Meme-themed cryptocurrencies’ perception has changed from a low market cap and volatile digital assets to the most demanded ones in the market. In the last few months, many celebrities, influencers, and crypto platforms like Binance and Donald Trump have launched meme-themed cryptos. Adding to the same hype, the famous crypto exchange Coinbase has also presented the FROC meme coin. More importantly, it is competing with the Binance meme coins like Broccoli and TST, which are facing their share of volatility and controversies. Let’s discuss whether this FROC token can succeed where others failed.
What is Coinbase Meme Coin and Why It Is Getting So Much Hype?
Amid the meme-themed cryptocurrency frenzy, a Coinbase employee could not ignore the FOMO and launched the Based Froc (FROC). Interestingly, the Coinbase exchange acknowledged it, as the firm has actively promoted the token. Soon, the market realized the association, calling it the Coinbase meme coin.
As a result, the FROC meme coin gained instant recognition, with investors anticipating it would reach a market capitalization of $100M. Although the token currently trades only at $0.0002108 with a market capitalization of $21.0M, analysts predict a higher milestone.
Interestingly, this target is built considering the hype TST and Broccoli received. The first reached a market cap of $500M before losing its bullish trajectory.
Regarding the topic, FROC has been launched on the Base network and is listed by various top crypto exchanges. Overall, this token will assist Coinbase in capturing meme coin momentum.
Can FROC Meme Coin Succeed Where Broccoli Failed?
The social media discussion and analysts’ take on the Coinase meme coin launch explains that the exchange’s launch is more of strategic intent, unlike Binance. This is because Binance chaotically launched the Test meme coin, and even former Binance CEO Changpeng Zhao criticized the TST launch.
Also, Broccoli is a CZ dog-inspired meme coin and is not connected to the exchange or the former CEO, so the hype plummeted. However, Coinbase’s strategic launch could help it achieve higher heights as an attempt to demonstrate the Base chain’s capabilities. Interestingly, at the same time, the Coinbase wallet engaged in the metadata update for ERC-2O, which would simplify the token’s visibility and usability.
Coinbase has already taken several measures to cater to the success of this meme-themed crypto. This includes the possibility of institutional investors (aligned with the base) injecting liquidity into the Coinbase meme coin. If this happens, this could provide much better stability to this token, especially compared to Binance’s Broccoli.
Another critical point to notice is that Coinbase is using Clanker for FROC. This will provide more equitable distribution instead of other meme coin launches favoring early insiders. Last but not least, the factor that could contribute to the FROC meme coin surpassing Broccoli is the timing.
In the present scenario, CZ-inspired coins are struggling; the same is true for TST. Amid this, the launch of FROC could gain all the attention, especially as it integrates it into the Base ecosystem development.
What Failed Binance’s Meme Coins?
The most notable point is that Broccoli is not Binance’s or CZ’s token. Instead, it is a token launched along with 20k similar meme coins based on CZ’s dog, Broccoli. This flood of copycat tokens diverted market attention and created competition among themselves.
Due to that, Broccoli is struggling on the charts because it lacks utility and driving force. Interestingly, TST is not much behind that. At first, it gained big spikes, but the trajectory diverted as investors lost confidence. Even CZ has criticized this situation and committed to helping Broccoli and TST victims.
Critics claim that Binance’s meme strategy depends on hype rather than a sustainable market, which is why FROC differs.
Could Coinbase Meme Coin Avoid the Same Fate?
Like most newly launched meme coins, the Coinbase’s Based Froc is getting a lot of hype. However, some experts claim to witness different results or successes of this token due to FROC’s integration into the Base ecosystems. This might facilitate continuous engagement even after the early hype settles.
However, there’s always uncertainty and doubt, as many believed TST or the Broccoli would end the meme coin frenzy. Investors must DYOR and implement necessary trading strategies to ensure better results.
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