Base meme coins rally, leave Solana-based Daddy Tate to bite the dust

Base is a Layer 2 chain on Coinbase. Several meme coins on Base started their recovery from the recent correction. Solana based asset Daddy Tate (DADDY) wiped out nearly 19% of its value in the past 24 hours, while BRETT, KEYCAT, BOOMER and HIGHER rallied. 

Base-based meme coins lead recovery in the sector

Solana-based meme coin DADDY gained relevance for its notorious association with celebrity Andrew Tate (who received 40% of the token’s supply). 

DADDY is down nearly 19% on its value in the past 24 hours, while Base-based meme coins Brett (BRETT), Keyboard Cat (KEYCAT), Boomer (BOOMER) and Higher (HIGHER) gained between 3% and 6% in the same timeframe. 

DADDY was listed on Gate.io exchange on June 15, and the asset hit its all-time low of $0.1733, on Sunday, June 16. The meme coin’s all-time high was $0.2886, on Friday, per CoinGecko data.

Crypto intelligence tracker Bubblemaps had identified insider trading activity in DADDY and alerted traders to proceed with caution when trading the asset. 

Base-based meme coins BRETT, KEYCAT, BOOMER and HIGHER are making steady progress towards wiping out their double-digit losses from the past seven days. The overall market capitalization of the sector is up nearly 5%, to $2.16 billion. 

Solana-based meme coins’ market capitalization is also rising. This indicates there is a recovery in the meme coin ecosystem as a whole, while Bitcoin ranges below resistance at $67,000, on Binance.