Three wallets record an astonishing return on investment on the newly created token “Base is for everyone”

Despite a mildly recovering crypto market, profit-hungry investors are still on the lookout for the next big meme coin to ape into and chase elusive gains.

The accuracy of this statement is evident in the instant traction from a new token created on Zora, an on-chain social platform that converts posts to contentcoins, despite past events from the LIBRA token.

For context, Base made an official post on the X platform on Wednesday with the caption "Base is for everyone." A moment later, the Coinbase-affiliated layer 2 network noted it has "coined it" on Zora, sparking a market frenzy.

Coin It: https://t.co/iXmYbZ45xN

— Base (@base) April 16, 2025

The token instantly gained traction, with users pushing its market value first to $17 million. However, the token crashed over 90% as traders began to take profit, recovering massively to hit $22.48 million. At the time of writing, DEXScreener shows the asset boasts a market cap of $14 million, and its price per coin is $0.01541.

Significantly, as the token creators, Base received one million of the "Base is for everyone" tokens (1% of the total supply). The platform clarified that it does not intend to sell the stash but insisted it was not an official network token for Base. At the time of writing, Base has generated over $72,500 as the token's creator.

While there was skepticism surrounding the token, a few users made substantial returns on investments from the meme coin. However, the activities of three wallets caught the eye of the on-chain analytical platform Lookonchain.

The on-chain tracker disclosed that three wallets made insider moves on the token, converting meager inputs into astonishing outputs.

3 wallets bought a large amount of "Base is for everyone" before @base posted and sold them, making a profit of ~$666K.

0x0992 spent 1.5 $ETH($2,370) to buy 256.39M "Base is for everyone", and sold all for 108 $ETH($170.4K), making $168K.https://t.co/1QSP9LDMF8

0x5D9D spent 1… pic.twitter.com/1lrSydphxP

— Lookonchain (@lookonchain) April 17, 2025

According to the data, one of the wallets bought 256.4 million “Base is for everyone” tokens with 1.5 ETH at an average price of $0.009 for a total of $2,370 before Base posted the token on X and sold it a few minutes later for 108 ETH at an average price of $1,574 for a total of $170,400. The sniper purchase saw the wallet make $168,000, an impressive 7,090% uptick.

The second wallet used 1 ETH worth $1,577 to buy 82.86 million of the token at an average price of $0.019 for a total of $1,577 before the announcement, reselling it for 169.7 ETH when the price rose to $0.015 for a total of $267,600. In addition, the third wallet also turned $1,577 into $233,400, recording a 14,700% gain.

Meanwhile, Base has received widespread criticism over the token launch, with users claiming it rugpulled investors. For instance, one user claimed that over 2,500 holders, who are potentially new Base users, lost their resources to the token. Furthermore, he criticized the coin's tokenomics, as three wallets held 47% of its total supply.

However, Base has defended the launch, stressing it was an experiment. The protocol also urged critics to normalize them bringing contents on-chain, arguing that it is the future.

Base is posting on Zora because we believe everyone should bring their content onchain, and use the tools that make it possible.

Memes. Moments. Culture.

If we want the future to be onchain, we have to be willing to experiment in public. That’s what we’re doing.

To be clear,…