Whales, Listings, and Liquidity Fuel MemeCore’s Meteoric 100% Rally

MemeCore (M) has experienced a rapid and significant price surge in recent days, with the token rising over 100% in a week and surging more than 33% in the last 24 hours. As of the latest reports, the token is trading around $0.8617, with a market capitalization exceeding $1.4 billion, pushing it into the 91st largest cryptocurrency by market cap. The rally has been supported by increased trading volume, strategic partnerships, and whale accumulation, which have all contributed to heightened investor interest.

One of the key drivers of the recent price action has been the MemeX Liquidity Festival, which saw a significant influx of capital into the MemeCore ecosystem. The event, which was postponed earlier in August, has generated strong speculative interest, particularly among liquidity providers and traders participating in associated competitions. In addition, the migration of tokens to MemeCore’s native chain has reduced circulating supply and increased demand, further contributing to the bullish momentum.

Fresh exchange listings have also played a crucial role in the token’s upward trajectory. On August 19, European exchange Bit2Me added M to its platform, providing European retail investors with easier access to the asset. This followed earlier listings on Binance Alpha, Kraken, and HTX, all of which historically triggered short-term price increases. The cumulative effect of these listings has been a steady flow of new buyers and heightened liquidity, with the 24-hour volume-to-market cap ratio standing at a healthy 5.2% [1].

From a technical perspective, MemeCore’s price has shown strong signs of continued momentum. The 4-hour chart reveals a sharp breakout above the 50 EMA, now acting as dynamic support near $0.59. While the RSI has moved into overbought territory, typical for meme-driven assets during periods of high FOMO, the bulls remain firmly in control as long as the price stays above $0.80. On-chain data further supports the bullish narrative, with the Weighted Sentiment turning positive and the Directional Movement Index (DMI) showing a strong +DMI of 44.35 compared to -DMI of 6.66, signaling strong buyer dominance [2].

A golden cross has also formed on the daily chart, as the 20-day simple moving average crossed above the 50-day. This technical formation is widely viewed as a potential indicator of further upside, particularly in the short term. According to current momentum indicators, the most likely target for MemeCore is $1.14. A decisive break above this level could trigger a retest of the token’s all-time high of $1.15 or even push toward $1.76 if buying pressure continues [3]. However, traders should remain cautious, as a correction to the $0.62 level—aligned with the 38.2% Fibonacci retracement—is possible if the bullish momentum wanes.

The broader market environment, while volatile, has supported MemeCore’s rally. The cryptocurrency’s recent gains have been accompanied by a surge in retail participation, as evidenced by increased activity on decentralized exchanges like PancakeSwap, which accounts for the majority of the token’s trading volume. Derivatives data also shows that long positions now outweigh short positions, and positive funding rates indicate that leveraged traders are betting on further upside. While the current rally is largely driven by retail enthusiasm and speculative trading, the underlying technicals and on-chain metrics suggest that the uptrend could continue, provided the key support levels remain intact.

Source:

[1] Here's Why MemeCore (M) Price Is Pumping Today (https://captainaltcoin.com/heres-why-memecore-m-price-is-pumping-today-2/)

[2] MemeCore Price Eyes Fresh ATH After 30% Rebound (https://www.ccn.com/analysis/crypto/memecore-price-m-reverses-august-final-day-pullback/)

[3] MemeCore crypto rallies over 100% in a week, is reversal looming? (https://crypto.news/memecore-crypto-rallies-over-100-in-a-week-is-a-reversal-looming/)