In parallel, four of the five decentralized exchanges on the Base platform showed growth. Trading volume on leading exchange Uniswap increased by 147%, reaching $405.09 million.
Previously, some industry experts have expressed criticism of the meme coin boom, fearing a possible bubble burst. The founder and CEO of CryptoQuant, Ki Yoon Joo, expressed concerns about the negative impact of such projects on the crypto industry. He compared the situation to the ICO mania in 2018, which left many investors with losses.
In contrast, Maartje Bas, head of research at Messari, opined that meme tokens play an important role in attracting new users to the cryptocurrency space. This view of the benefits of meme tokens for the industry is also shared by former BitMEX CEO Arthur Hayes and macro investor Raoul Pal.