- BRETT’s price fell despite a bullish breakout.
- Nearly half of global addresses with Brett make money.
Brett [BRETT]a popular Base-based memecoin, recently broke out of consolidation and successfully retested its support levels.
However, at the time of writing, the index was struggling to move higher, possibly due to sluggish market activity over the weekend.
Nevertheless, there is optimism that price action will resume its upward momentum given its strength and recent performance.
Over the past seven days, BRETT is up 15% and up 31% over the past thirty days, with top holders dominating the market. This indicates growing interest as the final quarter of the year progresses.
BRETT price prediction
Brett’s recent price action, after breaking the wedge consolidation pattern, shows potential for further gains once trading activity picks up over the weekend.
Being the main memecoin on Base, it is poised to benefit from a significant portion of liquidity from this ecosystem.
Additionally, the weekly chart showed a large wick, indicating strong buying pressure for BRETT, which could push the price higher once trading volume increases.
Source: TradingView
Profitability and volume
Looking at the money in/out, 44.18% of traders who owned the memecoin made a profit, with the most profitable addresses in the price range of $0.081407 to $0.089350.
This equates to 302,000 addresses being ‘in the money’, while 50% of traders are ‘out of the money’, which equates to 342,000 addresses. About 6%, or 38,000 addresses, are currently trading at break-even.
With a total supply of 9.91 billion tokens and a maximum supply of 10 billion, BRETT’s tokenomics remain attractive to investors looking for long-term growth.
As the largest memecoin on Base, Brett enjoys significant market participation.
Source: IntoTheBlock
Brett’s market activity continues to gain momentum, with its market capitalization reaching $1.1 billion and 24-hour trading volume rising to $85.5 million, an increase of 12.4% according to CoinMarketCap.
The volume to market capitalization ratio was 7.7%, reflecting healthy liquidity flow. This ratio indicated that Brett had controlled and sustainable liquidity, making it a stable asset in its category.
With markets expected to regain momentum after the weekend, the market is positioned for a potential upside driven by growing interest.
Read Brett’s [BRETT] Price forecast 2024–2025
Brett’s recent breakout and retest of consolidation provides a solid foundation for future growth as investors keep a close eye on whether the price action will move higher.
With positive market indicators and strong liquidity, BRETT could continue to rise, especially as market activity resumes.