## BASE Meme Coin Sees Extreme Volatility The meme coin "Base is for everyone (BASE)," built on Coinbase's Layer 2 network Base, has experienced significant price fluctuations. Its market capitalization briefly exceeded $17.8 million, fueled by initial hype after its launch around 7:30 AM KST on the 17th. ## Sniper Bots and Price Manipulation Speculation arose regarding the heavy involvement of sniper bots, programs designed to acquire new tokens preemptively. These bots allegedly sold off large quantities at peak prices, contributing to a dramatic price drop. The community criticized Base for a perceived lack of bot countermeasures. ## Price Plummets 90% Adding to the controversy, reports emerged of Base issuing a new meme coin, selling existing BASE tokens, and shifting focus to the new asset. This led to a precipitous 90% decline in BASE's value, from a high of $0.0173 to a low of $0.0007176. Coinbase has denied launching any tokens themselves. ## Current Market Status Despite the volatility, BASE is currently trading at approximately $0.02037 on CoinMarketCap, indicating a partial recovery, but the episode highlights the inherent risks associated with meme coins and the potential for market manipulation. ```