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The Brett price has slumped 10% in the past 24 hours to trade for $0.03210 as of 05:25 a.m. EST as trading volume soared 40%.
It comes after allegations that insiders owned over 81% of the token and wasn’t a fair launch.
A thread about how $BRETT was not actually a fair launch and insiders were holding over 81% of the supply before most people could buy.
People like @InvestWithRex made nearly 1600 ETH for tokens they got for marketing that were bought during the whitelist phase. pic.twitter.com/kpgiEvEMrY
— shady (@shady_oak1) April 25, 2024
Brett Price Suffers Ongoing Negative Publicity
The BRETT meme coin was met with controversy soon after its launch. One of the insiders, @CrashiusClay69, said that they first shared the token when the market capitalization was at $2 million. However, it quickly skyrocketed to $850 million, with traders that purchased BRETT token early enjoying up to 400X in gains.
I shared $BRETT at 2M market cap
It then went up to 850M
And its going to BILLIONS
Honored to have so many ppl who can say they are up life changing amounts
If giving a TRUE 400x+ entry to everyone is “scamming”
More ppl need to start scamming 😹
cuz this has been nothing… https://t.co/8br1AjnBT7
— Crash (@CrashiusClay69) April 26, 2024
The controversy started when reports spread that insiders hold over 81% of BRETT tokens. This saw the market capitalization crash by over $500 million to $286 million as of press time. The Brett price has also dropped almost 83% from its all-time high.
The 80% was never revealed by them until they got found out. They all acted like their first buys came at much higher MCs when they were actually much earlier right at launch.
And if you watch how the projects Poe, Your Pop, Henok and that crew get in you would realize that…
— Caesar (@CaesarsCalls) April 26, 2024
Brett Price Prediction
The Brett price is on a downtrend, recording lower highs and lower lows. Some would say that it is consolidating within a bullish reversal technical formation, the falling wedge.
However, judging from the Relative Strength Index (RSI), which is recording lower highs, the Base meme coin could have further downside momentum before a possible recovery.
Bearish sentiment continues to abound in the BRETT ecosystem, evidenced by the red histograms on the Awesome Oscillator (AO), which continue to grow in negative territory.
As traders continue to exit the BRETT market, the Brett price could drop lower, potentially revisiting the depths of $0.02323. In a dire case, it could extend a leg lower to sweep the sell-side liquidity that continues to reside below the aforementioned level ascribed to the April 27 trading session.
TradingView: BRETT/USDT 1-day chart
On the other hand, if the descending chart pattern is activated, instigated by the BRETT bulls using the correction as a buying opportunity, the Brett price could recover. A flip of the $0.04768 blockade into support would be a good sign, potentially to entice more buy orders.
However, for the prevailing bearish thesis to be negated, the bulls must haul the Brett price above the $0.08028 roadblock. Traders looking to enter a long position for the BRETT token should probably wait for the Brett price to close above the $0.04768 resistance level and the RSI to flip above the mean level of 50.
If you are not inclined to buy the dip with BRETT, you may also consider diversifying your risk with SMOG, an ecosystem that’s been without controversy.
Some traders are already pivoting to this Solana airdrop meme coin as YouTube channel 99Bitcoins, which has more than 700k subscribers, predicts it has the potential for 100X returns on launch.
Promising Alternative To BRETT
Smog is one of the most talked-about meme coins in 2024 after it erupted onto Jupiter DEX. The project operates on the Solana blockchain, and it’s already burst into the ranks of the top 30 meme coins by market cap.
Latest Solana Meme Coin Smog Erupts Onto Jupiter DEX With Airdrop Campaign https://t.co/Z7vH9TbvgV
— Crypto24club (@crypto24club) February 8, 2024
Smog promises the mother of all airdrops and, towards this endeavor, the project has allocated 35% of the total token supply (1.4 billion tokens) for giveaways.
Smog Token Makes Airdrop Payments After 11 Million Quests Completed
The first season of the Smog airdrop rewarded $SMOG token holders who joined the project’s quest board on Zealy and completed daily quests and community tasks for XP.
Smog gave away $1 million in the first season of its airdrop that ended on April 3.
Season 2 kicked off on April 4, with token holders’ on-chain activity being assessed this time to determine airdrop awards.
With the development team hinting at a likely new listing on a top-tier exchange soon, now could be an opportune time to buy given the hype that would come with such a development.
If you are tempted, visit and buy SMOG tokens here.
Also Read:
- Matthew Perry Reviews Smog Token – A Potential Solana Meme Coin Frontrunner
- Best Penny Crypto Investments: Top Picks for Explosive Growth in 2024!
- Smog Price Prediction – Can a Possible CEX Listing Fuel 10x Growth for $SMOG?
Smog (SMOG) - Meme Coin With Rewards
- Airdrop Season One Live Now
- Earn XP To Qualify For A Share Of $1 Million
- Featured On Cointelegraph
- Staking Rewards - 42% APY
- 10% OTC Discount - smogtoken.com
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