MemeCore Surges 35% as Crypto Market Splits Amid U.S. Economic Concerns

This week’s cryptocurrency market exhibited divergent performances, with MemeCore (M), Four (FORM), and Conflux (CFX) leading the charge in price recovery amid broader market uncertainty. In contrast, Fartcoin (FARTCOIN), Bonk (BONK), and Virtuals Protocol (VIRTUAL) faced significant declines, reflecting heightened risk-off sentiment driven by weak U.S. economic data and ETF outflows [1].

The crypto market experienced a notable pullback, with Bitcoin [BTC] falling below $113,700 and Ethereum [ETH] declining more than 5%. The retreat was attributed to growing concerns over a potential U.S. recession and the release of a 160-page U.S. government crypto policy report. Despite this, MemeCore, Four, and Conflux demonstrated resilience, with MemeCore surging over 35% after recovering from a 50% drop since its initial coin offering (ICO). Four remained above $3.60, suggesting a potential breakout, while Conflux rebounded 15% following a prior 15% loss [1].

Memecoin assets continued to exhibit high volatility, with sharp price swings attracting speculative investor attention. COINOTAG analysts emphasized that while memecoins offer high-beta returns, they remain inherently speculative and subject to rapid shifts in market sentiment [1]. Technical indicators, such as moving average convergence divergence (MACD) and relative strength index (RSI), played a crucial role in shaping trader strategies. Fartcoin, for instance, recorded a bearish MACD crossover, signaling continued downside potential, while MemeCore’s RSI remained below overbought levels, indicating room for further gains [1].

On the downside, Fartcoin dropped 29% this week, breaking key support levels and confirming bearish momentum. Bonk ended a five-week rally with a 24.6% pullback, and Virtuals Protocol fell 24%, marking its worst weekly performance. These declines underscore the fragility of certain altcoin sectors amid tightening risk appetite [1].

The market also saw a reversal in ETF inflows, which had previously driven bullish sentiment. This shift, combined with the publication of the U.S. government’s regulatory report, has heightened uncertainty about future policy developments and their potential impact on investor behavior [1].

Overall, this week’s market dynamics highlighted the uneven performance across crypto assets. While MemeCore and its counterparts showed signs of recovery, others faced steep declines amid macroeconomic pressures. Investors are advised to closely monitor technical levels, market sentiment, and policy developments to navigate the ongoing volatility [1].

Source: [1] MemeCore [M] Shows Potential Recovery Amid Mixed Crypto Market Movements This Week (https://en.coinotag.com/memecore-m-shows-potential-recovery-amid-mixed-crypto-market-movements-this-week/)