BRETT crypto is one of the memecoins that have flown under the radar but still achieved significant success in 2024. It has started off December on a bullish leg that points to more potential upside this month.
More importantly, the coin is already making progress in its bid to become one of the top coins by marketcap.
The pace of liquidity inflows into BRETT accelerated in the last 2 days allowing it to soar as high as $2.28 billion in the last 24 hours. This consequently allowed the memecoin to secure the 60th position by marketcap according to Coinmarketcap.
BRETT crypto price action starts December at new ATH
The memecoin gained roughly $720 million in its marketcap in the last 7 days. However, the bulk of those gains occurred in the last 2 days. In terms of price action, BRETT entered a consolidation phase from mid-November which formed a bullish flag pattern.
Interestingly, the momentum build-up in the last 2 days triggered a bullish flag breakout. That momentum extended into an 18.87% upside on 1 December. A strong way to start off the month.
BRETT traded as high as $0.236 at the time of observation, which consequently marked its new ATH. The bullish flag implies that the memecoin may push higher in the coming days but only if it maintains positive flows.
The reason for the caveat was that the memecoin was deeply overbought at the time of writing. Profit-taking is likely to intensify under such conditions.
BRETT demonstrated strong demand with open interest soaring to its highest point on 1 December. The level of open interest peaked at $161.63 million during the day.
The surge in open interest was predominantly bullish judging not only by price action but also the funding rates. There was a massive spike in positive funding rates which was also the highest recorded in history.
The funding rates and open interest surge confirmed robust demand in the derivatives market. This was also the case in the spot market which recorded continuous positive flows for the last 5 days.
Binance and Coinbase listings could supercharge BRETT bulls
BRETT’s impressive marektcap (above $2 billion) implies that the coin is already a mainstream memecoin. However, it is yet to achieve its full potential given that it has not yet been listed on Coinbase and Binance.
Why is this a big deal? Well, Coinbase is the most recognized licensed crypto exchange in the U.S and Binance is the leading global crypto exchange. Listing on these two exchanges unlocks a tsunami of liquidity.
BRETT listing on the two crypto exchanges could therefore strengthen its bullish resolve. Analyst have been speculating about the potential impact that the listings may have on the memecoin.
Such an outcome could boost the memecoin’s mainsteam appeal. Potentially paving the way for more upside.
BRETT could therefore turn out to be one of the best memecoins in the current bullish cycle. Especially if it launches on the 2 major exchanges. The announcement of BRETT’s listing on Binance and Coinbase will thus mark an important bullish milestone for the memecoin.
