MemeCore (M) is the top-performing memecoin of the week, rallying 25% and printing a fresh all-time high of $4.83 during Friday’s early Asian session.
Technicals and derivatives overwhelmingly favor the bulls, with the Aroon Up line pinned at 100%, price holding above the Parabolic SAR, futures open interest up 35% this week to a YTD high, and funding rates persistently positive at 0.0426%.
The one cautionary signal is the coin’s RSI, deep in overbought territory — a short-term pullback to $3.72 is possible.
MemeCore (M) has emerged as the best-performing memecoin of the past week.
The token is currently trading at $4.62, up 25% in the last seven days.
The move comes as Bitcoin pushes back above $78,000 for the first time since early February, helping lift parts of the altcoin market.
Still, MemeCore’s gains have clearly outpaced the rest of the meme sector.
Dogecoin (DOGE), Shiba Inu (SHIB), and Pepe (PEPE) have all moved sideways, posting slight declines of 0.14%, 0.63%, and 2.29% over the same period.
Momentum is also building. Both technical indicators and on-chain data suggest MemeCore could be heading into a new price discovery phase, after briefly hitting a fresh all-time high of $4.83 during Friday’s early Asian session.
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An asset’s Aroon indicator measures the strength and direction of a trend by analyzing the time since its most recent highs (Aroon Up) and lows (Aroon Down).
When the Aroon Up line is rising — or maxed out at 100% — it indicates that price is consistently setting new highs, strengthening bullish momentum, and confirming the likelihood of a sustained uptrend.
This aligns with M’s price action, with the coin breaking out to an all-time high of $4.83 during Friday’s early-morning trading session.
Moreover, M’s rally has pushed its price decisively above the Parabolic SAR (Stop and Reverse) indicator, further strengthening the bullish case.
The indicator is currently offering dynamic support at $2.82, a level positioned to absorb any near-term sell-side pressure should profit-takers step in.
This metric tracks social mentions to gauge the overall market’s mood (positive or negative) around an asset.
It considers the volume of mentions and the ratio of positive to negative comments.
When weighted sentiment is positive, it indicates more positive than negative comments and discussions about the asset, suggesting traders are leaning bullish.
Historically, such trends have coincided with fresh spot demand, hinting that M’s price still has some room to grow in the near term.
Derivatives Flash Bullish for MemeCore (M)
Furthermore, trends in M’s derivatives market reinforce this bullish outlook.
Up 35% so far this week, the token’s futures open interest currently sits at a year-to-date high of $147.11 million.
An asset’s open interest measures the total number of outstanding derivative contracts — such as futures or options — that it has to settle.
When open interest declines, it typically signals waning market participation and weakening trader confidence in the prevailing trend.
Conversely, when it spikes the way M’s has this week, it points to fresh capital flowing into the market, with new long and short positions being opened rather than existing ones being closed.
Rising open interest alongside rising price is widely regarded as one of the best confirmations of a trend, as it indicates that the rally is being backed by capital inflow.
In addition, M’s funding rate has remained persistently positive throughout the week, currently sitting at 0.0426%.
The funding rate is a periodic payment that long and short traders exchange in the perpetual futures market to keep the contract’s price aligned with the underlying spot price.
When funding is positive, longs are paying shorts to maintain their positions.
This indicates that bullish bias dominates M’s derivatives market and that traders are willing to pay a premium to stay exposed to further upside.
Can MemeCore (M) Sustain the Rally Above $4.60?
With buy-side pressure continuing to build and derivatives positioning leaning firmly bullish, M looks well placed to hold its gains heading into the weekend, with the door open to fresh price discovery and a push toward new all-time highs should current momentum carry through.
However, M’s Relative Strength Index (RSI) is flashing a cautionary signal.
At press time, the momentum indicator stands at 81.80, showing the token is firmly overbought and may need a cooling-off period before the next leg higher.
Should profit-takers step in and force a short-term pullback, M’s price could drop to $3.72.
Disclaimer:
The information provided in this article is for informational purposes only. It is not intended to be, nor should it be construed as, financial advice. We do not make any warranties regarding the completeness, reliability, or accuracy of this information. All investments involve risk, and past performance does not guarantee future results. We recommend consulting a financial advisor before making any investment decisions.
Abiodun Oladokun is a Research Analyst at CCN, where he covers cryptocurrency markets with a focus on on-chain analysis, technical assessments, and emerging trends across decentralized finance (DeFi), real-world assets (RWA), artificial intelligence (AI), decentralized physical infrastructure networks (DePIN), Layer 2s, and meme coins.
Prior to CCN, he served as a Senior On-Chain Analyst at BeInCrypto, producing market reports spanning diverse crypto sectors.
Before that, he conducted technical analysis and market assessments of various altcoins at AMBCrypto, where he also contributed long-form quarterly research papers on DeFi, NFTs, DAOs, and scaling architectures, leveraging on-chain platforms including Messari, Santiment, DefiLlama, and Dune Analytics.
He began his crypto career as a research analyst at SixthSense DAO, developing blockchain forensic tools to trace the history of stolen assets.
Abiodun is a lawyer called to the Nigerian Bar and the founder of Ilé Ijó, a Lagos-based electronic dance music collective.
