The meme coin frenzy has taken over the cryptocurrency space. As Bitcoin hits a new all-time high (ATH) and the total crypto market cap surpasses the $3 trillion mark, the spotlight is back on the sector, but it is the meme coins like BRETT that are leading the race this cycle.
Already, meme coins have been leading as the most popular and profitable narrative in previous quarters, and now, as the market rejoices over Donald Trump winning the US Presidential elections, they are once again drawing all the attention and capital away from all the other crypto trends.
There is no longer any pretense of utility or fundamentals; investors are here to chase the massive upside that crypto promises and to have fun while doing so.
This meme coin frenzy, which has sent the market cap of leading meme coins past $115 billion, isn’t happening on Ethereum this time, though. Instead, it is taking place on Coinbase’s very own Ethereum L2, Base. It boasts low latency, cheaper transactions, fast execution, and user-friendly experience, capturing the interest of both retail and institutional investors.
While retail is enjoying Base’s low fees to explore meme coin mania, institutions like Franklin Templeton are using it to launch their tokenized Treasury funds. The $1.5 trillion Wall Street firm itself is super bullish on meme coins and have published an investor note, covering “The Value Between Meme Coins and Their Native Networks.”
Base Surges to Become the Second-Largest L2
With the backing of Coinbase’s extensive infrastructure, large user base, and strong track record, Base reached the masses in a very short period. With a TVL of $9.72 billion, it has become the second-largest L2 in just over a year of its launch.
Base is actually planning to solve the interoperability problem of Ethereum’s layer-2s within the “next six months” and then expand to other L1s to unlock more use cases and value in its ecosystem.
As Base prepares for this massive capital unlocking, its creator, Jesse Pollak, envisions meme coins playing a significant role in onboarding new users to the L2.
Currently, the biggest meme coin project on Base is Based Brett (BRETT), a $1.73 billion token that has captured the attention of not just the crypto world but also the normies who want to participate in all the excitement surrounding crypto.
The Blue Mascot of the Blue Chain
The leading meme coin of Coinbase’s incubated L2 blockchain, BRETT, is inspired by the popular character from Matt Furies’s “Boy’s Club” comic series, which also features Pepe the Frog. Referred to as ‘PEPEs’s best friend,’ BRETT is a laid-back, video game-loving figure that has fast become the blue mascot of the blue chain, Base.
As the leader of Base meme coins, BRETT has been gaining momentum rapidly and growing in popularity, joining the ranks of the top 100 cryptos by market cap.
Driven by the 90% increase in its value just this past week, BRETT currently sits at the 66th spot and trades at $0.175, a mere 10% away from its ATH of 0.1933 hit in early June.
Launched in Feb. earlier this year, BRETT was trading as low as $0.0008475 just nine months ago. Since then, it has surged a whopping 18,677.4% to lead market gains.
What makes the meme coin so exciting is its low entry points and, of course, the thriving community that shares memes and supports each other in their endeavor to ‘making it.’
The project has actually created a strong online presence, boasting a whopping 2.94 billion impressions on social media and an estimated reach of 96.6 million. With close to a million total mentions, BRETT has certainly captured the mass’s attention.
Not only does BRETT have the attention, but it has also got the adoption part covered. With more than 700,000 holders, BRETT has created a strong community of supporters, welcoming new members to make the most of this bull run together.
In addition to being based on a loving and legendary character and having a strong and huge following, BRETT’s tokenomics make it one of the most attractive coins in the entire crypto and not just on Base.
BRETT’s Deflationary Model & Base Chain Partnerships Drive Growth
BRETT has a fixed supply of 9.91 billion, most of which is already circulating in the market and is being used to provide liquidity. More interestingly, the token utilizes a deflationary model, under which tokens are burned to remove them from circulation, making the token more valuable as demand rises.
Then, there are the partnerships with leading crypto companies that ensure BRETT’s long-term viability. The rapidly expanding ecosystem of Base Chain, covering a wide range of categories from DeFi, gaming, and NFTs to infra, social, and security, provides a solid foundation for BRETT’s success.
As the crypto market experiences euphoria with meme coins leading the charge and Base blockchain rises in prominence alongside increased CEX Coinbase usage in the wake of Trump’s win, BRETT is positioned to reach new, unimaginable heights in the near future!
