Base's official issuance of coins staged a marketing reversal drama, and V hits a new high after MEME coin plummeted

Author: Nancy, PANews

Unlike the gradual recovery of MEME culture on Solana recently, the MEME ecosystem on Base is still in silence. However, on April 17, Base official suddenly made a high-profile appearance and shared the MEME coins such as "Base is for everyone" they created on X, trying to ignite the enthusiasm of the chain culture.

This originally carefully planned on-chain culture recovery experiment quickly lost control - the relevant MEME coins quickly collapsed after a short spike, and the Base official was also pushed to the forefront of public opinion. However, the plot did not end there. As the "Base is for everyone" was destroyed and evolved into a popular meme after being created twice, the price of MEME coins unexpectedly staged a V-shaped reversal, and the emotions on the chain also went ups and downs.

Base 's issuance of coins caused a storm, **and marketing

unexpectedly reversed after a crash**

In the early morning of April 17, Base officially issued a token called "Base is for everyone" on the Zora platform, and shared it with the official promotion. Subsequently, the price of the MEME coin quickly soared to $17 million, and the long-silent community atmosphere was instantly ignited. However, Base immediately launched its second token, "Base @ FarCon 2025", a sudden move that was regarded by the community as a "backstab", causing the price of the "Base is for everyone" token to plummeted 99% in a few hours, falling to a low of $717,000.

Behind this plunge, in addition to the out-of-control rhythm of issuing coins, high trading taxes and insider trading doubts have also become the fuse. It is reported that the MEME currency has a 20% buying and selling tax, resulting in extremely high actual transaction costs and greatly weakening liquidity. Not only that, the distribution of tokens is extremely uneven. The top three wallets hold 47% of the tokens, one of which accounts for 25.6%, causing market manipulation concerns. According to Lookonchain monitoring, before the tweets related to Base's official token, three wallets bought the token in large quantities in advance and then sold it, making a total profit of about $666,000. The community's anger at insider trading further undermines Base's credibility.

Faced with the controversy, Base official attributed the matter to a "experimental marketing." Base official response said that the reason Base posted on Zora was because it believed that everyone should bring their content to the chain and use tools that can achieve this. Memes, moments, culture. If Base hopes that the future belongs to the on-chain world, it must be willing to try boldly from the public eye. That's exactly what Base is doing. It should be clear that Base will never sell these tokens, and these are not official online tokens for Base, Coinbase or any related products. The content shared by Base is creative expression and will continue to bring culture to the chain.

Base global builder NKECHI also posted a clarification that Base did not issue coins to pull the market. This is a "content coin" and is essentially different from MEME coins. The core of content coins is not speculation, but meaning. What you buy is not a project, but a moment, an atmosphere, and a culture. This is an expression on the chain, not an expectation on the chain. This field is still very new, and Base is still learning, but don’t regard “misunderstanding” as “failure”. Base has been talking about bringing culture onto the chain, exposing experiments, and supporting permissionless creative expressions. Because in this new economy, everyone - whether it is a brand, developer, artist or shitposter, can turn the content on the chain and turn it into a "coin". Posters, advertisements, videos, memes, art - can all be coined. This is not just content, it is a new marketing method, a new creative method, a new expression method.

Despite the official efforts to clarify that the storm did not subside immediately, but unexpectedly ignited a meme campaign, with communities and crypto projects using "** is for everyone" as a template to set off a viral creation boom, with ridicule and narrative power. With the help of market sentiment, Base's marketing unexpectedly gained a lot of attention, and the price of "Base is for everyone" has even performed a dramatic V-shaped reversal. According to GMGN data, the token rebounded to a maximum of US$22.55 million, with trading volume exceeding US$33 million in the past 24 hours.

Daily revenue hits a two-year high, Zora is about to issue tokens

"Zora is a social network, where every post is a MEME coin." In this Base coin issuance storm, Zora is the direct beneficiary of traffic and revenue.

According to Blockworks data, Zora's latest daily income exceeded $137,000, a rare high in the past two years. Before that, due to the sluggish NFT market, Zora was once in a dilemma of a sharp decline in participation. But compared with the revenue from the previous NFT boom, Zora has declined a lot at this stage.

Not only that, Zora's market participation is still limited. Dune data shows that in the past two months, Zora's daily independent creators have remained at tens of millions, and the daily token creations ranged from thousands to tens of thousands. Compared with other MEME currency issuance platforms such as Pump.fun, Zora's market share still has a gap: as of April 16, the market share of Pump.fun and Zora was 74.3% and 25.7% respectively. Within the Base ecosystem, Zora's number of coins issuing only 4%, and its influence is very limited.

This time, Base's issuance of coins was interpreted by the outside world as Zora's creation of momentum. In March this year, Zora announced that it plans to launch native token ZORA on the Base network, with a total supply of 10 billion pieces. The first snapshot was taken at 9 a.m. (East Standard Time) on March 3, 2025, and the second snapshot will be taken three days before ZORA goes online.

Not only that, Zora's operating model fits with Base and Coinbase visions, and each post on the platform is converted into tradable ERC-20 tokens. In fact, Coinbase has been actively promoting the development of the "on-chain creator economy", and has encouraged creators to start projects on-chain and jointly organized Onchain Summer with Base. According to Zora's official disclosure, Zora already has more than 2.4 million collectors and 618,000 creators, creating more than $27.7 million in rewards, driving more than $376 million in transactions in the secondary market.

In general, from ignition, overturning to overturning, this farce-like cultural experiment not only rekindled Base's attention to the MEME market, but also once again demonstrated the absurdity and vitality of the chain culture.