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- MemeCore jumped over 20% to $0.4545 as retail traders rushed in, driving 85% of volume on PancakeSwap.
- A breakout from a symmetrical triangle could push MemeCore to retest the $0.60 swing high.
After a period of being submerged among other altcoins, MemeCore (M) has suddenly become the center of attention. In the past 24 hours, the token has surged 20.46% and is now trading at about $0.4545. This sharp increase has seen it rise to the top of the daily gainers list. But what is really driving this surge?
Retail Frenzy Fuels MemeCore Surge Amid Technical Rebound
According to CoinMarketCap data, MemeCore’s trading volume has also soared 124%, reaching $31.68 million.
Approximately 85% of this activity is concentrated on PancakeSwap, indicating that the surge is driven by retail traders on Binance Smart Chain. In other words, this is not a movement driven by large institutions, but rather a surge of FOMO from small investors hungry for quick volatility.
Interestingly, this surge has also been accompanied by a fairly solid technical rebound. MemeCore has just bounced off the $0.39 support level established on July 16th. The RSI is currently around 55.59, indicating that momentum has not yet entered overbought territory. Despite this, the MACD histogram remains negative, indicating selling pressure that hasn’t completely dissipated.
But don’t jump to conclusions. Moraban Trading founder Nihilus has an interesting perspective. He sees potential for a further rally after the price breaks through the symmetrical triangle pattern on the 4-hour chart. His short-term target? Around $0.60—the previous swing high. As long as the price can hold above $0.45, the path to the next resistance level remains wide open.
Liquidity Festival Sparks Buzz and Asian Expansion Narrative
Furthermore, this price surge is also inextricably linked to the MemeX Liquidity Festival event held on August 4th. This competition successfully sparked a surge in community participation. MemeCore’s social media accounts were flooded with comments and interactions.
Furthermore, there was a surge in inflows to centralized exchanges after the event, indicating that many traders are starting to treat this token more seriously than just a fun coin.
Furthermore, M’s price surge was also driven by the narrative of expansion into Asian markets. In early August, the development team released a two-phase roadmap.
The first phase targets registration as a virtual asset service provider (VASP) in South Korea, through the acquisition of a company already listed on the KOSDAQ. If successful, they will expand to Japan and Singapore in 2026.
However, the process isn’t guaranteed to be that smooth. To date, the FSC—South Korea’s financial authority—hasn’t given the green light to foreign blockchains. This means the 2025 target date remains shrouded in uncertainty. But the market doesn’t seem to care, at least for now. The important thing is that the roadmap sounds convincing, and those seeking quick profits will act first.
Not only that, but MemeCore’s big idea is also quite eccentric. They claim to be the first Layer 1 blockchain built specifically for the Meme 2.0 era.
Their version of meme coins is that they will no longer be just a tool for speculation, but also a cultural medium, a governance system, and even a medium of exchange. It sounds a bit ambitious, admittedly. But in the crypto world, absurd things can sometimes sell well.
Currently, the price is hovering near the 50% Fibonacci level at $0.45. If it manages to close above it, the next target is likely to be $0.525 and possibly further upwards. Conversely, if it falls below $0.42, it’s possible we could see a return to $0.39. For now, MemeCore has successfully taken center stage among thousands of other altcoins.
