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<p>Ethereum layer-two network Base reached a daily peak of $1.22 billion in trading volumes on March 30 amid a meme coin frenzy on the network.</p>
<p>Trading volumes have dropped in the new week to average $970 million on April 1, according to <a href="https://dune.com/sealaunch/dex-metrics-on-base" target="_blank" rel="noopener noreferrer nofollow">Dune,</a> but the increased activity on the network is making it an attractive destination for meme coins.</p>
<blockquote class="twitter-tweet" data-width="550" data-dnt="true">
 <p lang="en" dir="ltr">gm<a href="https://twitter.com/base?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">@base</a> transactions have gone parabolic <a href="https://t.co/XeLcj1syfO" rel="noopener noreferrer nofollow">pic.twitter.com/XeLcj1syfO</a></p>
 <p>— Alex Svanevik 🐧 (@ASvanevik) <a href="https://twitter.com/ASvanevik/status/1774597989853777944?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">April 1, 2024</a></p>
</blockquote>
<p><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></p>
<p>Base has already locked in $1.47 billion worth of meme coins as its top two meme coins posted strong gains over the past week, according to CoinGecko.</p>
<p>Sam Baseman Fraud, a new meme coin created on Base shortly after the sentencing of Sam Bankman-Fried, <a href="https://insidebitcoins.com/news/meme-coin-traders-jump-on-new-sbf-meme-coins-as-ftx-founder-gets-25-year-prison-sentence" target="_blank" rel="noopener noreferrer nofollow">pumped</a> by 35,000% before crashing.</p>
<p><a href="https://insidebitcoins.com/wp-content/uploads/2024/04/2.png" rel="noopener noreferrer nofollow"><img decoding="async" class="aligncenter wp-image-499246 size-full" src="https://insidebitcoins.com/wp-content/uploads/2024/04/2.png" alt="BASE coingecko" width="1301" height="226" srcset="https://insidebitcoins.com/wp-content/uploads/2024/04/2.png 1301w, https://insidebitcoins.com/wp-content/uploads/2024/04/2-300x52.png 300w, https://insidebitcoins.com/wp-content/uploads/2024/04/2-1024x178.png 1024w, https://insidebitcoins.com/wp-content/uploads/2024/04/2-768x133.png 768w" sizes="(max-width: 1301px) 100vw, 1301px"></a></p>
<h2 id="new-layer-three-network-drives-more-activity-into-base">New Layer-Three Network Drives More Activity into Base</h2>
<p>Degen Chain, a layer-three blockchain created atop the Base network, launched last week and is driving transaction activity on Base.</p>
<p>Within four days, the layer-three hit nearly $100 million in transaction volumes. Over 2,300 tokens, mostly meme coins, have already launched on the network.</p>
<blockquote class="twitter-tweet" data-width="550" data-dnt="true">
 <p lang="en" dir="ltr">Since its launch, it:</p>
 <p>– on boarded &gt;132k addresses<br>– had over 4.15m completed txs<br>– had 7.5k total contracts deployed (mostly rugs, only 290 verified)<br>– had over 2300 tokens launched (mostly rugs)</p>
 <p>— Shual (@0xShual) <a href="https://twitter.com/0xShual/status/1774356036050456642?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">March 31, 2024</a></p>
</blockquote>
<p><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></p>
<p>Despite the early success of Degen Chain, Polygon’s CEO, Marc Boiron, <a href="https://twitter.com/0xMarcB/status/1774551016937324949" target="_blank" rel="noopener noreferrer nofollow">says</a>&nbsp;layer-threes are diverting value from the Ethereum blockchain.</p>
<h3 id="also-read">Also Read:</h3>
<ul>
 <li><a href="https://insidebitcoins.com/news/pepe-price-prediction-pepe-plunges-14-as-experts-turn-to-this-2-0-dogecoin-for-100x-potential" rel="noopener noreferrer nofollow">Pepe Price Prediction: PEPE Plunges 14% As Experts Turn To This 2.0 Dogecoin For 100X Potential</a></li>
 <li><a href="https://insidebitcoins.com/news/top-trending-meme-coins-to-watch-out-for-in-the-upcoming-weeks-of-april-2024" rel="noopener noreferrer nofollow">Top Trending Meme Coins to Watch Out for in the Upcoming Weeks of April 2024</a></li>
 <li><a href="https://insidebitcoins.com/news/cryptocurrency-flash-crash-slices-4-off-crypto-market-cap-as-bitcoin-solana-dogecoin-plunge" rel="noopener noreferrer nofollow">Cryptocurrency Flash Crash Slices 4% Off Crypto Market Cap As Bitcoin, Solana, Dogecoin Plunge</a></li>
</ul>
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Coinbase’s Base Network Soars Amid Meme Coin Mania

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