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Today’s Top Crypto Gainer: MemeCore’s M Surges 20% as Bulls Take Charge

1 min
Updated by Ann Maria Shibu
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In Brief

  • MemeCore’s native coin, M, saw an over 20% surge, reaching a price of $0.55, signaling strong bullish momentum.
  • Breaking above its previous resistance at $0.41, M is now poised to reach $0.63 if demand continues.
  • Technical indicators show rising capital flow and price above the 20-day EMA, reinforcing the case for further price increases.
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M, the native coin of MemeCore, the first Layer-1 (L1) blockchain built for memes, is today’s top gainer in the crypto market. The coin’s price has surged more than 20% in the last 24 hours. 

With bullish momentum building, M might be gearing up for even more gains in the short term.

M Double-Digit Surge Puts Bulls Back in the Driver’s Seat

M’s double-digit rally comes after it closed above the narrow trading range that its price traded within between July 15 and August 4. During that period, the altcoin faced resistance at $0.47 while finding firm support at $0.31, creating a tight channel of indecision in the market.

However, a resurgence in new demand has now propelled M above the $0.47 price barrier, signaling a potential shift in sentiment.

For token TA and market updates: Want more token insights like this? Sign up for Editor Harsh Notariya’s Daily Crypto Newsletter here.

M Horizontal Channel.
M Horizontal Channel. Source: TradingView

On the daily chart, technical indicators like M’s Chaikin Money Flow (CMF), which tracks the flow of capital into and out of the asset, confirm that positive bias may be gaining ground. This adds weight to the case for further upside.

As of this writing, the momentum indicator is at 0.01, having just broken above the zero line. This shift signals that buying pressure is beginning to outweigh selling activity, a pattern that is an early confirmation of bullish momentum.

M CMF
M CMF. Source: TradingView

This uptick in money flow could help M maintain its upward trajectory over the next few trading sessions before exhaustion sets in.

Furthermore, M currently trades above its 20-day Exponential Moving Average (EMA), reflecting the buy-side pressure in the market.  

M 20-Day EMA

M 20-Day EMA. Source: TradingView

As of this writing, the key moving average forms dynamic support below the coin’s price at $0.40. For context, M currently trades at $0.55.

The 20-day EMA measures an asset’s average price over the past 20 trading days, giving weight to recent prices. When the price trades below the 20-day EMA, it signals increasing distribution and weakening short-term support.

On the other hand, when an asset’s price trades above this level, it means short-term bullish momentum is climbing, buyers are in control, and they can drive further gains.

M Climbs Out of Consolidation, But Can It Stay There?

M’s recent breakout from its sideways pattern marks a shift from consolidation to a potential bullish trend. If accumulation strengthens, the altcoin’s price could climb to $0.63, a high last observed on July 13.

M Price Analysis.
M Price Analysis. Source: TradingView

However, if profit-taking activity resumes, this bullish outlook would be invalidated. In that scenario, the M’s price could shed some of its recent gains, break below $0.52, and attempt to fall back within the narrow range.

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Disclaimer

In line with the Trust Project guidelines, this price analysis article is for informational purposes only and should not be considered financial or investment advice. BeInCrypto is committed to accurate, unbiased reporting, but market conditions are subject to change without notice. Always conduct your own research and consult with a professional before making any financial decisions. Please note that our Terms and ConditionsPrivacy Policy, and Disclaimers have been updated.

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Abiodun Oladokun
Abiodun Oladokun is a Technical and On-Chain Analyst at BeInCrypto, where he specializes in market reports on cryptocurrencies from diverse sectors, including decentralized finance (DeFi), real-world assets (RWA), artificial intelligence (AI), decentralized physical infrastructure networks (DePIN), Layer 2s, and meme coins. Previously, he conducted market analysis and technical assessments of various altcoins at AMBCrypto, utilizing on-chain analytics platforms like Messari, Santiment...
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