BuildOnBase has seen a huge hype and over $80m worth of $ETH were bridged to BASW mainnet đŸ”” Everything started with huge meme coins hupe there and with $BALD growing faster than any other meme coin in history.

Please take a good look at the first wallet in the list with over $17m bridged. He is the creator of $BALD and one of the biggest ruggers in history. Anyway, let's go step by step 👇

Yesterday marked the launch of $BALD, which quickly gained popularity and became one of the fastest-growing meme coins to date. This cryptocurrency is named after brian armstrong, the founder of coinbase

Today was a solid day as liquidity for the meme coin soared to over $35m, which is exceptionally high 📈 The big whales behind $BALD kept pouring their investments into it, contributing to its success. 💾 

Today, the individual in question made the decision to withdraw liquidity, causing significant losses for those holding $BALD. The LP (liquidity pool) was drained, resulting in a sharp decline in token price, almost reaching zero. 

For reference, you can find the transaction details of their withdrawal of over 6,000 ETH here:

https://basescan.org/tx/0xf885a5862e8b75a8ab7c5dd66cf7c17692efd9dc784936e44d6feed4cafc5239

After successfully pulling off a rug, he now holds over $25m worth of $ETH on @BuildOnBase, which accounts for more than one-third of the entire bridged $ETH 💀 Although he has earned millions from this rug, he is currently unable to withdraw the $ETH to the mainnet.

The big problem? No locked liquidity 🔐 That means whales can control the supply and pull out all the funds whenever they want. Watch out! 

The best solution here would be to trade the pairs where the liquidity is locked via UNCXtoken. Here is an example of how it looks on DEXToolsApp 👇

It's a good thing but on Base, everything was super raw and you couldn't even prove the contract. This means that if the contract is not verified you could have bought a honeypot. Honeypot means that you can buy but can't sell. 

Here is an example of checking a contract before apeing into it. Yes, you can lose momentum but you will have full ownership over your funds. Locked liquidity + verified contract = safe degening 🐬