- BRETT crypto rallied by more than 300% since March, outperforming most memecoins and other altcoins.
- The growth of this layer-2 network could bode well for its price.
Brett [BRETT], a memecoin on the Base network, currently ranks as the 75th largest cryptocurrency with a market capitalization of more than $1.66 billion.
It was launched earlier this year, and despite being a relatively new coin, it has amassed much interest with an over 300% gain since March per CoinMarketCap.
BRETT, at press time, traded at $0.167 after a slight 1% gain in 24 hours.
However, on a seven-day basis, the memecoin was down by 19%, with this dip likely coming from profit-taking after it reached an ATH high of $0.235 on the 1st of December.
BRETT’s gains this year have seen it outperform most meme coins and altcoins. However, will it repeat the same trend in 2025 and beyond?
BRETT crypto technical analysis
Since forming an ATH earlier this month, the BRETT crypto has seen a steep correction that has led to a descending triangle pattern appearing on its one-day chart.
This chart pattern usually precedes a short-term correction, suggesting that traders booked profits after the rally to record highs.
After this drop, BRETT seemed to have found support at $0.159. If the memecoin sustains its price above this support, and buyers reenter the market, it could resume an uptrend and aim for a new ATH.
Source: Trading View
Technical indicators also show that bears are taking control, given that the Moving Average Convergence Divergence (MACD) line is trending below the signal line while the histogram bars are negative.
The Relative Strength Index (RSI) also shows that the momentum is bearish after dropping below 50, indicating that sellers are behind the price action.
However, BRETT’s price action has often mirrored that of Bitcoin [BTC] and the broader market.
During the first quarter of 2025, the crypto market is expected to rally due to the shift in the U.S. political landscape and continued institutional adoption.
This could bode well for BRETT and possibly see the token claim a new ATH.
Surge in long-term holders
There has been a notable shift in holding behavior for the BRETT crypto.
According to the Addresses by Time Held metric on IntoTheBlock, most BRETT traders are becoming long-term holders, suggesting there is a bullish market sentiment.
The addresses that have held BRETT for more than a month stand at 673,000, while those that have held for less than one month start at 55,000.
This discrepancy suggests that most BRETT traders are looking for long-term gains.
Source: IntoTheBlock
At the same time, the number of traders who have held BRETT for less than a month has increased from around 18,000 in November to more than 55,000.
This increase also suggests that there is renewed interest in BRETT from short-term speculators.
If long-term holders continue to accumulate, it could bode well for BRETT’s gains beyond 2025, and possibly pave the way for a rally past $1.
How soon can BRETT rally to $1?
BRETT has a circulating supply of 9.91 billion tokens. If BRETT were to hit $1 in the next five years, its market cap would approach $10 billion, making it a rival to PEPE (PEPE).
A $10 billion market cap is realistic for BRETT, and one of the factors that could help fuel this growth is the Base network.
Read Brett’s [BRETT] Price Prediction 2024–2025
BRETT is the largest memecoin on Base, and it accounts for nearly a third of the total $3.28 billion market cap of Base meme coins.
As AMBCrypto reported, Base has become a main competitor to Solana’s [SOL] dominance in the meme coin sector. If this interest continues in the coming years, it could support BRETT’s rally beyond $1 in 2025.
