MemeCore (M) Flips Pepe (PEPE) After Pumping 25% in a Day: Details
MemeCore (M) has pumped 25% in a single day, becoming the fourth-biggest meme coin after surpassing PEPE in market capitalization.
MemeCore (M) has defied the broader market downturn, pumping 25% in a single day to reach a 10-day high. The token's market cap surged past $2 billion, making it the 51st-biggest cryptocurrency and the fourth-largest in the meme coin niche, surpassing PEPE which has a capitalization of approximately $1.8 billion.
Several hours ago, M exceeded $0.95 for the first time since October 12 before retracing to the current $0.91. The price surge came as MemeCore's team announced that Meson Tunnel and Express are no longer available for the token, with liquidity having moved to LayerZero.
Potential Rally
According to analyst Crypto With Gopal, M could be on the verge of a further rally as it shows a strong bullish breakout after a prolonged downtrend. He claimed buyers have aggressively stepped in after the price soared past the $0.80 resistance zone.
Holding above $0.85 could open the door toward $0.96 and potentially $1.00. Momentum is shifting in favor of the bulls, but sustained buying pressure is key to confirming the reversal.
Caution Advised
Despite the potential for further gains, investors should remain cautious as M is primarily driven by speculation rather than fundamentals. Earlier this year, the meme coin crashed 76% in a single day, and blockchain investigator ZachXBT has questioned its valuation and tokenomics.
M's Relative Strength Index (RSI) has exploded to 90, suggesting the price has risen too much too quickly and could be due for a short-term correction. The technical analysis tool runs from 0 to 100, with readings below 30 typically considered oversold.
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