Memecoins
This frog-themed meme coin hit an all-time high after a 120% monthly increase (hint: it’s not PEPE)
TL;DR
- The price of a frog-themed cryptocurrency has surged 130% over the past month, reaching an all-time high of $0.09 and a market capitalization of $900 million.
- Analysts expect further gains and a potential increase in market capitalization towards the $1.5 billion mark.
The next cryptocurrency sensation?
The ever-evolving meme coin industry produces new tokens quite frequently, some of which capture the attention of industry participants and turn into major trends in a short period of time. One such asset that saw the light of day earlier this year and managed to attract the masses is Brett (BRETT).
The price of the frog-themed meme coin reached an all-time high of over $0.09 today (May 29), after recording a massive 130% increase on a monthly scale.
BRETT price, source: CoinGecko
BRETT’s market capitalization reaches the billion dollar mark, currently standing at around $900 million (according to CoinGecko data). Therefore, it has emerged as the eighth largest cryptocurrency in his kingdom.
The asset’s impressive rally could have been fueled by support from major exchanges introducing trading services with it. Some examples are BitgetBitMart, Gate.ioand more.
Furthermore, cryptocurrency X is full of analysts who believe that BRETT’s bull run is still at its starting point. Andrew Crypto praised the token’s new ATH, predict that its market capitalization could rise to a staggering $1.5 billion if the valuation holds at its current level of around $0.09.
User X with over 700,000 followers – Crypto Rover – revealed has exposure to BRETT, stating that its price pump has brought them substantial profits (at least on paper).
The success of PEPE
Despite its rapid price advancement, BRETT still lags behind the leading frog-themed meme coin: Pepe (PEPE). Earlier this week, the latter exploited a new price peak, with its market capitalization exceeding $7 billion. Therefore, it briefly overtook major altcoins such as Polygon (MATIC) and Litecoin (LTC).
However, PEPE failed to maintain its momentum. Its value has fallen by 8% in the last 24 hours, while its market capitalization is currently around $6.3 billion.
To date, approximately 94% of all PEPE holders are sitting on paper profits. The figure jumped above 96% on May 27, when the ATH occurred.
The latest surge in the asset has allowed savvy traders to make substantial profits. One such investor, recently entered the ecosystem in December 2023 cashed almost 2.5 million dollars. However, dealing with PEPE and meme coins in general remains quite risky due to the asset class’s notorious volatility, which could lead to devastating losses.
If you’re about to jump on the bandwagon, check out our dedicated video below to protect yourself from some common mistakes: