EGLD's 22.6% 24-Hour Surge: Is This the Start of a Major Bull Run for the Top-50 Meme Coin?

The recent 22.6% surge in EGLD (MultiversX) has sparked speculation about whether this marks the beginning of a broader bull run for the token. While EGLD is not a meme coin—its market cap ranking at #132 and its focus on enterprise-grade blockchain infrastructure [1]—its price movement coincides with a broader resurgence in meme coin momentum. This raises a critical question: Is EGLD’s surge a standalone technical breakout, or is it part of a larger trend where meme coin dynamics are influencing even non-meme assets?

Meme Coin Momentum: A Catalyst for Broader Market Sentiment

The meme coin sector in 2025 has evolved beyond viral humor, with projects like Arctic Pablo Coin (APC) and Pepe Coin (PEPE) leveraging structured incentives, deflationary mechanics, and community-driven strategies to drive adoption [2]. APC’s presale bonus of 200% tokens and 66% APY staking has attracted $3.62 million in capital, while PEPE’s 6.75% seven-day surge reflects strong retail participation [2]. These projects exemplify how meme coins are now competing with traditional cryptocurrencies on technical merit, not just social virality.

EGLD’s surge, though not directly tied to meme coin mechanics, aligns with a broader market narrative of speculative fervor. The token’s price has climbed to $15.28, with the 50-day moving average at $8.051 and the 200-day average acting as a key resistance level [1]. The Relative Strength Index (RSI) and Moving Average Convergence Divergence (MACD) suggest overbought conditions, a common precursor to short-term corrections in high-momentum assets [1]. However, the broader meme coin market’s $74.5 billion valuation and 24-hour trading volume of $5.8 billion [2] indicate that speculative capital is increasingly willing to chase assets with perceived scalability and utility, even if they are not meme coins.

Short-Term Timing: A High-Risk, High-Reward Proposition

For investors considering short-term entry, EGLD’s surge must be contextualized within the meme coin ecosystem’s behavioral dynamics. Fear of Missing Out (FOMO) and herding behavior are amplifying price swings, as seen in tokens like Pepenode (3,500% APY staking) and Pepeto (zero-fee decentralized exchange) [2]. While EGLD lacks the viral appeal of these projects, its infrastructure upgrades—such as the Supernova upgrade targeting sub-second transaction finality—position it as a potential enabler for meme coin developers seeking scalable platforms [1].

Technical analysis suggests a potential price range of $14.78–$18.77 for EGLD in August 2025, with a projected 24.7% return on investment [1]. However, this optimism is tempered by the token’s volatility, as historical data shows significant fluctuations. For instance, the monthly price corridor spans from $8.051 to $68.6, reflecting the unpredictable nature of the market [1]. Short-term traders must weigh these risks against the possibility of a broader altseason, where meme coin momentum could spill over into infrastructure projects like EGLD.

The Long Game: Meme Coins vs. Institutional Infrastructure

While meme coins dominate headlines, institutional-grade blockchain projects like BlockDAG are gaining traction for their focus on scalability and real-world applications [3]. BlockDAG’s $380 million presale and hybrid DAG-PoW architecture highlight a shift toward utility-driven solutions, contrasting with the social media-driven hype of meme coins. EGLD’s roadmap, which includes the Growth Games Expansion in 2026 to scale developer incentives, aligns with this trend [1]. However, its current surge appears more aligned with meme coin sentiment than institutional adoption.

Conclusion: A Bull Run or a Fleeting Spike?

EGLD’s 22.6% surge is unlikely to be the start of a major bull run unless the broader market continues to conflate meme coin momentum with infrastructure projects. While the token’s technical upgrades and ecosystem growth initiatives are promising, its price action remains vulnerable to the same speculative forces that drive meme coins. Investors should approach with caution, using technical indicators like RSI and MACD to time entries and exits, while diversifying across both meme coin and institutional-grade assets.

In the end, EGLD’s trajectory will depend on whether the market views it as a bridge to the future of blockchain or a fleeting beneficiary of meme coin hype. For now, the data suggests the latter—but in a sector where sentiment can shift overnight, nothing is certain.

**Source:[1] MultiversX (EGLD) Price Prediction 2025-2030 [https://app.orioleinsights.io/price-predictions/multiversx][2] The 2025 Meme Coin Boom: How Speculative Frenzy and Community Power Are Reshaping Digital Investing [https://www.ainvest.com/news/2025-meme-coin-boom-speculative-frenzy-community-power-reshaping-digital-investing-2508][3] Meme Coins vs. Next-Gen Blockchain Infrastructure [https://www.ainvest.com/news/meme-coins-gen-blockchain-infrastructure-case-sustainable-creation-2025-2508]