How Coinbase’s Base Turned a Meme Coin into a $16M Comedy Show

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In a dazzling spectacle of financial farce, Coinbase’s Layer 2 darling, Base, has unwittingly coiffed the coiffure of a monumental pump and dump—like a curious child setting fire to their own homework. The project’s official Twitter account, with all the subtlety of a town crier on a bender, trumpeteted the arrival of a meme coin grandly titled “Base is for everyone.” 🎪

This incantation summoned a whirlwind of speculative frenzy, ballooning the token’s market cap to a dizzying $15 to $20 million in what can only be described as a few feverish hours. Alas, this gilded butterfly soon fluttered pitifully to near oblivion, vanishing faster than a debutante’s virtue at the nearest gambling den.

The Curious Case of Base’s Bumbling Boost

The tweet, adorned with promotional trappings and direct pathways to the meme coin on Zora, bestowed upon this bubble the faintest aura of respectability—an unfortunate miscalculation, like inviting wolves to a sheep’s tea party. 🐺☕

The herd obliged, plunging headlong into the frenzy, as price charts blossomed in a significant flare of green before collapsing with the grace of a drunkard on stilts. 🍸📉

Within a mere 4-hour trading window, a robust green candle, heralding millions in eager inflows, was cruelly drowned by an equally potent red one, signifying a total vanishing of liquidity and marking the textbook scenario of a pump and dump—a vulgar pantomime for the ages. 🎭

The meme coin’s worth evaporated by more than 99%, whilst trading volumes on Uniswap exploded past $13 million during this brief yet dazzling carnival of folly.

base just had a major rug pull, here’s what went down

what happened

→ official base twitter promoted memecoin “base is for everyone”
→ immediate speculative frenzy, token pumped from launch to ~$15-20m mc
→ liquidity pulled, token instantly collapsed to near-zero within…

— Abhi (@0xAbhiP) April 16, 2025

The ignited uproar against Coinbase and Base is nothing short of volcanic. Crypto influencers, those erstwhile sages of the blockchain, have unleashed a withering critique of due diligence—or spectacular lack thereof—and communications strategies that would make even a circus clown cringe. 🤡

Accusations of bungling and catastrophic oversight ripple fast through social media’s abyss, while the internet revels in memes skewering the network’s affable slogan, “Base is for everyone,” as if it were an invitation to financial chaos. 📉🃏

For now, Base remains as tight-lipped as a chap caught with his trousers down, on whether any official reply will emerge from the smoldering wreckage.

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2025-04-17 01:16