Recently, #memecore (M) reached an all-time high of $2.48, with trading volume and capital inflow continuously increasing, showing a clear short-term upward momentum 📈#MEME币狂欢
As of the time of publication, M has dropped to $2.24, but the overall upward potential still exists. Although the official app has been removed from Google Play, investor enthusiasm remains high, continuing to push the price to new highs.
🔹 Capital and trading volume are fueling the rise
The price surge is mainly driven by long-term bullish investors. Financing rate data shows that bulls are still in control, with the current financing rate at approximately 0.0026%, indicating a bullish market sentiment.
The trading volume of perpetual contracts remains at 1.097, indicating that more investors are buying MemeCore. Overall market trading volume surged by 107%, reaching $687 million, with prices and trading volume rising together, usually indicating high market activity, and M is expected to continue benefiting 💹
🔹 Technical aspect: Breakout bullish triangle
The hourly chart shows that the price has broken through the bullish triangle pattern, marking MemeCore's entry into the price discovery phase. Future increases depend on whether market momentum continues.
The Accumulation/Distribution (A/D) indicator shows that investors are continuously accumulating MemeCore, increasing the likelihood of further increases in the coming days. If the A/D indicator turns positive, prices may see a strong rally; conversely, if a downward reversal occurs, it may trigger a larger correction ⚠️
🔹 Spot market divergence
CoinGlass data shows that there is a slight divergence in sentiment between spot investors and the derivatives market. After three days of buying, sellers have taken over the market, marking the largest scale sell-off since August, but the total scale is still only $77,000, which has a limited impact on prices.
This means that the movements in the derivatives market may have a greater impact on the price trend of MemeCore 🔍
💡 Summary
Short-term goal: There is still upward space after the price breaks the triangle
Potential risk: A/D indicator reversal or intensified spot sell-off
Operation tip: Pay attention to the movements in the derivatives market, and short-term investors can buy on dips, while the long-term bullish momentum remains.
In simple terms, the recent popularity and capital inflow into MemeCore have made it a hot coin worth关注. After breaking $2.48, the historical highs in the $0.5-$1 range may be refreshed again 🚀💎
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