Base content coin trading has experienced big pump and big dump within 24 hours, raising doubts about the profits made by three Wallets that bought in advance.

Gate.io News bot message, Base recently released a post in collaboration with Zora, which automatically generated tradable Tokens. The market capitalization of these Tokens rose from 0 to $17 million in 69 minutes, before falling by about 90%.

The data shows that the three unknown wallets had made a large number of purchases before the official announcement and sold them at the price high, making a profit of $666,000. Base calls this an "on-chain culture" experiment and distinguishes between the concepts of "content coins" and "meme coins". Among them, Content Coins represent a single piece of content and have no high expectations, while Meme Coins aggregate content and have high expectations.

The community has questioned this event, believing that retail investors suffered significant losses in the process, while Base profited from transaction fees without bearing corresponding responsibilities. On the same day, another Token launched by Base also experienced a fall.

Source: wublock123