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Coinbase-backed network Base faces criticism after advertising a meme token (Base) that crashed minutes after going live.
The alt grew to surpass $17 million in value before plummeting to $623K within minutes.
.@base shilled a memecoin, followed by a sharp crash — and then a strong rebound.
A few hours after Base’s official X account shared a link to meme coin Base is for everyone, its market cap skyrocketed past $17M.
Shortly after, its mcap plunged over 95% to $623K.
It has since
The incident has attracted insider trading debates, especially as three wallets held about 50% of Base’s overall supply.
Such events highlight the benefits of utility over hype in the meme tokens sector.
PepeX is a new AI-powered project looking to drive the tokenization narrative.
Its platform allows users to transform ideas into tangible assets within seconds.
Moreover, individuals do not require coding skills to utilize their offerings.
With its fast-paced ICO approaching $1.5 million, is PepeX the next big thing as hype-driven meme assets fail to keep pace?
Base meme coin crashes in minutes
Base took it to X to advertise a new meme called Base on 16 April.
It used Zora, which allows anyone to turn content into a token, to launch the assets.
However, what began as a public experiment switched into a nightmare.
Base’s market cap soared to $17.1 million in an hour only to slump toward $623K within 30 minutes.
That translated to an approximately 95% drop.
Furthermore, Lookonchain highlighted that three wallets held nearly 50% of Base’s supply.
3 wallets bought a large amount of “Base is for everyone” before @base posted and sold them, making a profit of ~$666K.
0x0992 spent 1.5 $ETH($2,370) to buy 256.39M “Base is for everyone”, and sold all for 108 $ETH($170.4K), making $168K.
gmgn.ai/base/address/l…
0x5D9D spent 1
Moreover, two wallets had purchased 21% of the asset’s supply early and sold to net $300K in returns.
That sparked debates about insider trading, raising worries about transparency and fairness in the meme space.
The activity has attracted a backlash to the Coinbase-supported blockchain, denting its credibility.
Meanwhile, these incidents remind us of the benefits of utility-backed crypto projects over hype-driven assets.
Let us find out how PepeX plans to clean the meme token world through its tech-stuck and unmatched use cases.
PepeX: tokenizing ideas into tangible assets
The new project presents an AI-powered platform that looks to revolutionize the tokenization sector.
Its Launchpad allows anyone to convert ideas into investable products.
Moreover, individuals can utilize PepeX.fun as it does not require coding skills to create and launch new tokens.
PepeX prioritizes fairness and transparency.
Firstly, the project limited founders to only 5% of the asset supply, with 95% going to the public.
Further, holders will enjoy a share of locked liquidity if the project fails.
Transparent ownership maps and anti-sniping features prevent pump-and-dump schemes.
The enormous prizes will incentivize the platform to support steady user and developer activities.
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Moreover, the AKIRA AI Growth Engine leverages artificial intelligence to automate community engagement and marketing to support newly launched projects.
That’s unlike other launchpads where token developers or founders handle marketing.
With meme projects failing to survive after initial hype, PepeX promises real-world and long-term value.
You can visit PepeX’s official website for more details.
This article is a collaboration between our Editors and our Partners, and it may contain sponsored advertising content and links. The content is not intended as financial advice and is for informational purposes only.
