MemeCore’s native token M has raced from near-zero to headline-making highs in a matter of weeks, drawing both excitement and sharp warnings from market watchers.
That follows July lows near $0.036, a move that translates into roughly a 3,750% gain in about 90 days. Traders piled in quickly. A lot of money followed.
Price action has been wild. Momentum indicators show parabolic behavior and the RSI has flashed extreme overbought readings, signaling the run may be stretched.
Based on technicals, the token has swept through resistance levels since mid-August and is trading in territory where a fast reversal is possible.
Some traders say M is being propelled by hype and big marketing plays more than by on-chain usage today.
The project pitches itself as the first Layer-1 built for meme culture and uses a Proof of Meme consensus model alongside community-focused tokenomics.
Those features have been shouted about in the community, and they help explain why momentum traders have shown up in force.
Supporters highlight the promise of a meme-driven economy as reasons for continued upside. If consolidation holds above $1, a push toward $2 is floated by optimistic traders.
But risks are clear. If $1 support gives way, liquidation cascades could accelerate downside toward $0.40–$0.50. Liquidity outside major centralized exchanges looks thin, and event-driven spikes can reverse quickly.
Market sentiment is still labeled Bullish by some indicators, while the Fear & Greed Index sits at 48, which is neutral.
Over the past 30 days, M recorded 16/30 green days and roughly 35% price volatility, showing how choppy trading has been.
Those figures suggest a market that favors quick movers but leaves slower traders exposed to steep losses.
Featured image from MemeCore, chart from TradingView
