Base meme coins are breaking out ahead of the spot Ethereum ETF launch.
For instance, Brett - the top meme token on Base - has breached a crucial resistance in the daily time frame.
Popular crypto trader Michael van de Poppe of MN Trading reveals that the Brett price could reach a new all-time high in the coming days, as long as it continues to hold above the $0.125 price level.
Meme coins are great for day trading due to their high volatility.$BRETT, for example, has broken through crucial resistance.As long as $0.125 holds, I'm expecting a new ATH to be provided and a new leg upwards. pic.twitter.com/blU7vrgXzg
— Michaël van de Poppe (@CryptoMichNL) July 19, 2024
Brett isn’t the only meme coin that is breaking out. DEGEN, Toshi and CHOMP are all surging, with the latter up nearly 14% today on Friday.
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.
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, 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.
My prediction number is 20-25% of the net flows that bitcoin ETFs have seen. That’s ~$3-4 billion in net inflows over the first 6-ish months. Those numbers would make ETH one of the most successful launches of all time. Maybe #2 behind bitcoin. What are we even talking about…
— James Seyffart (@JSeyff) July 10, 2024
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.
Is Base Dawgz The Next Big Base Meme Coin?
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.
We did it $DAWGZ!$2.5 MILLION reached 🪂 we're soaring now and it doesn't look like we're slowing down 🤩 pic.twitter.com/XY0rUztKpV
— Base Dawgz (@BaseDawgz) July 15, 2024
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.
Disclaimer: This is a sponsored article and is for informational purposes only. It does not reflect the views of Crypto Daily, nor is it intended to be used as legal, tax, investment, or financial advice.
