'Pepe's Friend' BRETT Is 'Showing Signs Of Relief' Says Trader

The meme coin of “Pepe's best friend on Base Blockchain,” Brett BRETT/USD, has attracted traders’ attention despite significant losses.

What Happened: Crypto analyst Michaёl van de Poppe tweeted about is significant volatility and “a ton of opportunities” in meme coins. He noted that Brett, despite a 50% correction, is showing signs of relief with strong support: "A break of $0.1350 and another leg is possible for this one."

Another crypto trader sees Brett still in the same healthy accumulation range:

Not much has changed in the price action of $BRETT.

It's still in the same accumulation within the range. Big players are adding to their bags while others are taking some profits.

This is completely healthy, and I'm glad it's happening. It's the silence before the storm.

Once… pic.twitter.com/LJNAXHPlNT

— Andrew Crypto (@MrTastycalls) July 11, 2024

Price Action: In the past 24 hours, BRETT is down 3.9%, taking its weekly loss to 7%.

Also Read: Football Legend Ronaldinho Notices BRETT Meme Coin, Traders See ‘Huge Upside Potential’

Why It Matters: In the past 30 days, Brett has lost 34% of its value, most of it in the past 14 days (-28%). Launched in late February, Brett has managed to erase three zeros from its price within less than four months. Its market capitalization has multiplied several times to $1.13 billion, from just $13,644 when it started.

Within a short period, the meme coin has managed to grab the seventh spot in the top 10 meme coins. The traders' optimistic viewpoint on the meme coin is likely to impact prices in the upcoming weeks.

What’s Next: The influence of meme coins is expected to be thoroughly explored at Benzinga’s upcoming Future of Digital Assets event on Nov. 19.

Read Next:

• ‘Pepe’s Best Friend’ Brett Up 14% On The Week: $10B Market Cap Is Next,’ Exclaims Trader

Image created using artificial intelligence with Midjourney.