pennycoin memecoin: Base $PENNY Runs 3,200% in a Red Market

The pennycoin memecoin ($PENNY) is one of the few Base launches that kept running this week while the rest of crypto bled. sasa listed it among Base's top gainers on both November 12 and November 13, and DexScreener showed it near a $299K market cap at about 06:00 UTC on November 13, up more than 3,200% in 24 hours.

What actually happened

There is no big headline behind this one. The pennycoin memecoin is a small Base launch that caught a wave of trench attention while Solana memecoins were busy with Nvidia scandal tickers. Base traders on X framed it as a "Base trenches" revival play, with some tagging Base's official accounts and Jesse Pollak in replies asking Base to "send" it.

The numbers are real but small. sasa's token page shows the contract ending in 05de on Base, first traded on November 12. Its daily rows show a close near $0.000262 on November 12 with about $1.97 million in volume, and a close near $0.000303 on November 13 with about $2.9 million, at caps of roughly $262K and $303K. sasa's token check found no buy or sell tax.

DexScreener's view around 06:00 UTC matched closely: price near $0.000299, cap near $299K, liquidity near $93K, about 3,534 buys and 2,742 sells in 24 hours, and a one-hour move of about minus 11%.

Two contracts, one name

There is a complication. A second $PENNY contract on Base, ending in 9801, was being shilled on X on November 12 and showed about $707K in volume and a $141K cap on DexScreener. There is also a Solana PennyCoin with almost no liquidity. Same name, different tokens. Anyone buying by ticker alone could easily pick the wrong one.

How healthy is the pennycoin memecoin flow

One on-chain watcher on X flagged on the afternoon of November 12 UTC, without naming a contract, that $PENNY's volume was about 13 times its liquidity, calling that churn ratio hard to square with organic trading, and rated conviction low. At our snapshot, 24-hour volume of about $2.97 million against about $93K of liquidity is roughly 32 times, by our math.

High volume-to-liquidity ratios are common in fresh launches and do not prove anything on their own. They do mean the price can move a lot on modest orders, in both directions. With 6,000-plus trades a day, the average trade is under $500, which looks more like many small wallets than a few whales. That is a pattern read, not a verdict. It also says nothing about who holds the supply; neither sasa nor DexScreener showed us a holder breakdown we could rely on for this contract, so we are not guessing at concentration.

Small caps with fast churn can double in an hour and halve in the next. Liquidity, not market cap, tells you how hard it is to get out.

Base memecoins in context

Base has had a quiet stretch for memes compared with Solana and BNB Chain. Our base oil memecoins piece covered an earlier wave of oil-themed Base tokens, and fotf memecoin looked at another Base launch. sasa's Base board for November 13 still shows many of those oil-fund style tokens with near-zero volume, while $PENNY was one of the few gainers with real trading.

What to do as a reader

The pennycoin memecoin is a tiny, high-risk Base token with no stated product. Nothing here is a recommendation.

1. Check the contract. The token we tracked ends in 05de on Base. Others named pennycoin are different assets.
2. Look at liquidity first. About $93K of liquidity is thin; large orders will move the price.
3. Watch the one-hour candles. The token was already sliding about 11% in the hour we checked.
4. Size for zero. Most small memecoins do not hold early gains for long.

Figures are from sasa and DexScreener around 05:30–06:00 UTC on November 13 and can change fast.