Although Mem tokens are speculative and volatile assets by nature, they are undoubtedly the most talked about cryptocurrencies of bull markets.
At this point, while Dogecoin (DOGE) and Shiba Inu (SHIB) were talked about a lot in the bull market in 2021, there are now many new mem tokens and investors are showing great interest.
According to Coindesk's news, while Solana (SOL)-based mem tokens such as WIF have become the most talked about and popular tokens of recent times, mem tokens in Coinbase's Base network have also started to become active.
With this activity, the total locked asset value (TVL) in the Base network has increased from approximately $450 million to $1 billion as of the beginning of this month.
Additionally, transaction activity has tripled from an average of around 500,000 per day in the last few months to over 1.5 million per day.
While this shows that the mem token craze has shifted from the Solana network to the Base network, mem tokens such as Toshi (TOSHI), Base God (TYBG), Normie (NORMIE) and Brett (BRETT), issued on the Base network, have seen tremendous rises.
According to Coingecko data, BRETT has increased by 8000% since its launch on February 27, while TYBG has increased by 170% in the last week.
It was stated that the increasing popularity of Mem tokens on Base's network led to high gas fees and network congestion.
*This is not investment advice.
