📈 Cryptocurrency Analysis: The MemeCore Phenomenon and Its Movements in the Market much better than word liberty of the Trump family 🚀
A new name is dominating the cryptocurrency market, generating a huge buzz and shaking up the top 100 by market capitalization: MemeCore. This Layer 1 blockchain, focused on being an ecosystem for memecoins, saw its native token, M, soar over 4,700% since its launch in July, achieving one of the best performances in the market.
Several factors seem to be behind this impressive rise. One of the main catalysts was MemeCore's bold marketing action, which rented the Lotte World theme park in Seoul for a special event during Korea Blockchain Week.
Furthermore, MemeX's Liquidity Festival initiative, which allocated US$ 5.7 million to boost the liquidity of MRC-20 tokens, also coincided with the appreciation. Finally, the Bitcoin rally, which surpassed the mark of US$ 112.000, boosted the market as a whole, benefiting altcoins like M.
Currently, the MemeCore token is already in the top 5 of the most valuable memecoins. Technical analysis shows that the price is in a sharp upward trend, with the crossing of the US$ 1 level consolidating the upward movement.
Looking at the next steps, the most important resistance levels for the price of M are at US$ 1.756 and US$ 1.900. The crucial support levels for consolidation are US$ 1.620, US$ 1.549, and the strongest, US$ 1.000. Although the Relative Strength Index (RSI) indicates a loss of momentum for the "bulls" in the short term, the trading volume remains strong, suggesting that there is a continuous flow of capital into the token.
