Meme coin BALD has made waves in the crypto world with its astounding gains after launching on Base, a layer-2 chain created by Coinbase on Ethereum. Within just 24 hours, BALD reached a market cap of $70 million, shocking investors and traders alike.
The current price of BALD stands at $0.06, representing a 70% increase in value over the past day. However, it was the initial launch that caught the attention of the crypto community, as the meme coin experienced a staggering 40,000% jump in price.
According to data from CoinGecko, over $66.7 million worth of BALD has been traded in the last 24 hours, with more than 14,000 transactions. BALD is listed on the DEX platform LeetSwap, where it trades in the BALD/WETH pair.
Notably, blockchain sleuth Lookonchain reported that some investors managed to capitalize on BALD’s meteoric rise. One example involved four addresses that used 0.534 ETH (equivalent to roughly $1,000) to purchase 50 million BALD. These transactions took place within minutes of BALD’s launch and accounted for 50% of the total supply. The addresses then quickly sold 37 million BALD, resulting in a substantial return of 554 ETH (over $1 million).
In addition to these successful trades, a PEPE whale acquired 13.6 million BALD worth $937,000 after selling 720.8 billion PEPE for approximately $943,000. The PEPE whale currently holds the largest number of BALD tokens, second only to the developer.
BALD’s incredible gains reflect the speculative nature of meme coins and the potential for massive returns in a short period. However, it is crucial to note the risks associated with such investments. Meme coins often experience extreme volatility and can be subject to pump-and-dump schemes or market manipulation.
As always, investors should conduct thorough research and exercise caution when dealing with meme coins or any other high-risk investments. It is advisable to consult with financial professionals before making any investment decisions.
In conclusion, BALD’s impressive gains following its launch on Base have sparked both excitement and caution in the crypto trading world. With a market cap of $70 million and significant trading volume, this meme coin has caught the attention of traders and investors looking for quick returns. However, it is crucial to approach meme coins with caution and conduct thorough research before considering any investment.