Why are Crypto Whales Shifting Support from Brett to a Promising New Project

Crypto Whales Shift Their Support from Brett to Endorse a Promising New Project – What’s the Buzz?


By Simon Chandler
Last modified:
June 25, 2024 12:29 EDT
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2-minute read


Brett’s value has surged by 23% today, reaching $0.1658 as the cryptocurrency market sees a 1.5% increase in the past 24 hours, driven by the Solana-based meme token.
Over the last week, BRETT has soared by a remarkable 38%, and over the last 30 days, it has seen a staggering 125% increase, with the coin making its debut on the market in late February.
However, Brett may be teetering on the edge of becoming overbought, which could signal an impending decline.
But there are other newly emerging meme coins that appear poised to take the spotlight as the next big trend, with multi-chain token Base Dawgz (DAWGZ) managing to raise $2.1 million in its presale.
Crypto Whales Shift Their Support from Brett to Endorse a Promising New Project – What’s the Buzz?
Although Brett’s current chart looks robust, its indicators suggest that it’s being overbought, indicating an imminent correction.
For example, its relative strength index (RSI) has just reached 80, a level that typically precedes substantial downturns, as illustrated in the chart below.


Source: TradingView
The same applies to the 30-day average, which has recently surpassed the 200-day average. Typically, this kind of movement occurs before a significant drop, as evidenced by BRETT’s price chart around June 17 and June 21.
This implies that now may not be the best time to invest in the coin, at least for traders focusing on shorter timeframes.
However, as previously mentioned, there are alternatives for traders seeking the next major meme token rally, and it appears that some whales are turning to them.
One of these new favorites is Base Dawgz (DAWGZ), a multi-chain cryptocurrency that has already raised over $2.1 million in its ongoing presale.
It seems that investors and whales are drawn to Base Dawgz because it provides superior fundamentals compared to the typical meme token.
Most notably, DAWGZ will operate on five networks: Ethereum, Base, Solana, Avalanche, and BNB Chain.
This makes it more accessible to investors and users, suggesting that DAWGZ will enjoy wider adoption and usage than if it were an ordinary single-chain coin.
A New Meme Token
Base Dawgz has adopted a base-jumping, extreme sports-focused aesthetic for its memes, with the coin featuring an adrenaline-seeking Shiba Inu dog as its mascot.
Its X account, launched in May, now boasts over 3,000 followers, while its Telegram channel has over 2,700 subscribers.
This is a positive indication for its future, with DAWGZ looking poised to develop a strong, expanding community around it.
As a token, it will have a maximum supply of 8.453 billion DAWGZ, with 20% of this supply allocated to its sale.
It will also support staking, allowing holders to earn a passive income from the token, in addition to any price gains.
Investors can participate in its sale on the official Base Dawgz website, and the coin will be listed on DEXes shortly after the sale concludes, before CEXes.
Given the growing popularity of its sale, it appears to be on track for a highly favorable rally once it is listed.
Buy DAWGZ Now
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Disclaimer: Cryptocurrency is a high-risk asset class. This article is provided for informational purposes only and does not constitute investment advice. You could lose all of your capital.