BRISE, the native token of the Bitgert blockchain, has recorded some significant positive price movement in the last 24 hours. Although the BRC-20 token is still trading in the red zone, it appears to be attempting a market recovery following this sudden hike in its market value.
BRISE: Biggest Gainer In Top 200 Coin Roster
According to data by CoinMarketCap, BRISE has soared by 21.44% over the last day, making it the largest gainer among the Top 200 cryptocurrencies in the market, followed closely by the meme season diamond – Pepecoin.
This price movement has produced much excitement within the Bitgert community as the BRISE token has been in a bearish state for quite some time, recording significant losses.
Data from CoinMarketCap shows that BRISE had lost 3.09% and 26.07% of its value in the last seven and 30 days, respectively.
BRISE opened its weekly market around a price region of $0.0000003534 and exhibited a steady decline over the next few days before finding support around a market price of $0.0000002759 on May 12.
Thereafter, BRISE began to show signs of consolidation before finally experiencing a price surge yesterday morning to trade as high as $0.0000003781.
Although Bitgert’s native token has slipped from such price heights, the decline has been insignificant, and BRISE appears to be gathering momentum for another price breakout.
Interestingly, shortly after the BRC-20 token’s surge, Bitgert’s developer team announced a supply burn of 500 billion BRISE tokens, which had drawn more interest to the asset as token burns are usually associated with price rises.
🔥 500 Billion #BRISE burned!
Another 400 Billion #BRISE to be burned in next 6hrs!
Txn Proof: https://t.co/Dhtrk8fU49
— Bitgert – $BRISE (@bitgertbrise) May 13, 2023
At the time of writing, BRISE is trading at $0.0000003514 with a 0.4% gain in the last hour. The token’s daily trading volume is up 6.99%, valued at $9.71 million. With a circulation supply of 395.68 trillion tokens, Birget’s native coin boasts a market cap value of $139.5 million.
BRISE Trading At $0.00000035258 | Source: BRISEUSD Chart on Tradingview.com
Could A BRISE Recovery Be On?
Following BRISE’s impressive price action, there is much ongoing speculation about the token’s ability to pull off a full market rebound.
According to the price prediction team at Coincodex, the current public sentiment surrounding BRISE is neutral which is further backed by a Fear and Greed Index of 48.
That said, the team forecasts the value of BRISE to plummet by 12.31% in the next five days, falling to a price region of 0.0000003139.
However, they soon anticipate a dashing reversal, with the BRC-20 token projected to have resumed its bullish course, trading as high as $0.0000004276 in the next 30 days.
That said, these predictions are merely speculation and should not be relied upon as investment advice.
-Featured Image: Capital.com, chart from Tradingview.
Source: https://www.newsbtc.com/altcoin/brise-gains-21-in-24-hours-could-this-be-a-market-recovery/