge this past week. Brett, which is popular among the wider community, is up 25.9% today. The asset consolidates on gains picked up in the last two weeks.
With a 55.7% and 73% increase in the above time frames, Brett remains among the top flying memecoin in the market. Brett tops the Base memecoin ecosystem by market cap with a $14.2% daily volume. Toshi and Degen rank next with a 68.2% and 127% weekly increase respectively.
The memecoin market has ticked upwards in the last two weeks following a wider market surge sparked by increasing investor confidence. The memecoin market stands at $69.1 billion at press time, an 8% increase from the previous day. Leading asset Dogecoin continued the upward momentum with a 13% daily rise.
Base memecoins have flipped Solana memecoins regarding gains and the trending nature of assets. Dogwifhat, BONK, and Slerf are down 6.6%, 1.4%, and 18.5% respectively.
Court Denies Coinbase Motion
On March 27, a federal court in Manhattan denied Coinbase’s motion to dismiss the lawsuit filed by the SEC for the operation of an unregistered exchange and offering trading services around unregistered securities. The effect of the decision means the case will proceed to trial with Coinbase having an opportunity to receive delivery from the financial regulator.
Some experts suggest that the reason behind the spike of Base tokens is due to the issue on Coinbase Wallet dropped by the court. Despite this, the rest of the case will proceed to trial with both parties appearing confident.
Read Also: Bitcoin Options Expiry: 135000 Bitcoin Options Set To Expire This Friday
- Senators Reaffirm Commitment to Market Structure Bill After Meeting with Coinbase, Ripple
- How the Crypto Market Could React to the Next Fed Meeting on October 29?
- $1.68 Trillion T. Rowe Price Files for First Active Crypto ETF Holding BTC, ETH, SOL, and XRP
- Standard Chartered Predicts Bitcoin Could Drop Below $100K Amid U.S.–China Trade Tensions
- Rising Demand for Verifiable Crypto Ownership Drives Launch of Trezor Safe 7
- XRP Price Classical Pattern Points to a Rebound as XRPR ETF Hits $100M Milestone
- Chainlink Price Eyes $27 Rebound as Whales Accumulate 54M LINK
- Pi Network Price Wedge Signals a Rebound as Key Upgrades Raise Utility Hopes
- Solana Price Eyes $240 Recovery as Gemini Launches SOL-Reward Credit Card
- XRP Price Prediction Amid Evernorth’s $1B XRP Treasury Plan – Can XRP Hit $5?
- Ethereum Price Targets $8K Amid John Bollinger’s ‘W’ Bottom Signal and VanEck Staked ETF Filing