Toshi, Keyboard Cat, and Basenji prices rise as Base DEX volume experiences a spike

Meme coins on the Base layer-2 blockchain are seeing significant growth, with several tokens experiencing substantial price increases and contributing to the blockchain’s overall market expansion. On Friday, Toshi, Keyboard Cat, and Basenji were among the standout performers in the meme coin space, driven by increased trading volume and growing ecosystem adoption.

Toshi, one of the top performers, surged by more than 70%, pushing its market capitalization to over $237 million. This increase placed Toshi as the third-largest meme coin on Base, trailing behind Brett and Akuma Inu. The primary catalyst for this rally was the listing of Toshi on Coinbase, the largest crypto exchange in the U.S., which significantly boosted its 24-hour trading volume to $165 million. According to Nansen data, a major whale purchased over $3.16 million worth of Toshi tokens, further driving its price increase.

Keyboard Cat (Base), another meme coin within the Base ecosystem, experienced a remarkable 46% price increase, lifting its market cap to $8.2 million. Similarly, Basenji Doginme also performed well, with its price climbing by more than 20%. These price surges reflect the growing popularity of meme coins within the Base blockchain ecosystem, which has steadily gained market share in the broader crypto space.

As a result, the Base ecosystem now boasts a total market cap of over $2.5 billion, with meme coins playing a significant role in Base’s growth and evolution. The increased trading activity and adoption have elevated Base from a relatively small layer-2 network to one of the largest layer-2 networks in the crypto industry. According to DeFi Llama, protocols within the Base blockchain handled $1.24 billion in trading volume on Friday alone, and $12.98 billion over the past seven days—marking a 13% increase in volume.

Notably, Base protocols such as Uniswap, Aerodrome, PancakeSwap, and Alien Base have processed over $60 billion worth of transactions in the past 30 days, further driving the blockchain’s expansion. This growth has also translated into higher transaction fees, with the ecosystem generating $10.64 million in fees this year and $93 million over the last 12 months.

The increasing role of meme coins within Base follows a broader trend in the crypto industry, where meme coins have helped to fuel the growth of other blockchain networks as well. For example, meme coins like Official Trump, Fartcoin, and Dogwifhat have contributed to making Solana one of the most active networks in the industry since 2024. According to TokenTerminal, Solana has even surpassed Ethereum in transaction fees this year, demonstrating how meme coins can significantly impact a blockchain’s activity and market standing.

In conclusion, meme coins on Base have played a pivotal role in expanding the ecosystem, driving up trading volumes, market caps, and transaction fees, while propelling Base into becoming one of the largest and most active layer-2 blockchain networks in the crypto industry. This success story mirrors the broader trend of meme coins influencing the growth of blockchain ecosystems across the space.