Summary
TLDR: The developer behind the BALD meme coin burned 60% of its total supply, causing a 60% increase in value. This move has sparked debates in the crypto community. Other meme coins on Coinbase’s Base network also saw increases in value following the BALD token burn.
Key Points
1. The developer behind the BALD meme coin burned 600 million tokens, which accounted for approximately 60% of its total supply.
2. This token burn resulted in a significant 59% price increase for BALD in less than 24 hours, with the coin’s value soaring from $0.03489 to $0.05675.
3. The action taken by the developer has sparked debates within the crypto community about their intentions and the future direction of BALD.