Brett price has defied gravity in the past few weeks as demand for the token soared and after some notable news in the ecosystem. The meme coin soared to a record high of $0.95 on Thursday, 320% above its lowest swing in May. Its market cap has soared to over $900 million, making it the sixth biggest meme coin after Dogecoin, Shiba Inu, WIF, Floki, Bonk, and Book of Meme.
Latest Brett news
BRETT, the biggest meme coin on Base Blockchain, has performed well in the past few weeks as demand for most tokens soared. Most meme tokens like WIF, Floki, and Pepe have risen sharply and outperformed big cryptocurrencies like Bitcoin and Ether.
BRETT token rally also happened after the meme coin expanded in the Seamless Protocol, one of the biggest players in the Base Blockchain with a total value locked (TVL) of over $25 million. According to its website, Seamless has a total market size of over $75.74 million, a big number for a network that was launched recently.
The token is initially available as a supply only, meaning that users can earn future rewards by depositing it. The other popular assets in the Seamless Protocol are ETH, WETH, Coinbase Wrapped Staked ETH (cbETH), and USD Coin.
BRETT token price is also soaring because of its special role in the Base network. Traders believe that it can replicate the success of other meme coin pioneers in similar blockchains like Solana and Ethereum.
Ethereum meme coins like Shiba Inu and Pepe have become $16 billion and $8 billion assets while WIF, BONK, and Book of Meme are giants in the Solana ecosystem.
Brett price forecast
Turning to the 4H chart, we see that the price of Brett has been in a strong uptrend in the past few weeks. It has soared from a low of $0.022 in April to the current $0.095. The token has flipped the crucial resistance level at $0.072, its highest swing on April 21st.
The Brett token has remained above the 50-period and 25-period moving averages and the Ichimoku cloud indicator. Therefore, I suspect that the token will continue rising in the near term as buyers target the crucial resistance at $0.10.
A key risk in the market is that there are signs that central banks will not slash rates at a faster rate than initially expected. That explains why US equities have pulled back sharply in the past two days. As such, the token may pull back as some traders take profits.
