BRETT v PEPE: Where Will Short-Term Inflows Accumulate?
Market bulls have ignited around meme coins like BRETT as sentiments flip green this week. This jump has led to a wider rally for meme coins and top crypto assets. While market sentiments continue to soar, traders have tipped renewed inflows in certain assets attempting to break new resistance levels.
The meme coin market cap stands at $68.8 billion, a 1% increase with a slew of assets recording 100X gains. Top meme coins like PEPE and BRETT have seen fair daily figures in terms of volumes although weekly numbers of the latter have jumped above others. Crypto users relished the spikes in the market projecting highs for both assets despite the short-term market correction.
BRETT Defies Short-term Correction
Although weekly movements are positive for meme tokens, intraday trading has seen outflows in some quarters. BRETT is up 8.2% and exchanges hands at $0.1353 after the wider market jumped. The asset has sustained weekly growth at 43.8% while monthly numbers are up 253% per CoinGecko data. BRETT has attracted bullish sentiments with the asset defying the short-term market correction.
At press time, the market capitalization is at $1.3 billion with daily trading volumes above $143 million. BRETT leads in short-term meme coin gains as bulls accumulate tokens in anticipation of higher numbers.
PEPE Marks Short-term Outflows
On the other side of the divide, PEPE, known for its high-flying numbers, has been clipped in short-term trading. The asset trades in its shadows recording a 3.8% daily outflow with similar weekly numbers. Most meme coin gains are seen in new tokens following the bullish upswing.
However, long-term numbers show the asset’s strength with 77% monthly inflows and 1055% yearly growth. Although its trading volumes are significantly higher than BRETT, on-chain data show a market frenzy around BRETT. Several market commentators opine that the continued accumulation of crypto assets will lead to a turnaround in PEPE and other assets trading sideways. Other factors like interest rate cuts could spur inflows to risky assets in the long run.
Also Read: 3 Profiting Cryptos On The Verge of Big Rally This Week
The post BRETT v PEPE: Where Will Short-Term Inflows Accumulate? appeared first on CoinGape.