news 
Why BRETT memecoin’s short-term targets will be dictated by whale action
BRETT memecoin has been witnessing a significant decline in interest from whales. This development could have a significant impact on the short-term price action of the asset. According to IntoTheBlock data, large holder inflows were down to 347.67 million BRETT while large holder outflows peaked at 341.11 million BRETT. For comparison, large holder inflows peaked at 3.42 billion tokens on December 12, while large holder outflows peaked at 3.40 billion tokens.
These figures confirm the decline in demand from whales, which has led to a bearish momentum for the asset. The data further reveals that only 38% of BRETT holders were in the money at its $0.11 press time price level. This is particularly concerning as it indicates that many investors are now underwater, potentially leading to a decrease in buying pressure.
As such, the short-term targets for BRETT will be heavily influenced by whale activity. The asset’s recent performance has been largely driven by large investor sentiment, and as such, any changes in this dynamic could significantly impact the price action of the asset.
The data also reveals that 50% of traders were out of the money at its $0.11 press time price level, further reinforcing the notion that whales will dictate the short-term targets for BRETT.
Source: ambcrypto.com
