Coinbase's Ethereum layer-2 scaling solution Base has seen a surge in memecoin trading, with tokens like "BALD" experiencing gains of up to 289,000% within the first 14 hours of trading. However, these tokens have no official website, purpose, creator, or utility, and investing in them should be treated as gambling adjacent. Some investors managed to score a 100,000% return on a relatively small initial investment, but there is also the potential danger of scams, rug pulls, and severe financial losses.

Interacting with tokens on the Base network requires investors to send their ETH to a Coinbase developer contract address and then swap that ETH into the token of their choice on a specialized decentralized exchange such as LeetSwap.