MemeCore (M) defied a broader market correction after rallying 25% in 24 hours to reach a 10-day high above $0.95, driving its market capitalization past $2 billion. The move allowed the token to overtake Pepe (PEPE) as the fourth-largest meme coin by valuation.
- MemeCore (M) climbed 25% to $0.95 before retracing to $0.91, pushing its market cap over $2 billion.
- M surpassed PEPE ($1.8 billion market cap) to become the 51st-largest cryptocurrency overall.
- MemeCore migrated all token bridging liquidity from Meson services to LayerZero.
- The token's Relative Strength Index (RSI) reached 90, signaling potential overbought risks following a past 76% single-day crash.
Infrastructure Changes and Market Flippening
While major assets like Dogecoin (DOGE) and Shiba Inu (SHIB) recorded daily losses during a wider market pull-back—even as initiatives like Dogecoin Labs target ecosystem expansion—MemeCore (M) surged to $0.95 for the first time since October 12. After retracing slightly to $0.91, M solidified its position as the 51st-largest cryptocurrency, displacing PEPE, which holds a market capitalization of approximately $1.8 billion.
The price surge coincided with an operational update published on X. MemeCore's team disclosed that Meson Tunnel and Express are no longer available for the token, with M bridging liquidity fully transferred to LayerZero. "For USDC.e tokens bridged through Meson services, we’re working with the Meson team to migrate liquidity from the old USDC.e contract to Stargate’s," the post stated.
Technical Breakout and Overbought Signals
Crypto analyst Crypto With Gopal noted that M exhibits a strong bullish breakout after breaking through the $0.80 resistance zone following an extended downtrend. "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," he stated.
Despite the upward momentum, technical indicators urge caution. The token's Relative Strength Index (RSI) exploded to 90 on a 0 to 100 scale, where readings below 30 suggest buying opportunities and levels above 70 signal overbought conditions. Furthermore, the asset carries significant historical volatility; earlier this year, M crashed 76% in a single day, leading blockchain investigator ZachXBT to openly question its valuation and tokenomics.
Why It Matters
MemeCore's ability to decouple from major meme coins during a market drawdown illustrates how fast speculative capital rotates into assets undergoing key technical updates. However, an extreme RSI reading of 90 combined with past 76% single-day drawdowns underscores severe pull-back risks for short-term traders. Market participants must monitor whether the $0.85 level holds as support or if profit-taking triggers a sharp technical correction.
