Can Base Finally Overthrow Solana with These 5,000% Potential Tokens? An Analysis of Dexscreener

Key Takeaways:

• The meme token market remains robust with over $5 billion in transaction volume in the last 24 hours.
• Solana's Doogle leads the new meme tokens but faces strong competition from Base's PEEPO and IHF.
• Trading volumes and liquidity data indicate a potential shift in meme token dominance from Solana to Base.

The meme market in cryptocurrency continues to thrive even as the broader market faces downturns. With over $5 Billion in transaction volume in the last 24 hours, meme tokens have proven their resilience and growing popularity. 

This analysis will examine how Base meme tokens are currently challenging Solana meme tokens for supremacy, using data from Dexscreener to highlight this emerging trend.

Base Meme Tokens vs Solana Meme Tokens: A Battle for Holder Counts

According to data from Dexscreener, the competition between Base and Solana meme tokens is heating up. As seen in the first image, the current leader in the new meme tokens category is a Solana-based token called Doogle. 

Priced at $0.0008419, Doogle has seen 74,186 transactions and boasts a market cap of $841,000. However, Base's PEEPO and IHF are closing in fast. PEEPO, priced at $0.002362, has recorded 36,093 transactions and a market cap of $1.5 Million. 

IHF, trading at $22.84, has 18,021 transactions and a market cap of $11.9 Million. The growing number of holders and transactions for these Base tokens suggests a significant shift might be underway.

Trading Volumes and Data: A Closer Look

Examining the trading volumes and liquidity data of these three tokens provides further insight into this trend. Doogle's 24-hour volume stands at $397,000 with a liquidity pool of $87,000. 

In comparison, PEEPO has a 24-hour volume of $25,000 and liquidity of $158,000, while IHF shows a volume of $159,000 and liquidity of $1.7 Million. 

Despite Doogle's leading position, PEEPO and IHF demonstrate stronger liquidity, indicating investor confidence and potential for growth.

Read more: How to Buy SOL

The 24-hour price changes also reflect interesting dynamics. Doogle's price surged by 70.14%, showcasing strong short-term interest. 

Meanwhile, PEEPO and IHF experienced slight declines, with PEEPO down by 3.28% and IHF by 1.83%. This volatility is typical in the meme token market but underscores the fierce competition between Base and Solana meme tokens.

Looking at the price movement of these tokens and the current condition of the meme market, these tokens could potentially go exponentially higher. 

PEEPO and IHF have both displayed strong movement in the last couple of days, which can trigger a new FOMO that pushes its token’s price upward. 

Since most Base meme tokens usually go up by more than 5,000% to 10,000%  and these tokens have just gone up by 1,000% then there is still potential for these tokens to go a minimum of 5,000% in the next couple of weeks.

However, this movement depends on the market condition and the hype around these tokens, as this potential is a “high-risk high-reward” condition that needs to be handled with great risk management as it might not happen. 

Conclusion

While Solana meme tokens, exemplified by Doogle, currently hold a dominant position, the rapid rise of Base tokens like PEEPO and IHF highlights the dynamic and ever-changing nature of the meme token market. 

As liquidity and transaction volumes for these Base tokens grow, a shift in dominance could occur frequently. 

However, for now, Solana's established presence and significant market cap maintain its leading status in the meme token arena. Investors and enthusiasts should keep a close eye on these developments as the competition continues to evolve.

Frequently Asked Questions

1. What are the main differences between Base meme tokens and Solana meme tokens?

Base meme tokens are built on the Base blockchain, leveraging its unique features and ecosystem. In contrast, Solana meme tokens are developed on the Solana blockchain, known for its high throughput and low transaction costs. Both ecosystems offer distinct advantages, but their meme tokens compete for market dominance and investor interest.

2. Which meme token is currently leading in terms of transaction volume and liquidity?

As of the latest data from Dexscreener, the Solana-based meme token Doogle is leading in terms of transaction volume, with a 24-hour volume of $397,000 and liquidity of $87,000. However, Base tokens like PEEPO and IHF show strong liquidity figures, indicating significant investor confidence and potential for growth.

3. Why are meme tokens still popular despite broader market downturns?

Meme tokens remain popular due to their community-driven nature, the influence of social media, and their appeal as speculative investments. Even in a broader market downturn, meme tokens often see substantial transaction volumes and price volatility, attracting both new and seasoned investors looking for high-risk, high-reward opportunities.

Investor Caution 

While the crypto hype has been exciting, remember that the crypto space can be volatile. Always conduct your research, assess your risk tolerance, and consider the long-term potential of any investment.

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