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<h3>Fireline Report</h3>
<p>PING's market value exceeded US$70 million, with a 24-hour increase of more than 1000%. The FOMO sentiment in the Base chain community continued to heat up, and the on-chain transaction volume and activity increased simultaneously.</p>
<h3>Trading Guide</h3>
<p>Aggressive short-term traders can follow the market's surge, focusing on increased trading volume and newly added trading pairs. Key levels should be based on the median of the recent fluctuation range. If market sentiment plummets or LP activity is abnormal, investors can reverse their positions and exit the market while they are ahead.</p>
<p style="margin-top: 20px; text-align: left; opacity: 0.4; padding: 0 42px"><small>Updated at 10-25 05:12</small><br><small>AI-generated summary, not investment advice</small></p></div>

<h1>PING token market capitalization has indeed exceeded $16 million, but caution is advised when chasing the rise of Base Chain Meme Coin.</h1><h2> Core Analysis</h2><p> <strong>PING market capitalization confirmed</strong> : The current market capitalization of the PING token is <strong>$19.86 million</strong> (price $0.019866), having indeed broken through the $16 million mark. This is a new token with only 2 days of history (launched on October 22) and is associated with the x402 protocol. <a href="internal_data">batch_search_by_surf</a> <a href="https://m.lookonchain.com/feeds/34207">lookonchain</a></p><h3> PING Token Detailed Metrics</h3><table><thead><tr><th> index</th><th> Numerical</th><th> Remark</th></tr></thead><tbody><tr><td> <strong>Current Price</strong></td><td> $0.019866</td><td> Down 6.72% from its historical high</td></tr><tr><td> <strong>Market capitalization/FDV</strong></td><td> $19.86 million</td><td> Full circulation supply</td></tr><tr><td> <strong>24h trading volume</strong></td><td> $13.4 million</td><td> Strong performance of new currency in 2 days</td></tr><tr><td> <strong>Number of currency holding addresses</strong></td><td> 5,994</td><td> Rapidly growing</td></tr><tr><td> <strong>Total Supply</strong></td><td> 1 billion PING</td><td> 100% circulation, no lock-up</td></tr></tbody></table><h3> Current Status of Base Chain Meme Ecosystem</h3><p> The Base chain was active in October 2024, with TVL increasing by 16% to $2.15 billion. <reference tool_id="call_74486843" category="line_tvl" project="Base" description="Base chain TVL from 2024-10-01 to 2024-10-31"/> About 800,000 new Meme tokens were created that month, but 90% of them eventually failed. <a href="internal_data">batch_search_by_surf</a></p><table><thead><tr><th> Ranking</th><th> Tokens</th><th> Market capitalization (end of October)</th><th> 24h trading volume</th><th> October increase</th></tr></thead><tbody><tr><td> 1</td><td> BRETT</td><td> ~$1.9 billion</td><td> 44-71 million</td><td> +50%</td></tr><tr><td> 2</td><td> SPX6900</td><td> ~$957 million</td><td> 100 million+</td><td> +25%</td></tr><tr><td> 3</td><td> TOSHI</td><td> ~$302 million</td><td> 4-10 million</td><td> +80%</td></tr><tr><td> 4</td><td> DEGEN</td><td> ~40-70 million</td><td> 9-10 million</td><td> +160%</td></tr></tbody></table><h2> Risk Assessment Analysis</h2><h3> PING Token Specific Risks</h3><p> <strong>Whale Concentration</strong> : The top 20 holders control 25.8% of the supply, with the largest holder holding 7%. While relatively dispersed, there has been an increase in large sell-offs recently (net outflow of $380,000 USD by large holders in 24 hours <a href="internal_data">)</a> .</p><p> <strong>Liquidity Status</strong> :</p><ul><li> The main pool PING/USDC TVL is approximately US$2.1 million</li><li> Spread across more than 30 pools, increasing the risk of manipulation</li><li> Supports $6.3 million in daily trading volume with slippage controlled within 5%</li></ul><h3> Base Chain Meme Overall Risk</h3><p> <strong>Competitive Pressure</strong> : Solana still leads Base in meme coin trading volume by 3-4 times, and has deeper liquidity and tool support. However, Base, with its Coinbase endorsement and low fees, dominates the L2 meme market.</p><p> <strong>Market saturation</strong> : 800,000 new coins were created in October, but 70% of them fell by more than 50% after the hype. This shows that the market is highly saturated and the probability of success of new projects <a href="internal_data">is</a> extremely low.</p><h2> Investment Advice</h2><h3> Can the Base chain Meme coin still be pursued?</h3><p> <strong>Short-term bullish factors</strong> :</p><ul><li> Base TVL continues to grow and the ecosystem is highly active <reference tool_id="call_74486843" category="line_tvl" project="Base" description="Base chain TVL from 2024-10-01 to 2024-10-31"/></li><li> Coinbase official support provides institutional trust</li><li> Leading projects such as BRETT and TOSHI are still expected to go public</li><li> Community sentiment is generally optimistic, and KOLs continue to be bullish <a href="https://x.com/bullorochanel/status/1858189524569821686">on x.com</a></li></ul><p> <strong>Warning signs</strong> :</p><ul><li> 90% of new projects fail</li><li> New coin whales such as PING began to take profits</li><li> Transaction volume still lags behind Solana</li><li> Regulatory risks persist</li></ul><h3> Specific operational suggestions</h3><p> <strong>If considering participating</strong> :</p><ol><li> <strong>Position control</strong> : 5-10% of the total portfolio, considered high-risk speculation</li><li> <strong>Timing</strong> : Avoid FOMO peaks and wait for a 20-50% pullback before entering the market</li><li> <strong>Project screening</strong> : Prioritize projects that have been audited, have locked liquidity, and are growing organically.</li><li> <strong>Stop-loss strategy</strong> : Set a 15-20% stop-loss and exit when you make 2-3 times the profit or when whales sell off.</li></ol><p> <strong>PING specific risks</strong> : As a new 2-day coin, while the x402 protocol is novel in concept, it lacks practical applications and is driven purely by speculation. We recommend caution or a small position to test the waters.</p><h2> in conclusion</h2><p> PING has indeed surpassed $16 million in market capitalization, currently reaching $19.86 million. Base Chain meme coins still have potential in the short term, but the risks are extremely high. We recommend adopting a &quot;small bet for fun&quot; strategy, focusing on leading projects like BRETT and TOSHI, and avoiding chasing newly launched coins like PING. The market is showing signs of saturation, significantly reducing the probability of success.</p>


The market capitalization of the x402 protocol meme coin PING continues to hit new highs. Can the Base chain monster coin still catch up?

 The x402 protocol meme coin <strong>PING&#39;s</strong> market capitalization continues to hit new highs. Is there still room for Base Chain&#39;s monster coin to catch up?