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The Brett price plummeted over 10% in the last 24 hours to trade at $0.06867 as of 11:38 p.m. EST as traders dump their holdings in the meme coin.
This sharp drop in the BRETT price coincides with a more than 4% decrease in the collective market capitalization of meme coins over the past 24 hours.
The Brett Price Is At A Critical Point
4-hour chart for BRETT/USD (Source: GeckoTerminal)
Over the past few days, the Brett price has printed a series of lower lows and lower highs, resulting in the formation of a medium-term negative price channel. The meme coin is now also resting on the key support level at $0.06640. Should it drop below this technical safety net in the coming 24 hours, the crypto could continue to trade in the descending channel.
However, BRETT rebounding from the $0.06640 support in the coming 12 hours might invalidate the bearish thesis. In this alternative scenario, the meme coin could attempt to break out of the bearish price channel. This might lead to the Brett price flipping the $0.07789 resistance into support. Thereafter, BRETT could rise to as high as $0.08937.
Brett Price Still At The Mercy Of Sellers
From a technical perspective, indicators on BRETT’s 4-hour chart warn that the crypto’s price could keep dropping in the short-term. Both the Moving Average Convergence Divergence (MACD) and the Relative Strength Index (RSI) are flashing bearish.
In the last 24 hours, the MACD line crossed below the MACD Signal line. Traders generally see this specific technical event as an indication the a crypto has entered a negative trend. With the MACD line falling away below the MACD Signal line, it seems BRETT’s bearish momentum is growing stronger as well.
RSI readings have also plummeted throughout the past day of trading, Currently sitting at around 30, the RSI on the 4-hour chart shows that bears have the upper hand against bulls. Sellers might also continue to assert their dominance, as suggested by the negative slope of the RSI line.
With the Brett price showing technical weakness and the overall meme coin sector shedding some of its market value, many investors are rushing to buy presale token Base Dawgz (DAWGZ), which will launch in about 8 hours after raising more than $3.3 million.
A Chain-Hopping Base Meme Coin
Base Dawgz (DAWGZ) is a new meme coin that calls the layer-2 Base network its home. However, the crypto’s presence will be extended to several other blockchains as well. These additional chains include some of the most active and liquid networks in the Web3 space, such as Avalanche, Binance Smart Chain, Solana and Ethereum.
Powered by Wormhole and Portal Bridge technology, Base Dawgz gives its token holders a transactional highway to all of the project’s supported networks. As such, investors can shift value between these networks with ease to capitalize on any yield-generating opportunities that might appear on these chains.
In addition to being able to grow their capital on multiple chains simultaneously, investors also mitigate the risk of their funds being trapped due to a network outage.
The meme coin frenzy has led to several outages this year, with the Solana chain suffering the most. Should DAWGZ achieve a high level of virality, investors can rest assured that they will still be able to transact with the crypto since it is not reliant on a single chain.
With its multi-chain presence and meme coin appeal, it’s easy to see why popular crypto YouTuber ClayBro told his 130K subscribers that Base Dawgz is worth accumulating.
Time Is Running Out For Investors To Get DAWGZ At Listing Price
After a successful presale that has seen Base Dawgz raise over $3.3 million, the meme coin is gearing up for its decentralized exchange (DEX) launch later today. With just 8 hours left, time is running out for investors to buy the meme coin at listing price as well as get in on a 702% annual staking yield before DAWGZ hits the open market.
The $DAWGZ presale has ended!
You are still able to buy the token at listing price if you so wish. Please stay tuned for more info.
DEX launch date: 4 September 2024, 5pm CET 🪂 pic.twitter.com/B9gFx6Yju6
— Base Dawgz (@BaseDawgz) August 28, 2024
Investors can still position themselves ahead of the DEX listing by acquiring the token via the simple buy widget embedded on the project’s website.
Selling for $0.008582, DAWGZ can be bought using either BASE, ETH, SOL, AVAX, BNB, BUSD, USDT or USDC.
Purchase DAWGZ tokens here before its DEX launch.
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