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Is Brett crypto the next big thing? Solana memecoin bucks market trend

2min Read

Amidst uncertainties in the market, positive sentiment around BRETT hints at potential for sustained growth.

BRETT crypto hits ATH

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  • Brett experienced a significant surge amidst a broader market downturn. 
  • Despite technical signals, positive sentiment surrounding Brett remains strong.

As of the latest update, the crypto market is experiencing a downturn, with various altcoins displaying bearish trends on their daily charts. Additionally, according to CoinGecko, the memecoin market cap on the 31st of May stood at $65.7 billion, after seeing a 4.6% decline in the past 24 hours. 

BRETT tops the memecoin mania

Reflecting broader market trends, Brett [BRETT], a popular memecoin, suffered a 5% decline in the past 24 hours as well.

However, in the last seven days, BRETT experienced a significant surge of 67.61%.

Adding to the excitement around the Solana-based memecoin, @henokcrypto, a crypto investor and content creator took to X (formerly Twitter) and noted, 

“The market is down this week but $BRETT is breaking ATH’s.” 

With a touch of sarcasm he further added, 

Henok

Source: Henok/X

However, upon closer examination of the technical indicators, there are signs indicating a potential pullback.

The Relative Strength Index (RSI) showed that the coin was lying in the overbought zone, while the Moving Average Convergence Divergence (MACD) indicator also signaled strong bearish movement.

Brett- TradingView

Source: TradingView

The hype worked in favor of Brett

AMBCrypto’s look at Sentiment’s data suggested that despite the slight price decline on 31st May, positive sentiments surrounding Brett outweighed the negative ones.

Moreover, the price volatility graph line running almost flat further suggests that people are still positive and stable about BRETT’s bullish performance.  

BRETT's Santiment analysis

Source: Santiment

In Jordan Welch’s words, 

Jordan Welch

Source: Jordan Welch/X

While it’s too early to predict what the future of Brett looks like, one thing is certain, the hype surrounding this memecoin might be promising. 

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Ishika is a graduate of Political Science from the University of Delhi. From writing content as a hobby to now pursuing it as a professional career, she has been living and breathing content all her life. Her interests lie in making sure articles are very digestible to a common reader, despite all its technicalities and jargons.
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