TL;DR
- M’s triple-digit surge in the last 30 days could be attributed to MemeCore’s latest partnerships and other factors.
- While some analysts expect further highs, technicals like the RSI above 85 suggest the asset may be overheated and vulnerable to a near-term correction.
The Potential Catalysts
MemeCore (M) – a meme coin that emerged earlier this summer – has become the latest sensation in the crypto market. Its price has skyrocketed by roughly 400% over the past month and earlier today (September 12) reached an all-time high of $2.23. M’s market capitalization has risen to a spectacular $3.7 billion, making it the fourth-largest meme coin and the 48th-biggest cryptocurrency.
The impressive performance is likely a combination of several bullish factors, such as the excitement following the announcement of the MemeX Liquidity Festival. The event started on August 4 and will run until October 26, 2025.
It is in the form of a competition and is designed to attract traders and liquidity providers, incentivizing their efforts with a total of $5.7 million in rewards. Additionally, the top M traders share $30,000 worth of the token each day during the campaign.
Those willing to participate need to follow three steps: sign up for MemeX, connect their wallets to start trading, and trade any meme coins on the platform.
The second element that may have positively impacted the price of the token is the additional support coming from leading exchanges. Earlier this week, Gate.io listed the M/USDT trading pair, following the example set by Binance Alpha, Bitget, Kraken, BingX, and HTX, which had done the same in July.
Last but not least, the positive performance could be attributed to MemeCore’s recent partnerships. The team behind the project teamed up with Cooperation DDDD towards the end of August “to focus on ecosystem interconnection, technical collaboration, and market expansion.” According to the terms of the collaboration, the platform was fully integrated into the MemeCore public chain and its global community network.
Most recently, the entity behind M unveiled HALLO MEME (a party-style event focused on fun, networking, and meme culture, which will take place in Seoul, South Korea, on September 23-24). Earlier today, MemeCore revealed that the eSports brand T1 Official will join the initiative as a partner.
What’s Next for M?
Despite its massive green candles as of late, some analysts believe the asset shows no signs of losing steam. X user CryptoBull_360, for example, assumed that M is “about to break the highs again.”
On the other hand, important technical indicators signal that the token may experience a correction soon. The Relative Strength Index (RSI), which measures the speed and magnitude of recent price changes, has spiked above 85.
This is considered overbought territory and indicates that the asset could be headed for a pullback. Conversely, anything below 30 is interpreted as a buying opportunity.
The post MemeCore (M) Explodes by 400% in a Month: What Fuels the Massive Rally? appeared first on CryptoPotato.
