🌎 Brett Meme Coin Surges 25% Amid Whale Purchase

Brett Meme Coin Surges 25% Amid Whale Purchase and Crypto Market Resurgence

Brett, the largest meme coin on the Base Blockchain, has seen a significant price increase over the past two days. This surge is largely attributed to a whale investor’s purchase of $1.7 million worth of Brett tokens, as well as the ongoing resurgence in the crypto market following the Christmas holiday season.

According to on-chain data, the whale investor now holds $2.1 million in Brett tokens. This substantial purchase, combined with the overall cryptocurrency market optimism, has contributed to Brett’s 25% increase from its December lows. The meme coin has surged to $0.1350, with its market performance mirroring that of the Base layer-2 network.

Crypto Market Optimism and Catalysts

Several potential catalysts are driving investor optimism, including the upcoming inauguration of Donald Trump, anticipated changes at the Securities and Exchange Commission, and the distribution of funds from the FTX estate. These factors have contributed to the rally in meme coins, pushing the total market cap of the sector to over $117 billion.

Among the top-performing meme coins are Bonk, Dogwifhat, Fartcoin, and Popcat. The Base layer-2 network, launched by Coinbase in 2023, has become the largest L2 network in terms of Decentralized Finance total value locked and DEX transaction volume.

Brett Price Patterns and Potential Gains

Technical analysis of Brett’s daily chart reveals a falling wedge chart pattern, a highly popular reversal pattern. A rebound is likely to occur when the two converging trendlines are nearing their confluence, which happened recently. The retreat was also part of the handle section of the cup and handle pattern.

If the cup and handle pattern holds, Brett could potentially rise to $0.3335, representing a 141% gain from current levels. A sustained move above $0.20—the upper boundary of the cup—would confirm this bullish outlook. Conversely, a drop below the lower edge of the wedge at $0.10 would invalidate the positive outlook for Brett.

Key takeaways for investors include:

Monitor Brett’s price movements and the overall crypto market trends.
Keep an eye on the whale investor’s activity and its impact on the market.
Consider the potential catalysts driving investor optimism and their effects on the market.