[exfascist]

I'm still not convinced it isn't partially related to the word "base" as in "bad" or "cool" which has been used for a pretty long time.

[fullshark]

I think its origin is being high on crack cocaine (freebase) and feeling good as a result

[newbamboo]

From “All your base are belong to us.” Not a new term. It’s a gamer thing.