MemeCore (M) surges 80% daily—after SHIB-style hype, analysts warn of a pullback
MemeCore (M) has jumped about 80% in a single day, becoming the third-largest meme coin and nearing a potential move ahead of SHIB. The broader market also rebounded, with BTC up ~4% and SOL up ~9% over 24 hours.
Price context: MemeCore (M) is around $1.50 with market cap just under $2B (about the 40th-largest crypto by CoinGecko). The rally comes only days after MemeCore (M) fell 76% amid manipulation allegations.
Response from the project: The team says a “comprehensive internal and on-chain review” found no issues affecting protocol/infrastructure, no token sales by the MemeCore Foundation, and no unusual activity in treasury or operations.
Market reaction and risks: Several traders interpret the spike as short-squeeze-driven rather than organic buying. On-chain/market indicators also look stretched—MemeCore (M) RSI is around 82, signaling extreme overbought conditions that often precede a pullback.
Skepticism grows: Well-known analysts have previously questioned MemeCore’s distribution and valuation, including claims that insiders control over 90% of supply. Crypto influencers also openly called for shorting MemeCore (M), citing manipulation and high scam risk.
Takeaway for traders: MemeCore (M) is outperforming fast, but the combination of post-allegation rebound + extreme RSI + “shorts forced to buy” narratives makes downside volatility likely.
Bearish
Bearish because the rally in MemeCore (M) is happening after prior “manipulation” allegations and is paired with stretched momentum indicators. An 82 RSI often precedes profit-taking, and traders’ comments suggest the move may be driven by short-liquidation rather than sustained spot demand.
In similar meme-coin cycles, quick post-news rebounds frequently attract late buyers, then retrace when squeezed traders unwind and the market re-prices risk. Even if the project’s review announcement reduces immediate uncertainty, it does not remove the core concerns about distribution/valuation and trader positioning.
Short-term: expect higher volatility, potential pullbacks or wick-driven reversals in MemeCore (M). SHIB relative performance may also shift as capital rotates between meme narratives.
Long-term: unless MemeCore (M) can demonstrate credible, durable growth beyond short-term momentum, bearish pressure can remain. Persistent skepticism from analysts and the lack of clear corrective catalysts typically cap rallies in heavily speculative meme assets.