The Base network’s BRETT has exploded 348% in the last month, enabling it to briefly flip BONK in the past 24 hours to become the sixth-largest meme coin by market capitalization.
BRETT has reversed some of the gains since following a 9% drop to trade at $0.161 as of 2:37 a.m. EST. BRETT currently ranks as the seventh-largest meme coin with a market capitalization of $1.6 billion, about $100 million behind BONK. It hit an all-time high of $0.193 on June 9.
BRETT Meme Coin Overtakes BOME, TRUMP
Its recent rally has seen it surpass popular meme coins including Book of Meme (BOME) and MAGA (TRUMP).
BRETT launched in February 2024 as a depiction of a character in the “Boy’s Club” comic by Matt Furie. Its humorous and relatable background has seen it climb the ranks of Base tokens to become the biggest crypto on Coinbase’s layer two network.
$BRETT 1M 💪
Price +429%
Social dominance +206%
Current #1 LunarCrush AltRank pic.twitter.com/7GCTmLiJLP— LunarCrush Social Intelligence (@LunarCrush) June 9, 2024
Some traders speculate that BRETT has the potential to overtake PEPE amid the growing usage of the Base network.
Base Is Now the Second-Largest Ethereum Layer Two
BRETT’s gains come as the Base network emerges as the second-largest Ethereum layer two with a total value locked of $7.73 billion, according to L2Beat.
Base has surpassed Optimism’s OP Mainnet with a TVL of $7.09 billion. Arbitrum is the largest Ethereum scaling network with a TVL of $18 billion.
The Base network launched in August 2023. The current TVL represents almost 10X growth from the $742 million posted on January 1 this year.
Base’s rapid growth follows an outbreak of meme coin mania on the network that’s prompted the rise of meme coins including Degen (DEGEN), with a market cap of $191 million, and Toshi (TOSHI) with $168 million.
Base network presales are also on the rise with one of the hottest newcomers, Base Dawgz (DAWGZ), raising almost $1 million in less than a week since its launch. Some analysts say DAWGZ could be the next 100X token.
