Brit, the largest meme coin on Base Blockchain, is rising for two days in a row as whale buying fuels bullish sentiment.

Brett (Brett) to $0.1350, marking a 25% increase from December lows when most coins faced a decline.

This rebound is largely attributed to the continued recovery in the cryptocurrency industry following the Christmas holiday season. Investors are feeling optimistic due to several potential catalysts, including the upcoming inauguration of Donald Trump, expected changes at the Securities and Exchange Commission, and the distribution of funds from the International Monetary Fund. FTX Properties.

The rise in meme currencies has brought the total market value of the sector to more than $117 billion. Some of the best performing coins are Bonk, Dogwifhat, Fartcoin, and Popcat.

Brett's rise is also linked to on-chain data revealing a large purchase by a whale investor. The whale reportedly bought $1.7 million worth of Brit tokens and now owns $2.1 million in Brit, according to Nansen. On-chain activity indicates significant buying of BRETT in the past 24 hours.

Brett's performance mirrors that of Base, the second layer network that Coinbase will launch in 2023. Larger L2 Network in terms Decentralized finance Total value locked and volume of DEX transactions. Show data Its DEX protocols have handled volume of over $181 billion since its inception and $10 billion in the last seven days.

BRIT price patterns point to further gains

The daily chart shows that Brett also jumped for technical reasons. Its recent breakdown was part of the formation of a falling wedge chart pattern. This is a very popular reversal pattern created by connecting two converging trend lines. A bounce usually occurs when the two lines approach their meeting point, which happened recently.

The dip was also part of the handle section of the cup and handle pattern. The cup formed between June and September last year, at a depth of approximately 70%. By projecting this depth from the upper edge of the cup, Brett will likely rise to $0.3335, which represents a gain of 141% from current levels. A sustained move above $0.20 – the upper border of the cup – would confirm this bullish outlook.

Conversely, a drop below the bottom edge of the wedge at $0.10 would negate Brett's positive outlook.