TL;DR
One recently-emerged frog-themed meme coin hit a new all-time high of $0.14, with a market capitalization briefly surpassing $1.4 billion.
Meme coins are seeing significant interest, pushing the overall market cap of the sector to almost $70 billion. However, their high volatility poses substantial risk to traders.
The Latest Rally
While the prices of most cryptocurrencies have either consolidated or slightly retraced in the past 24 hours, some assets continue recording substantial increases. One example is the frog-themed meme coin Brett (BRETT), which reached a new all-time high of over $0.14 (per CoinGecko’s data). Its market capitalization briefly surpassed the $1.4 billion mark before settling at its current level of $1.35 billion.
BRETT Price, Source: CoinGecko
The asset’s impressive spike coincided with KuCoin’s decision to introduce the BRETT/USDT trading pair. Additionally, the company offered a 1,200,000 BRETT giveaway to celebrate the initiative. Users will receive a certain amount of tokens as rewards for each invitee they bring on.
Other leading cryptocurrency exchanges that previously allowed services with the asset include Bitget, BitMart, Gate.io, and more.
Crypto X is full of users envisioning that BRETT’s bull run is nowhere near its end. The cryptocurrency investor using the handle STASHER highlighted the asset’s performance, predicting a further increase to $0.20 “before actually retracing.”
“This looks like THE lower risk memecoin investment that genuinely is giving me DOGE, SHIBA, and PEPE vibes,” the analyst added.
Andrew Kang chipped in, too, claiming that BRETT “is showing strength, and it feels like the magnet to $0.20 is sooner rather than later.”
Last week, Crypto Rover – an X user with over 700,000 followers – revealed he has exposure to the asset, saying its price pump has resulted in substantial profits for him (at least on paper).
The Overall Meme Coin Mania
BRETT is not the only meme coin taking center stage as of late. The realm’s market capitalization nears the $70 billion mark, with Pepe (PEPE), Floki Inu (FLOKI), and many PolitiFi tokens witnessing impressive spikes.
Despite offering traders the chance of making substantial profits in a short period of time, dealing with meme coins can also lead to appalling losses due to the infamous volatility of the asset class. Those about to enter the ecosystem should take a look at our dedicated video to protect themselves from some common mistakes:
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