👊 BASE facing backlash after meme coin crash

Let’s talk about what happened, who’s being blamed, and what it might mean for Coinbase’s L2. 🧠👇


1.
Yesterday, Base (Coinbase’s L2) shared a post on X that said “Base is for everyone.”

Harmless, right?

Well… not quite.

2.
The post included a link to Zora, a platform where posts can be tokenized and traded.

Within the hour, someone minted a token named ‘Base is for everyone’, and it shot up to an $18M market cap.

3.

Then came the dump:
Three wallets holding 47% of the supply sold.
The token crashed 91% down to ~$1.6M.

Community was quick to point fingers at Base.

4.

🔍 Base’s response:

The token wasn’t official.

Zora automatically created it because the original Base post was made on their platform.

So… technically Base didn’t launch it, but they did unknowingly promote it.

5.

The coin has bounced back to an ~$11M market cap — which is wild. But it raises questions:

Should L2s be more cautious with meme exposure?

6.

Final thought:
Experimentation is cool — but when a brand like Coinbase plays in the gray zone, users can get wrecked.

And that blurs the line between “decentralized fun” and “corporate irresponsibility.” 👀

---------------------------------------------

$18M → $1.6M → $11M
Only in crypto, compas!
Was this bad comms or meme coin mischief?

Let me know what you think.
#Base #Coinbase #MemeCoin #CryptoNews