Brett [BRETT], a well-known memecoin based on Base, has recently broken out of a period of consolidation and has successfully retested its support levels.
Nevertheless, at the current moment, it appears to be facing hurdles in moving upwards, which could be attributed to the relatively slow weekend trading environment.
Despite this temporary setback, there is a sense of optimism that the price movement will resume its upward trajectory, given its strong position and recent performance.
In the past week, BRETT has experienced a 15% increase, and over the last 30 days, it has seen a 31% rise, with major holders dominating the market, indicating a growing interest as we progress through the final quarter of the year.
Forecast for BRETT’s Price Movements
The recent price actions of Brett, following its breakout from a wedge consolidation pattern, suggest a potential for further gains once the weekend trading activates.
Being the primary memecoin on Base, it stands to benefit from a significant share of liquidity within this ecosystem.
Moreover, the weekly chart displays a substantial wick, signaling robust buying pressure for BRETT, which could potentially drive the price higher when trading volume picks up.
Profitability and Trading Volume
According to the analysis of In/Out of the Money, 44.18% of memecoin holders are currently in profit, with the most lucrative addresses falling within the price range of $0.081407 to $0.089350.
This translates to a total of 302,000 addresses in profit, while 50% of traders find themselves at a loss, accounting for 342,000 addresses. Around 6%, or 38,000 addresses, are presently trading at breakeven.
With a circulating supply of 9.91 billion tokens and a maximum supply capped at 10 billion, the tokenomics of BRETT remain appealing to investors seeking long-term growth.
As the leading memecoin on Base, Brett enjoys substantial market engagement.
The market activity of Brett continues to gain momentum, with the market cap reaching $1.1 billion and the 24-hour trading volume climbing to $85.5 million, marking a 12.4% increase as reported by CoinMarketCap.
The volume-to-market cap ratio stands at 7.7%, indicating a healthy liquidity flow. This ratio suggests that Brett possesses controlled and sustainable liquidity, positioning it as a stable asset within its category.
With the markets anticipated to pick up pace post the weekend lull, BRETT is poised for a potential surge, driven by the growing interest surrounding it.
Brett’s recent breakout from consolidation and successful retest offer a strong groundwork for future growth, with investors closely monitoring whether the price movement will trend upwards.
With favorable market indicators and robust liquidity, BRETT has the potential to sustain an upward trend, particularly as market activity resumes.