ME Surges 30% as Institutional Inflows, Short Liquidations, and Magic Eden News Drive Rally

The MEUSDT pair on Binance experienced significant price appreciation over the past 24 hours, with the current price at 1.071, up 30.29% from the 24h open of 0.822, alongside increased trading volume and heightened market activity. This sharp price movement can be attributed to renewed institutional inflows into the broader crypto market, positive sentiment following Magic Eden's collaboration announcement with the TRUMP memecoin project to develop the TRUMP Wallet, and a notable short liquidation event of $196,000 at $1.013, which likely contributed to upward price momentum. The overall market recovery, driven by stabilizing macroeconomic conditions, increased spot ETF inflows, and strong performance in major cryptocurrencies, also played a role in supporting MEUSDT's price surge.