New Meme Coin BALD Sees 160% Gain in 24 Hours on Layer 2 Base

The new meme coin BALD, created on Layer 2 Base, is leading the memecoin trend with a 160% increase in the last 24 hours.

New Meme Coin BALD Sees 160% Gain in 24 Hours on Layer 2 Base

BALD’s market capitalization went from zero to $55 million on the first day of its launch, making it the 5th most liquid token of all chains on DEX Screener.

Launched on July 13, Base introduced the first mainnet version for “builders,” including investment funds, developers with extensive product testing experience, and Base’s partners. Just over two weeks after the launch of the mainnet for builders, Base caught up with the meme trend of other chains and launched BALD.

What is BALD?

Classified as a memecoin, BALD is a digital currency often driven by trends and social media sentiment, rather than intrinsic value. Some investors have reaped huge profits, with stories of achieving a return on investment (ROI) of almost 1000x and others making large returns up to $400,000 overnight.

Risks and Rewards

While the rise of $BALD has created huge fortunes for some investors, it also serves as a reminder of the volatile and unpredictable nature of the cryptocurrency market. The risk may come from the fact that Base still needs an official cross-chain bridge solution from Ethereum. BALD’s Twitter page is also warning the community to be careful during the money transfer process, as the current bridge is Base’s mainnet bridge, which only supports one-way money transfers, not withdrawals yet.

Despite a drop from as high as $0.86 to $0.55 today, BALD is up 160% in the past 24 hours. The extreme FOMO of the market has made this new memecoin into the top 5 most liquid tokens of all chains on DEX Screener.