The top memecoin on the Base blockchain is making waves in the market, surpassing Dogecoin’s rival BONK in terms of market capitalization early this Monday.

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

Pepe was originally based on a character from the Boys Club comic series by Matt Furie. Among the characters in the series was Pepe’s friend, Brett, a blue creature with a love for dancing and fashion, who serves as the inspiration for the BRETT coin on Base.

With a market cap of $1.796 billion, BRETT briefly surpassed BONK earlier today, but has now fallen slightly below by approximately $71 million.

Since February, BRETT has experienced an impressive growth of 21,317%, starting from trading below $0.0009.

In April, blockchain tracking firm Lookonchain identified two wallets approved by the coin’s developers that saw gains of 30,830x, turning a small investment of just over a hundred dollars into more than $3 million.

These wallets, authorized by the deployer of the meme asset, spent 0.034 ETH, equivalent to $102, to acquire a total of 172.56 million BRETT in February. Subsequently, these wallets sold 122.74 million BRETT for 890.65 ETH, valued at $3.14 million, through various wallets, resulting in significant profits.

Whitelisted wallets are authorized participants in specific crypto events such as initial coin offerings (ICOs), according to Coinbase. The pseudonymous crypto analyst Shady mentioned that the Brett deployer whitelisted 139 addresses.

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