As a researcher with a background in the cryptocurrency market, I’ve seen my fair share of meme coins coming and going. The recent surge of the frog-themed Brett (BRETT) token is an interesting development, especially since it’s challenging the dominance of the established meme coin, Pepe (PEPE), which has a market cap of over $6 billion.
TL;DR
- One frog-themed meme coin that has been rising in popularity experienced a 30% spike on 24-hour scale, nearing a new all-time high price.
However, PEPE remains the biggest asset of that type, with a market cap of over $6 billion.
The Rise of PEPE’s Competitor
The meme coin market is consistently introducing new tokens, some of which have gained significant popularity in a brief span. For instance, Brett (BRETT), the frog-themed coin, emerged just three months ago but gained traction towards the end of March thanks to its remarkable price surge.
Over the past few weeks, this cryptocurrency asset has shined brightly among its peers, reaching a new record price of more than $0.12 on June 2nd. Its impressive market value has also broken through the $1.2 billion threshold.
As a researcher examining the cryptocurrency market, I’ve observed an intriguing development with BRETT. Following a minor dip on June 3, this asset has experienced a significant surge, registering a robust 30% price growth as of today (June 4). Notably, this upward trend contradicts the prevailing trend in the meme coin sector. Prominent players like Shiba Inu (SHIB), Dogecoin (DOGE), Pepe (PEPE), and Bonk Inu (BONK), among others, are currently experiencing losses.
As a researcher, I wasn’t entirely surprised by BRETT‘s impressive performance over the past month. This bull run has piqued the interest of many industry players, with some disclosing they have joined its community as investors and others expressing hopeful forecasts.
Crash, a well-known X user with a large following, has predicted that the meme coin could surge to a value between $3 and $8, potentially entering the top 20 cryptocurrencies. This forecast also includes the coins flipping the positions of prominent altcoins like Polkadot (DOT), Arbitrum (ARB), Dogswifhat (WIF), and Optimism (OP). Currently ranked as the 86th largest digital asset, BRETT holds the 7th position in its specific category.
PEPE Holds Its Ground
As a crypto investor, I’ve been keeping a close eye on the market, and although Brett has made some impressive strides, Pepe (PEPE) remains the undisputed king of frog-themed meme coins. With a market capitalization exceeding $6 billion, it reached an all-time high at the end of last month, propelling its market cap above $7 billion momentarily. Consequently, PEPE briefly outpaced Polygon (MATIC) and Litecoin (LTC) in terms of market value.
From a researcher’s perspective, I have observed that while PEPE has experienced a slight decline in the recent past, over 90% of its investors currently find themselves in a profitable position. In other words, more than nine out of ten PEPE holders are enjoying gains on their initial investment.
Smart traders took advantage of the recent price surge and made significant profits. One investor, who joined the trend in December 2023, recently pocketed around $2.5 million by cashing out.
When it comes to handling PEPE and meme coins, be aware that this asset class is notoriously volatile. Before entering this space, we strongly recommend watching our informative video to help you avoid typical pitfalls.
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2024-06-05 01:38