The broader memecoin market has shown a significant turnaround in the last 24 hours, with the total sector market cap rising 8% to $23 billion and trading volume surging 77% to $2.85 billion. Amid this sector-wide trend reversal, MemeCore has rebounded, successfully holding the $1.1 support level and climbing to a local high of $1.329. The token surged 11.2% on the daily charts to trade around $1.32, though its trading volume dropped 13%, indicating that overall market participation has yet to fully recover. Demand for the token has returned, driven by renewed capital rotation within the sector.
The broader memecoin market has experienced strong downward pressure amid extended market weakness, but has recently reversed course. In the last 24 hours, the total memecoin market cap rose 8% to $23 billion, while trading volume jumped 77% to $2.85 billion. Amid this sector-wide trend reversal, MemeCore also rebounded, successfully holding the $1.1 level and climbing to a local high of $1.329.
As of press time, MemeCore was trading around $1.32 after rising by 11.2% on the daily charts. However, its trading volume dropped by 13%, suggesting that market participation has yet to fully recover. As sector-wide momentum shifted, traders rushed to position themselves, fearing they would miss out.
As a result, the memecoin’s Open Interest climbed by 9.4% to $25.66 million, indicating increased participation as traders opened new positions. Significant capital also flowed into the futures market, with MemeCore recording $1.84 million in futures inflows compared to $1.47 million in outflows. The memecoin’s Long/Short Ratio jumped above 1 across exchanges, standing around 1.07, reflecting high demand for long positions.
On the spot side, the same sentiment was observed as the memecoin’s spot netflow flipped negative on the 24-hour timeframe. At press time, the netflow was -$26,000, suggesting traders purchased in an attempt to chase the rally. As demand recovered, the memecoin’s upside momentum strengthened, with the Relative Strength Index (RSI) forming a bullish crossover and rising to 47. MemeCore also flipped the 20-day Exponential Moving Average (EMA), showing short-term strength.
