The broader market is getting crushed, while meme coins are soaring.
10-23, Phemex Daily Market Recap: MemeCore’s M
hit a 24-hour high of around $0.90, shooting straight to the top of CMC’s gainers list.
It’s pulled back a bit intraday and is now around $0.85, still up about 16% over 24 hours.
Its 24-hour range was $0.755–$0.966,
with a market cap of around $2 billion and a CMC rank of about 51.
There are 2.3 billion tokens in circulation, out of a total supply of 10 billion.
There’s no mystery behind the rally—two things came together.
First, sector rotation into memes: when the broader market has no clear direction, funds tend to flow into meme coins.
Second, M recently connected its omnichain infrastructure with LayerZero and Stargate,
allowing M, USDC, and USDT to move directly between BNB Chain and Base.
On the same day, BTC was still grinding below 82k, down about 3% on the day.
When the major coins are cooling off, memes tend to heat up. We’ve seen this play out several times this year.
Meme coins all have the same temperament.
They rise fast and fall fast—and there are always more spectators than people counting profits.
#MemeCore $M Just my personal opinion; not investment advice.