MemeCore price rally extends today as the token surged past $1.60. Consequently, it ranks among the week’s top gainers.
The move followed stronger market sentiment, Bitcoin’s climb above $61,000, and MemeCore’s $10 million treasury buyback. Furthermore, renewed demand across meme coins also supported the latest recovery.
Why MemeCore price rally extends today
MemeCore price is trending upward due to increased demand and improved market sentiment. Specifically, the token has risen over 70% in the last week and over 50% in the past 24 hours.
The move helped raise MemeCore’s market capitalization to over $2.07 billion. Therefore, it is now part of the group of stronger performers.
The recent market shock recovery has been followed by the latest rally. For example, leveraged positions were hit by a big selloff that put pressure on MemeCore. Traders estimated that approximately $8 million worth of long positions were closed during that move.
Nevertheless, confidence grew when the project announced a treasury buyback of over $10 million. Its review revealed no protocol or infrastructure issue, the team said. It also denied selling by the team or foundation during the crash.
Crypto market surge supports MemeCore rally
The broader crypto market also contributed to MemeCore’s bounce back. Specifically, over the past 24 hours, the overall crypto market has gained 1.05% to $2.14 trillion. That recovery stimulated new “speculative demand.”
Bitcoin continued to rise above $61,000, with ETF inflows fueling sentiment. The pickup came as a relief to risk appetite which had been dented by the earlier selling pressure. Additionally, the Ethereum blockchain also rose for the second consecutive day on the back of fresh capital inflows.
Other major altcoins such as XRP also rose in the session. Therefore, this overall rally provided meme tokens with more room to rally. MemeCore gained from trading activity looking for high momentum stocks.
DOGE, SHIB, PEPE, PENGU, and BONK lead meme coin recovery
The top meme coins gained new momentum as industry demand enhanced. Specifically, the market capitalization of the meme coin sector is at $27.6 billion, following a rise of 2% over the past 24 hours.
The recovery saw gains from Dogecoin, Shiba Inu, Pepe, Pudgy Penguins, and Bonk. For example, BONK rose by approximately 13% and contributed to the increase in focus toward Solana-linked meme assets. Consequently, increased social activity also facilitated a revival of purchasing enthusiasm in the industry.
This background led to improved conditions for MemeCore’s rally. Large names tend to bounce back, and traders begin to buy smaller meme tokens. Therefore, such rotation served MemeCore to generate new demand and greater volume.
MemeCore price prediction: key levels to watch next
The price of MemeCore is currently undergoing a critical test of the $1.60 area. Specifically, the $1.57 level is also a significant support-cum-launchpad for buyers. The zone above this may fuel another push to higher resistance.
A long-term breakout can lead to a trend in the direction of the $2.20 to $2.55 range. That region coincides with key moving averages’ resistance. An overhead clean break would enhance the recovery framework.
On the negative side, the first support sits at $1.50. Lower supports sit near $1.45 and $1.40. A break below $1.30 would undermine the existing bullish structure.