Base Token’s Short-Lived Success Sparks Rug Pull Concerns

A recently launched meme coin on the Base blockchain suffered a swift downfall, plummeting just minutes after reaching a market cap of $17 million. This sudden crash has prompted accusations of a possible rug-pull, with suspicions focusing on three dominant wallets controlling over 47% of the total supply. Pump.fun co-founder acknowledges that the team’s timing for launching this asset may have been ill-advised in light of the challenging market conditions.