BEARISH 📉 : Base co-founder denies manipulation amid meme coin price surge

Key Highlights:

Jesse Pollak, co-founder of Base, clarified that the Base team does not engage in behind-the-scenes activities to influence token prices.
Pollak emphasized that manipulating asset prices conflicts with market rules and could be illegal.
Base focuses on enhancing visibility and access for strong applications and tokens without affecting price action.

COK Token Surge

The Cat Own Kimono (COK) meme coin experienced a 200% increase in activity recently, reaching $5 million in trading volume.
COK became one of the top trending tokens on DEX Screener.
Crypto commentator Bill noted the surge but criticized Base for not pushing projects to high market caps.

Meme coins often achieve large market caps through speculative trading, leading to increased rugpull cases.
High-profile collapses include HAWK and LIBRA tokens, with significant losses reported.
Exchanges are now more cautious when listing meme coins due to potential manipulation and disputes.
Base faced scrutiny following a meme token crash linked to its platform, later clarifying no official support was involved.
Base disassociates from any schemes involving paid promotion or false brand associations.