BRETT Coin Surges 19.21% Amid Increased Whale Activity and Market Recovery
Bitcoin price has surpassed $96,000, leading to a recovery in the meme coin market. Dogecoin has increased by 7.96% over 24 hours, while BRETT meme coin has surged 19.21%, trading at $0.1351 and approaching a market cap of $1.5 billion. This growth reflects rising investor interest.
BRETT Technical Analysis
BRETT has formed two consecutive bullish candles, bouncing off the 200 EMA line and completing a Morning Star pattern. This indicates a shift in market sentiment favoring bulls. A bullish closing above the 100 EMA line may signal the end of a lower high peak formation and a potential breakout from a falling wedge pattern.
Photo: TradingView
The immediate resistance for the wedge breakout is near $0.1586. The daily RSI line's upward movement suggests continued buying interest. A successful breakout above $0.1586 could lead to further gains, targeting $0.21113.
Whale Activity
Whale interest in BRETT has increased significantly. A recent whale transaction involved withdrawing 525 ETH from Coinbase, valued at $1.74 million, with 400 ETH used to purchase BRETT. This indicates strong confidence in BRETT’s future price action.
This transaction included purchasing $1.35 million worth of BRETT at an average price of $0.124, followed by acquiring 3.16 million BRETT tokens with the remaining 125 ETH. Total whale holdings now stand at 15.55 million BRETT tokens, indicating robust confidence in the asset.
The whale used its last 125 $ETH to purchase 3,165,744 $BRETT, bringing the total whale holdings to 15.55M $BRETT. pic.twitter.com/UAr3RjSNm9
— Onchain Lens (@OnchainLens) January 2, 2025
The increased whale activity supports a bullish outlook for BRETT as the broader market recovers.