Hey meme enthusiasts! Ever heard of ROOST? It’s making waves on the Base chain, and we’re diving deep to give you the lowdown. Think of this as your insider’s guide to everything ROOST. Let’s get started!

What is ROOST?

ROOST is a token, specifically a meme coin, that lives on the Base blockchain. If you’re new to Base, it’s a layer-2 scaling solution built on top of Ethereum, designed for faster and cheaper transactions. The token address is 0xed899bfdb28c8ad65307fa40f4acab113ae2e14c, which you can verify on Basescan. It’s relatively new, and like many meme coins, it’s attracting a lot of attention.

Key Details about ROOST

• Token Symbol: ROOST
• Contract Address: 0xed899bfdb28c8ad65307fa40f4acab113ae2e14c
• Chain: Base
• Type: Meme Coin
• Total Supply: 1,000,000,000 ROOST

ROOST’s Place in the Base Ecosystem

ROOST benefits from being on the Base chain due to its low transaction fees and fast processing times. This is typical for meme coins, which often rely on rapid, low-cost transactions. ROOST aims to capitalize on this, much like other meme coins such as BRETT that have seen success in the Base ecosystem.

What Makes ROOST Tick?

Tokenomics

While detailed distribution data isn’t publicly available, we know a few things:

• ROOST had an initial supply of 1 billion tokens.
• There’s been a migration from an old contract to a new one. This could be for various reasons, such as an upgrade or a security fix, but it’s worth keeping an eye on.

Fees & Staking

• Buy/Sell Fees: Be aware that ROOST has transaction taxes. The sell tax is notably high at 31%. This can significantly affect your trading strategy, potentially reducing profit or hindering liquidity.
• Staking: Interestingly, ROOST saw $1.9M staked within just three hours of its launch. This indicates strong initial interest in earning passive income through staking or yield farming.

Community and Social Buzz

One thing ROOST has going for it is a vibrant community. Described as having one of the most engaged communities on the Base chain, it’s making waves on social media. This kind of community engagement is vital for meme coins, as it drives the hype and adoption.

ROOST vs. Other Meme Coins

How does ROOST stack up? While there are no clear utilities for the token yet, its community-driven approach and presence on the Base chain put it in a similar realm as BRETT, BTFD, and Notcoin. However, the 31% sell fee is a stark difference.

Market Snapshot

As of our last check:

• Current Price: ~$0.001225 USD
• Market Cap: ~$1,147,714 USD
• 24-hour Trading Volume: ~$19,248.42 USD

You can find ROOST on decentralized exchanges like Uniswap V2 on Base, as well as on centralized exchanges like CoinEx and MEXC.

Risks and Considerations

Investing in ROOST, like any new meme coin, comes with risks:

• High Volatility: Meme coins are known for extreme price swings. Be prepared for the roller coaster.
• High Fees: The 31% sell tax could reduce trade volume and profitability.
• Security Concerns: Be careful of any contract migrations. Ensure the new contract is secure.
• Market Manipulation: Like all tokens, ROOST could be subject to price manipulation by bots, which can affect stability.

What’s Next?

The team behind ROOST is actively engaging with the community and Base ecosystem. While a detailed roadmap isn’t available, we’ve seen them actively listing on exchanges and boosting their community. ROOST is trying to establish itself as a champion of Base.

Conclusion

ROOST is a new meme coin with potential for growth, but it also carries the risks typical of its type. Its strong community on the Base chain is a big plus, but the high transaction fees, market volatility, and potential for rug pulls are serious concerns.

Disclaimer: We’re not financial advisors. This report is just for informational purposes. Always do your own research before investing in any cryptocurrency. Things can change quickly in the crypto world.

So, there you have it. ROOST in a nutshell. If you’re navigating the world of meme coins, stay informed, stay careful, and always keep your eyes on the latest developments. Happy meme-ing!