Republican

Donald Trump

Base

Avalanche

Brett, the largest meme coin on the Base Blockchain, surged by over 12% on Monday as positive sentiment spread through the crypto and stock markets. 
At the time of writing, Brett (<a href="https://crypto.news/price/brett/" target="_blank" rel="noreferrer noopener">BRETT</a>) was still up 11.7%, trading at $0.1395, according to data from crypto.news. Over the same period, the meme coin, inspired by a character from the “Boy’s Club” comic, had a daily trading volume of $50.7 million. 
<figure class="wp-block-image size-full">
 <picture loading="lazy" decoding="async" class="wp-image-14287921"> 
 <source type="image/webp" srcset="https://crypto.news/app/uploads/2024/07/BRETTUSDT_2024-07-29_14-10-23.png.webp"> 
 <img loading="lazy" decoding="async" width="928" height="544" src="https://crypto.news/app/uploads/2024/07/BRETTUSDT_2024-07-29_14-10-23.png" alt="BRETT surges 12% to become top gaining meme coin - 11"> 
 </picture> 
 <figcaption class="wp-element-caption">
 BRETT 24-hour price chart | Source: <a href="https://crypto.news/price/brett/" target="_blank" rel="noreferrer noopener">crypto.news</a>
 </figcaption>
</figure> 
BRETT has now become the 71st largest cryptocurrency, with its market cap exceeding $1.38 trillion. Despite this rise, BRETT remains down 27.8% from its all-time high of $0.1939. 
The surge in BRETT follows an increase in Bitcoin (<a href="https://crypto.news/price/bitcoin/" target="_blank" rel="noreferrer noopener">BTC</a>), the largest crypto asset by market cap, which rose by 3.1% over the past day to $69,471 on Monday. This came after Republican candidate <a href="https://crypto.news/trump-bitcoin-2024-keynote-bitcoin-reserve/" target="_blank" rel="noreferrer noopener">Donald Trump revealed plans</a> to make Bitcoin a national strategic asset if elected in November. 
Bitcoin’s 24-hour lows and highs were recorded at $67,320 and $69,842, respectively. 
The meme coin sector also saw minor gains, rising nearly 3.4% in the past 24 hours, with its market cap reaching $55.5 billion. 
 You might also like: <a href="https://crypto.news/experts-tip-rollblock-to-lead-but-fear-for-exchange-tokens-like-bnb-cro/"> Popcat price rebounds as one X user cites the utility of meme coins </a> 
Bitcoin’s performance often influences the broader cryptocurrency market, including meme coins. When Bitcoin performs well, it typically boosts investor confidence and interest in altcoins, creating a positive feedback loop that drives up prices. 
Brett’s rally was also supported by the continued success of the Base blockchain ecosystem. Launched in 2023 by Coinbase, Base has accumulated over <a href="https://defillama.com/chain/Base" target="_blank" rel="">$1.727 billion</a> in defi assets, making it the 6th largest chain in the industry, surpassing popular networks like Cardano (<a href="https://crypto.news/price/cardano/" target="_blank" rel="noreferrer noopener">ADA</a>), Avalanche (<a href="https://crypto.news/price/avalanche/" target="_blank" rel="noreferrer noopener">AVAX</a>), and Polygon (<a href="https://crypto.news/price/polygon/" target="_blank" rel="noreferrer noopener">MATIC</a>). 
Additionally, Brett and other altcoins benefited from a rebound in the US stock market, indicating a risk-on sentiment among investors. The Dow Jones index rose by over 650 points, while the S&amp;P 500 and Nasdaq 100 gained over 55 and 175 basis points, respectively. 
In the past 24 hours, Brett has shown a notable upward trend, as reflected in its price chart. The price climbed steadily from around $0.123 to approximately $0.140, indicating a strong bullish movement. 
From a technical perspective, Brett has formed a morning star pattern, a well-known reversal signal. Historically, the token has seen double-digit gains when this pattern appears. For instance, on July 12, the formation of this pattern led to a 40% increase in the token’s price. 
However, there is a possibility that this rebound could be a dead cat bounce, where an asset experiences a brief rise before resuming its bearish trend. 
 Read more: <a href="https://crypto.news/30-solana-celebrity-memecoins-launched-in-june-most-are-dead/"> 30 Solana celebrity memecoins launched in June; most are dead </a>

BRETT surges 12% to become top gaining meme coin

crypto.news

Andere artikelen gepubliceerd op 29 jul 2024

New Solana Memecoin Trump Fired Biden Will Surge 17,000% Before Exchange Listing, While SHIB and ...

Will Ripple-backed XRP Hit 50 or 70 Cents Next? Details

'Rich Dad Poor Dad' Author Gives Crucial Reason For Saving Bitcoin

Bitwise Announces 10% Donation of Ethereum ETF Profits to Open-Source Developers

Trump Pledges to Hold Bitcoin as Strategic Reserve Asset if Elected President

Record $39.4B Bitcoin open interest suggests imminent price breakout

Meld je aan voor onze gratis nieuwsbrief voor dagelijkse crypto-updates!