Brett Price Drops 8% as This Meme Coin ICO Tops $7.1 Million

The price of Brett has fallen more than 8% in the past 24 hours to trade at $0.116 as of 10:03 a.m. EST, as investors dump their holdings in the Base coin into the market.

The 24-hour loss suffered by BRETT price pushed the crypto’s weekly performance deeper into the red zone. As a result, the meme coin is down over 12% in the last 7 days.

Brett Price approaches key support

4-hour chart for BRETT/USD (Source: GeckoTerminal)

Brett price collapsed towards the $0.1123 support over the past 24 hours, according to data from GeckoTerminal. If it breaks below this technical safety net in the next 12 hours, the meme coin could risk plunging as low as $0.0898.

Vice versa, BRETT maintaining a position above the $0.1123 support over the next 12 hours could invalidate the bearish thesis. In this alternative scenario, the crypto could start to rise to the nearest resistance level at $0.1355. Brett price already tried to break this barrier in the last 48 hours, but the bears managed to defend the mark.

Nevertheless, the Brett The price closing a 4-hour candle above $0.1355 could give the coin the base needed to reach $0.1632.

Bears Still Seem to Control Brett Price

From a technical perspective, indicators on the 4-hour chart of BRETT warn that the crypto’s price may continue to decline in the next 24 hours. Specifically, the Moving Average Convergence Divergence (MACD) and Relative Strength Index (RSI) are bearish.

RSI readings have fallen from over 60 to 30 over the past 48 hours, signaling strong seller strength. With the current negative slope of the RSI line, it appears that the bears have no plans to release their pressure on Brett price anytime soon.

Along with the overwhelming strength of the sellers, momentum is also working against the bulls, as evidenced by the positioning of the MACD line below the MACD signal line on the 4-hour chart. Recently, the former has also started to move below the latter, which could indicate that BRETT’s bearish momentum is starting to accelerate.

Traders may be losing interest in BRETT, but the same cannot be said for a new Solana layer 2 coin named after Solaxy (SOLX). Recently, the pre-sale of the project exceeded $7.1 million.

The increased buying activity around Solaxy comes amid a series of bullish predictions from several crypto experts. Among them is an analyst from the popular YouTube channel 99Bitcoins, with more than 719,000 subscribers, who said that Solaxy could increase 100 times after its official launch.

The first Solana scaling solution to hit the market

Solaxy is a pioneer in the sense that it is the first project to expand the Solana network, which has recently been under computational stress due to the latest coin hype. With a coin super cycle expected to take place next year, Solana will need all the help it can get.

Solaxy, with its native layer 2 chain, will alleviate the transaction processing workload that meme coins impose on the Solana network. Not only will this open up computing space for deploying new tokens on Solana, but it will also increase the overall blockchain transaction while simultaneously reducing network fees.

Although the initial goal of the project was to scale Solana, Solaxy’s potential extends far beyond just another Solana project. Its native SOLX token also resides on Ethereum. This positions the project to become a gateway of sorts to a new and improved Web3 ecosystem that combines the robust infrastructure of Ethereum with the blazing speeds and low fees of Solana.

SOLX could therefore become the value transfer layer between two of the largest blockchain networks in the crypto space.

High-stakes rewards attract investors

The Solaxy pre-sale is off to a strong start because investors are betting big on the future of the project. The buying frenzy that has seen the project raise more than $7.1 million so far is expected to continue given the lucrative staking opportunity available to pre-sale investors. Anyone who buys and stakes on SOLX now will unlock an APY of 537%.

To benefit from these rewards, investors will first need to purchase the crypto via the simple in-app purchase widget on the project’s website. Priced at $0.001586, SOLX can be purchased using ETH, USDT, BNB, or a bank card.

Once acquired, investors must then go to the staking page on the website and lock their tokens to start earning the passive rewards.

Buy and stake on SOLX here for 537% APY.

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