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MemeCore Price Analysis: M Token Hits ATH as Bulls Target $2

Highlights:

  • Memecore price is boasting a bullish muscle, gaining a spot among the top gainers today.
  • The meme coin is among the best-performing cryptocurrencies, as it hit an ATH at $1.37.
  • The technical indicators show a positive momentum as the bulls target $2 by the end of September.

The MemeCore Price is showing strong bullish momentum, rallying 35% to $1.35. The trading volume has notably spiked 19% indicating growing investor optimism. Memecore ($M) has recently taken the crypto market by storm, as it is rated as the best-performing cryptocurrency in the top 100 in the past 90 days. MemeCore has been leading its counterparts with a fantastic growth of 153.17, as seen in the chart provided by Satoshi Club. This expansion not only emphasizes its explosive performance but also highlights the growing interest of the market in meme-based cryptocurrencies. 

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Along with its fantastic price action, the market data of MemeCore also depicts a high trading volume, surging 40.62% to 1.69 billion. The open interest has notably increased by 55.03% to $142.60 million. This rapid growth in volume and open interest indicates that traders are becoming more confident that MemeCore will continue to rise in the next few weeks.

MemeCore Derivatives Data. Source: CoinGlass

Another bullish indicator is the Long/Short ratio, which is currently good at 1.0396. The long positions have outdone the short positions, which means that the market is inherently optimistic. 

MemeCore Price Soars in a Parabolic Curve

The M/USD 4-hour chart is showing a strong bullish outlook, as it spikes in a parabolic curve. The meme coin has spiked to a recent ATH at $1.37, with the bulls showing no signs of slowing down. Further, the current support zones are at $0.51 and $0.68, bolstering the positive outlook.  

MemeCore price
M/USD 4-hour chart: TradingView

The technical indicators further support the bullish momentum in the market. The RSI at 85, however, calls for caution as it shows intense buying pressure. In the meantime, traders and investors should be careful to escape the bullish trap. On the other hand, the MACD is upholding a buy signal, calling traders to continue buying M tokens unless the MACD changes. 

M Token Signals a Pullback Amid Overbought Conditions

Looking at the bigger picture, the 35% pump indicates that the Memecore price is gaining momentum and potential, but traders should tread carefully. This is because the RSI has hit 70 and might be time for traders to hit the sidelines and watch for a pullback. In the short term, the Memecore price could push to $1.50 within the next few days, with a stretch goal of $2.00 if volume spikes. 

However, with the RSI showing an overbought picture, a healthy pullback to $1.13-$0.96 support zones is expected. However, a breach below $0.68 will call for further downside towards $0.51, invalidating the bullish sentiment. Long-term, if this trend holds, the meme coin could see $2 by the end of September, but it’s all about those support levels holding strong.

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