[Base Chain Meme Token Basecat Surges Over 18x in 24 Hours, Market Cap Once Exceeded $20 Million] BlockBeats News, August 17: According to GMGN data, the Meme token Basecat on the Base chain hit a historical high this morning with a market cap surpassing $20 million. Its current market cap stands at $13.6 million, with a 24-hour trading volume of $27.7 million, marking an over 18x increase in 24 hours. Recently, the official Base App account has frequently posted cat-related content with a highly meme-like style. The community believes this shift in style is related to Base App being taken over by individuals associated with Cobie. In response, Basecat was quickly deployed on the Base chain to capitalize on the "official cat narrative." Note that this token is not officially issued or endorsed and is purely a community-issued token. BlockBeats reminds users that Meme tokens often lack practical use cases, are highly volatile, and require cautious investment.