The top memecoin on the Base blockchain is making waves by surpassing Dogecoin (DOGE) competitor BONK in terms of market capitalization early this Monday.
BRETT, a memecoin created to complement the frog-themed altcoin Pepe, has seen a remarkable 426% increase in the last month, currently trading at $0.18.
Pepe, originally inspired by a character in the Boys Club comic series by Matt Furie, features Pepe’s friend Brett, a blue creature with a passion for dancing and fashion. The BRETT coin on Base draws inspiration from this character.
With a market cap of $1.796 billion, BRETT briefly exceeded BONK’s market cap today, but has since dipped slightly by around $71 million.
Overall, BRETT has surged by a staggering 21,317% since February, when it was valued at less than $0.0009.
In April, blockchain tracking firm Lookonchain identified two wallets approved by the coin’s developers that saw gains of 30,830x, turning a small investment into over $3 million.
Lookonchain reported that these wallets, whitelisted by the deployer of the meme asset, spent 0.034 ETH, equivalent to $102, to purchase a total of 172.56 million BRETT in February. Subsequently, they sold 122.74 million BRETT for 890.65 ETH, worth $3.14 million, through various wallets, resulting in significant profits.
Whitelisted wallets are authorized participants for specific crypto events such as initial coin offerings (ICOs), according to Coinbase. Crypto analyst Shady, known for his pseudonym, mentioned that the Brett deployer whitelisted 139 addresses.
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Image Credit: Midjourney
