The leading memecoin on the Base blockchain is making waves in the market, surpassing Dogecoin’s rival, BONK, in terms of market cap at the start of the week.

BRETT, a memecoin designed to complement the frog-themed altcoin Pepe, has seen a remarkable 426% increase in value over the past 30 days, currently trading at $0.18.

Pepe, originally inspired by a character in the Boys Club comic series by Matt Furie, features a blue creature named Brett who enjoys dancing and fashion. The BRETT coin on Base draws inspiration from this character.

With a market cap of $1.796 billion, BRETT briefly exceeded BONK earlier today before falling slightly below by around $71 million.

Since February, BRETT has surged by an impressive 21,317%, when it was valued at less than $0.0009.

In April, blockchain analytics firm Lookonchain identified two wallets approved by the developers of the coin that recorded gains of 30,830x, turning a small investment into over $3 million.

According to Lookonchain, the two whitelisted wallets acquired a total of 172.56 million BRETT for 0.034 ETH, equivalent to $102, in February. Subsequently, these wallets sold 122.74 million BRETT for 890.65 ETH, worth $3.14 million, through multiple transactions, resulting in significant profits.

Whitelisted wallets are authorized participants in specific crypto events like initial coin offerings (ICOs), as per Coinbase. Crypto analyst Shady revealed that the Brett deployer whitelisted 139 addresses.

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