Brett Price Breaks Out Ahead of Spot Ethereum ETF Launch

Base meme coins show a strong correlation with the Ethereum price. Notably, Base does not have its own native token and uses ETH

Base meme coins are rallying ahead of the launch of the spot Ethereum ETF, with some showing breakouts on the daily time frame.

According to data from CoinGecko, Base's top meme coin, Brett, has breached a crucial resistance on the daily.

Popular crypto trader Michael van de Poppe of MN Trading stated that the Brett price could hit a new all-time high in the coming days, as long as it continues to hold above the $0.125 price level.

"Keep an eye on the Brett price. It is showing strength on the daily time frame and could reach a new all-time high soon. However, it needs to hold above the daily support at $0.125 for this scenario to play out."

After breaking out of a descending parallel channel on the daily, DEGEN price has rallied by nearly 14% today, making it one of the best performing crypto assets on Friday.

Toshi price also rallied by nearly 10% today, continuing its uptrend from the daily support at $0.00003.

Meanwhile, CHOMP price is up nearly 14% today on Friday, continuing its rally from the daily support at $0.00004.

However, a few experts believe that Base Dawgz could potentially be the next big meme coin on Base. Some analysts have even suggested that up to 100x gains could be a possibility for early DAWGZ buyers.

Base meme coins show a strong correlation with the Ethereum price. Notably, Base does not have its own native token and uses ETH, considering that it is an Ethereum Layer-2 chain.

Consequently, the spot Ethereum ETF launch is expected to be extremely bullish for Brett and the other Base meme coins.

Bloomberg ETF analyst James Seyffart believes that the Ethereum ETFs will likely see 20-25% inflows of their Bitcoin counterparts. If this prediction holds, it could mean nearly $4 billion in inflows over the first 6 months, a decidedly bullish scenario for the Ethereum price.

"If we apply the 20-25% multiple to the Bitcoin ETF flows, which currently stand at $16 billion, we could see nearly $4 billion in inflows into the Ethereum ETFs."

The ETH price chart already appears poised for a breakout rally. Popular trader Crypto Lalit (@CryptoLalit151) believes that ETH is headed to $4000 in the coming weeks, highlighting the bullish symmetrical triangle pattern in its price chart.

Unsurprisingly, this provides the ideal backdrop for Base meme coins to push towards their all-time highs.

For instance, the Brett price is extremely close to breaking out of its descending parallel channel in the daily time frame.

A daily close above the upper trendline could mean a bull rally to $0.20, which would be a new all-time high for the top Base meme coin. A 20% bounce in its daily trading volume today means that a breakout is imminent.

The Brett price is currently trading at $0.135, with a market capitalization of over $1.3 billion.

A new contender – Base Dawgz (DAWGZ) – is quickly stealing the spotlight from other Base meme coins, thanks to its stellar presale performance.

The DAWGZ ICO has received over $2.5 million in early investments, signalling a high upside potential.

However, its reach isn't limited to the Base chain. Being a multi-chain meme coin, DAWGZ will also go live on Ethereum, Solana, Avalanche and BNB Smart Chain. Furthermore, it is also offering lucrative staking rewards on each chain, currently at a reward rate of over 1300%. The Solana staking is currently in the works.

The project has also launched an innovative concept to improve its brand visibility and post-launch price potential. Investors can share DAWGZ-related content on social media and earn airdrop points. They can also create their own referral link and receive a percentage of investments made through their links.

Thanks to its unique value proposition, smart money traders are bullish on Base Dawgz, with some calling it the next big Base meme coin. Others believe that early DAWGZ buyers could potentially earn 100x returns.

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