BRETT crypto: Long position takers gain!

BRETT has been consolidating in a symmetrical pattern since the 15th of May. The consolidation precedes a retracement after a buying impulse

Brett [BRETT] has been making a statement in the market. While the memecoin has been surging over the last week, only BRETT has managed to rally by a significant 29%, according to CoinMarketCap data.

In the last 24 hours, memecoins have been performing well, with an average price surge of 2%. However, BRETT has been among the top performers, with a daily surge of 18% at press time.

That not all — the memecoin’s market capitalization stands at $1.134 billion, ranking it 8th by market cap among the meme coins.

However, BRETT has been the most performing in all dimensions. Its market cap and trading volume growth, which stood at 19% and 66%, respectively, at press time, were all above the overall memecoin’s average gains of 2% and 19% in the last 24 hours.

What tale do the metrics tell?

Given the current positive technical indicators, BRETT Santiment data indicate a spike in its whale activity.

The percentage of supply by whales over 5M currently stands at 55.83. This indicates how crucial the current price is for the coin.

Investors have held their breath waiting for this expansion phase, and their inflow volume is evident from the whale activity surge.

Source: Santiment

AMBCrypto further analyzed the memecoin’s social volume data via Santiment, which painted mixed reactions.

Despite the recent surge on the 11th of September, the number of social mentions were slowly fading.

However, these may not generate more offensive momentum to slow the current BRETT rally, since this could be the results of a social shift to major altcoins in the market.

Source: Santiment

BRETT price has high chances of rallying to its all-time. Given both positive technical and on-chain metrics, the coin path to $0.195 may be shorter than anticipated.