Brett (BRETT) was one of the most successful meme coins over the last week, with returns eclipsing those of blue-chip currencies like Dogecoin DOGE/USD and Shiba Inu SHIB/USD.
What happened: BRETT recorded weekly gains of over 17%, becoming the best-performing meme coin among those with a market valuation of more than $1 billion.
The token reached an all-time high of $0.2342 on Sunday, resulting in a $2 billion market capitalization, before falling back to $0.20.
The latest uptick was likely in anticipation of a listing on a major cryptocurrency exchange, like Binance or Coinbase.
Pseudonymous cryptocurrency trader Crash noted that BRETT was one of the largest meme coins by market value yet to be launched on Binance and Coinbase.
“And just how bullish is this thing to be at $2B without either so far,” the trader remarked.
Why It Matters: Listing a cryptocurrency on exchanges increases liquidity, which in turn improves market efficiency. The listing also helps to increase the coin’s visibility to a larger audience and builds confidence in its legitimacy.
In the past, meme coins like Pepe PEPE/USD, Floki FLOKI/USD, and dogwifhat WIF/USD have rallied significantly after getting listed on established trading platforms.
Inspired by the character of the same name from the popular comic series “Boys Club,” BRETT is based on the Base blockchain.
Since its launch in February, BRETT has racked up gains of more than 417%, which was higher than Dogecoin and Shiba Inu’s year-to-date gains.
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