While most cryptocurrencies are facing bearish pressure, Memecore ($M) is standing out with a surprising surge. Over the past seven days, $M has spiked by 30%, gaining over 22% in the last 24 hours alone. But what’s behind this memecoin’s bullish breakout?
One key factor is the scarcity effect. With a circulating supply of just 1.57 billion M tokens out of a 10 billion max supply, investors see potential for high returns. Additionally, there’s growing social buzz—activity on platforms like X (formerly Twitter) and Telegram is soaring, fueling hype-driven buying.
Memecore’s price recently climbed from $0.34 to $0.52, before settling near $0.43, suggesting a clear breakout from consolidation. Its market cap has risen to $692 million, while trading volume jumped 9%, signaling strong investor interest.
Despite this bullish momentum, caution is advised. A drop below the $0.43 support level could signal a correction. For now, however, $M appears to be riding the meme wave—possibly toward a new all-time high.
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