Viral Meme Coin BALD Rug-pulls on Base But Crypto Experts Say This Lesser Known Coin Will Be the Next to Pump 100x

Coinbase Meme coin Scam
Ad Disclosure
Ad Disclosure

We believe in full transparency with our readers. Some of our content includes affiliate links, and we may earn a commission through these partnerships. However, this potential compensation never influences our analysis, opinions, or reviews. Our editorial content is created independently of our marketing partnerships, and our ratings are based solely on our established evaluation criteria. Read More
Last updated:
Ad Disclosure
Ad Disclosure

We believe in full transparency with our readers. Some of our content includes affiliate links, and we may earn a commission through these partnerships. However, this potential compensation never influences our analysis, opinions, or reviews. Our editorial content is created independently of our marketing partnerships, and our ratings are based solely on our established evaluation criteria. Read More
Author
Joel Frank
Author Categories
About Author

Since graduating with a degree in economics from the University of Birmingham in 2018, Joel has worked as a financial market/cryptocurrency analyst. He firmly believes that emerging crypto technology...

Last updated:
Why Trust Cryptonews
Cryptonews has covered the cryptocurrency industry topics since 2017, aiming to provide informative insights to our readers. Our journalists and analysts have extensive experience in market analysis and blockchain technologies. We strive to maintain high editorial standards, focusing on factual accuracy and balanced reporting across all areas - from cryptocurrencies and blockchain projects to industry events, products, and technological developments. Our ongoing presence in the industry reflects our commitment to delivering relevant information in the evolving world of digital assets. Read more about Cryptonews
Ad DisclosureWe believe in full transparency with our readers. Some of our content includes affiliate links, and we may earn a commission through these partnerships. Read more

$BALD, a brand new meme coin built on Coinbase’s Ethereum layer-2 scaling solution Base, experienced a stunning crash earlier on Monday, after enjoying a similarly stunning rise over the weekend.

After hitting fresh all-time highs around $0.97 and a market cap of close to $100 million earlier in the day, $BALD suddenly fell 90% and was last trading under $0.20.

The crash was attributed to concerns that the meme coin had turned into a dreaded so-called “rug-pull”, with the token’s issuer thought to have made off with substantial decentralized exchange (DEX) liquidity.

$BALD reportedly held as much as $32 million worth of ether (ETH) in its DEX liquidity pool earlier on Monday.

However, crypto experts said that $BALD’s developers then proceeded to remove 7,000 ETH tokens.

Clearly, $BALD was a scam meme coin, designed to attract a swarm of retail investors after posting impressive early gains, only to them dump on them with a liquidity pull.

$BALD should serve as a lesson to meme coin investors about the risks involved in this market.

Never invest in a meme coin unless you have been able to scrutinize its contract using a platform like DEXTools.

That way you can ensure that a token’s developer hasn’t given themselves any unfair powers, such as the ability to mint more tokens, raise/change buy or sell taxes, freeze trade, limit trade, or blacklist any wallets.

Moreover, always look for meme coins with liquidity that has been locked, which DEXTools should also indicate.

Crypto Experts Say This Lesser Known Coin Will Be the Next to Pump 100x

While $BALD did end up as a rug pull, that doesn’t mean it didn’t make some of its earlier investors rich.

A meme coin investor who goes by the name of @cheatcoiner.eth appeared to turn an initial $500 investment into $1.4 million.

Meanwhile, as per @Lookonchain, four addresses turned 0.534 ETH to 554 ETH in one day.

Fervour amongst meme coin degens hunting for the next 100 or 1,000x investment opportunity is thus set to remain elevated.

And some crypto experts think they have found the next meme coin to pump – Hairy Token ($HAIRY).

$HAIRY is up a stunning 7,000% in the last 24 hours, as per DEXTools and currently has a market cap of over $700,000 with nearly 300 holders.

And meme coin degens can at least rest assured that this token isn’t a scam like $BALD was.

As can be verified on DEXTools, $HAIRY’s liquidity is locked, its contract is verified, it isn’t a honeypot, there are no buy or sell taxes and no unfair advantages for the contract developer, who has renounced the contract (meaning they no longer have any control over the project or token).

With its still small market cap and rug pull-proof contract, $HAIRY might be able to win over scorned $BALD investors and surpass the $100 million market cap that its rival secured.

More Articles

DeFi News
From $10K to $75K: How Dave Portnoy Pumped and Dumped a Meme Coin on His Followers
Hassan Shittu
Hassan Shittu
2025-02-07 23:50:53
DeFi News
Donald Trump’s World Liberty Financial Set to Create Strategic Crypto Reserve: Report
Julia Smith
Julia Smith
2025-02-07 23:19:22
Crypto News in numbers
editors
Authors List + 66 More
2M+
Active Monthly Users Around the World
250+
Guides and Reviews Articles
8
Years on the Market
70
International Team Authors