MemeCore (M) fluctuates 65.1% in 24 hours: Hard fork upgrade and trading volume surge drive pump

Volatility Brief

In the past 24 hours, MemeCore (M) price pumped from a low of $1.70 to a high of $2.806, currently quoted at $2.411, with a fluctuation range of 65.1% and an overall increase of around 39-42%. 24-hour trading volume surged to approximately $30.93 million, up 105.69% from the previous period.

Brief Analysis of Abnormal Fluctuations

• Hard fork upgrade launched: MemeCore hard fork activated Account Abstraction and Gas reduction features, directly improving user experience and reducing transaction costs, pushing the price to pump rapidly from $1.70.

• Trading activity explosion: 24-hour trading volume soared 515.3% to 518,000 transactions, open interest (OI) grew by 18.7%, significant capital inflow was observed, accompanied by signs of short squeeze.

Market Views and Outlook

Community sentiment is mixed, CoinGecko shows 47% bearish sentiment; mainstream opinions on X platform are split, with half calling to "buy the dip," while the other half considers it a "liquidity exit" and warns of a pullback. Santiment points out this is a speculative pump influenced by BTC sideways movement. Price needs to break through the $3 resistance in the future; otherwise, it faces a risk of a correction at higher levels.