Brett’s $BRETT Surpasses $BONK, Climbs to 57th on CoinMarketCap

The meme coin market is experiencing a shake-up as BRETT, a token on the Base blockchain, has climbed to 57th place in CoinMarketCap’s market capitalization rankings, surpassing Solana-based meme coin Bonk ($BONK).

BRETT’s Meteoric Rise

BRETT’s recent surge follows its listing on the Kraken cryptocurrency exchange. Following this pivotal event, BRETT’s value increased by over 12%, reaching its current price of $0.1473. Simultaneously, BRETT’s market capitalization rose to $1,459,312,562.

BRETT/USD 1-Day Chart (Source: Coinmarketcap)

This upward trajectory was further bolstered by a 36% increase in its 24-hour trading volume, now at $98,138,009. Prior to its Kraken listing, BRETT was already available on several major exchanges, including Bitget, Bitmart, Kucoin, and Gate.io. Its accessibility on these platforms has likely contributed to its growing popularity and market presence.

Other Meme Coins Market Metrics

In addition to BRETT’s remarkable performance, other meme coins such as Dogecoin ($DOGE), Pepe ($PEPE), Shiba Inu($SHIB), and Floki ($FLOKI) have also experienced bullish metrics. Despite only slight value increases, these tokens continue to maintain strong positions in the market, suggesting the potential for further recovery and growth.

As of press time, the collective market capitalization of meme coins stands at an impressive $47 billion, reflecting a vibrant and active segment within the broader cryptocurrency landscape.

BRETT Faces Resistance: Will Bulls Prevail?

On the 4-hour chart, the BRETT token faces potential resistance around the $0.16148 mark. If the bullish momentum persists, BRETT could break above this level, indicating strong positive sentiment and propelling the token toward its all-time high, possibly even eclipsing it to reach new peaks.

BRET/USD 4-Hour Chart (Source: Tradingview)

Conversely, if the resistance proves too strong, the token’s value could retreat to the 50% Fibonacci retracement level at $0.13267, with further downside possibly extending to the day’s low of $0.1171. A drop below this could signal a stark bearish turn, potentially dragging the token down to its June low of $0.06924.

On the technical front, the Relative Strength Index (RSI) stands at 52.46, suggesting that the bulls have the edge, with room to drive prices up before hitting overbought conditions. Complementing this, the Chaikin Money Flow Index shows a positive influx of capital with a reading of 0.18.

BRET/USD 4-Hour Chart (Source: Tradingview)

This indicates a robust inflow of funds that could bolster the token’s upward trajectory. If sustained, this financial dynamism hints at a promising rise for the BRETT token in the near term.