The post BASE Token Faces Backlash After Meme Coin Crashes 90% Minutes After Launch appeared first on Coinpedia Fintech News
Base, the blockchain network backed by Coinbase, faced backlash after promoting a meme coin called Base is for everyone. What started as a fun idea to experiment with on-chain content quickly turned into a nightmare. The coin’s value shot up fast, then crashed just as quickly, leaving many in the crypto space confused and frustrated. After the backlash, Base stepped in to explain what happened and why they launched the token in the first place.
From Hero to Zero in Minutes
On April 16, Base shared a promotional image with the phrase Base is for everyone on X, along with a link to a token of the same name. This token was launched on Zora, a platform where people can turn content into tokens. Just over an hour after launch, the token’s market value reached $17.1 million. But within the next 20 minutes, the value dropped by nearly 90 percent. At one
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