The meme coin frenzy within the Solana ecosystem seems to have come to a pause, as the Western community appears to be shifting its focus towards Ethereum’s L2 network, Base. Base is a layer 2 network built by the US exchange Coinbase based on the OP Stack. Since the implementation of the London upgrade on the Ethereum mainnet, transaction fees on the Base network have decreased by 99%, significantly improving user interaction costs.
According to data from the Dune dashboard, the Base network has seen a significant increase in both on-chain transaction volume and new users over the past week. Many overseas Key Opinion Leaders (KOLs) have started rallying for the upcoming “base szn” (season).
The on-chain activity is not driven by a new application, but rather the meme coin speculation has shifted from Solana to the Base ecosystem. Meme coins such as BSHIB, OVER, NORMIE, BRIUN, BRETT, DEGEN, and others have gained considerable popularity. Will the Base ecosystem be able to support and give birth to the first meme coin with a market capitalization of $1 billion?
