NORMIE Token on Base Chain: A Deep Dive into Its Rise, Fall, and Potential Rebirth

Hey meme token enthusiasts! Let’s talk about NORMIE, a meme token on the Base blockchain that’s had quite the rollercoaster ride. If you’re into crypto, especially the wild world of meme coins, you’ll want to buckle up for this story. We’re diving deep into what NORMIE is, its history, the drama, and what might be next for this token.

What is NORMIE?

First off, NORMIE is a meme token designed to bring “normies”—everyday internet users—into the crypto space via the Base blockchain. It’s all about that meme culture, aiming to build a strong community. Imagine a token that’s trying to make crypto more relatable for the average person, and you’ve got the essence of NORMIE.

Key details:

• Token Name: NORMIE
• Token Symbol: NORMIE
• Blockchain: Base
• Contract Address: 0x47b464edb8dc9bc67b5cd4c9310bb87b773845bd
• Total Supply: 1,000,000,000 NORMIE
• Type: ERC-20 token

The Launch and Community Focus

Launched back in March 2024, NORMIE aimed to be more than just another meme token. It focused on community participation, with a goal to make crypto accessible to newcomers. NORMIE is built on the Base blockchain, which has a vibrant ecosystem with various DApps. Base has a strong backing from Coinbase and Optimism, which helps in creating a solid foundation for growth and community support. This gave NORMIE a good base to start with.

The Flash Loan Attack and the 99% Crash

But here’s where things took a dramatic turn. On May 27, 2024, NORMIE suffered a massive flash loan attack. An attacker exploited a weakness in the smart contract, essentially minting extra tokens out of thin air. This led to a 99% price drop and a massive hit to the token’s market cap—which went from over $40 million to a mere $700. Ouch!

The exploit specifically targeted a tax function in NORMIE’s smart contract. The attacker didn’t mince words, calling NORMIE’s contract code a “copy-paste job”, highlighting the critical importance of thorough code audits. This incident served as a hard lesson in the world of meme coins where security can be a major issue.

Recovery Efforts and a New Contract

After the dust settled, the NORMIE team didn’t give up. They negotiated with the attacker and managed to get back 90% of the stolen ETH, which was then used to help with a relaunch. The old contract was abandoned, and a new one was created. The team sent 90% of the tokens to a liquidity pool, burned the LP tokens, and renounced the contract. The remaining 10% is sitting in a multi-signature wallet, earmarked for future exchange listings, bridges, marketing, and liquidity pools.

Controversy and Community Response

It wasn’t all smooth sailing, though. NORMIE also faced controversy when it released a video that depicted suicide. The team stated they didn’t intend to trivialize the issue and removed the video. This incident, combined with the exploit, led to a lot of backlash and suspension of the token’s official X (formerly Twitter) account.

Tokenomics and Current Status

As of today, January 26, 2025, NORMIE is trading at around $0.004528. The price has definitely been on a wild ride, and current trading volume is very low. There’s a 0.1% sell tax, which is used to control the market. Over 24 million NORMIE tokens have been burned to date via a manual burn mechanism.

Key tokenomics:

• Sell Tax: 0.1%
• Buy Tax: None
• Burn Mechanism: Manual

The Normies Platform

Interestingly, the NORMIE token is also associated with the Normies platform. This Indonesian-based platform aims to make web3 more accessible. It provides FIAT on and off ramps, enabling seamless transfers of funds between bank accounts and crypto wallets using various payment methods, including bank transfers, virtual accounts, and digital wallet payments. At its launch, Normies supports cryptocurrencies like ETH, BNB, IDRT, XTZ, USDT, USDC, TON, and Polygon, operating across multiple blockchains including Ethereum, Arbitrum, Optimism, Binance Smart Chain, Tezos, TON, zkSync, and Polygon.

What Does the Future Hold?

NORMIE’s journey serves as a cautionary tale in the volatile world of meme coins. The incident with the exploit showed just how risky things can get without solid smart contract security. The future of NORMIE hinges on the community’s and team’s ability to recover. Relaunch considerations and potential airdrops have been discussed, and the project’s next steps could set the stage for a potential recovery.

Given the current market sentiment, it’s important to do your own research and stay updated, especially if you’re interested in this space. The crypto world can change fast!

Conclusion

NORMIE is a meme token with a story. From its initial vision of bringing newcomers into the crypto world, to the exploit that caused a massive price crash, NORMIE has been through a lot. Now, with a new contract and a community working to rebuild, the future is uncertain but far from over. This token is a good example of the potential risks and rewards in the meme coin space.

So, there you have it—a deep dive into the story of NORMIE. Let us know what you think, and as always, stay informed and stay safe in the crypto jungle!