Although most crypto market sectors are consolidating, a few tokens have defied the neutral-to-bearish sentiment. Among them, MemeCore (M) has stunned meme coin investors with a 320% surge over the past month.<\/p>\n
However, the token\u2019s rally is showing signs of exhaustion, with its 24-hour price action becoming choppy as investors take profits. Although MemeCore is slowing down, its rise sparked renewed interest in the broader meme coin space, which grew by 3.4% today.<\/p>\n
After a month of sideways movement, meme coins appear ready to explode, which has savvy investors eyeing new opportunities. Let\u2019s take a closer look at MemeCore\u2019s technical outlook, and the meme coins that may soon follow in its footsteps.<\/p>\n
This publication is sponsored. CryptoDnes does not endorse and is not responsible for the content, accuracy, quality, advertising, products or other materials on this page.<\/strong><\/em><\/span><\/p>\n MemeCore started turning heads as a pioneering meme coin Layer 1 blockchain project this February, when its mainnet launched. Designed to introduce a new wave of \u201cMeme 2.0\u201d tokens, it garnered attention with its community-oriented rewards and \u201cProof-of-Meme\u201d consensus. Its utility token, M, surfaced in July, and the platform\u2019s popularity helped it gain traction shortly after its debut.<\/p>\n However, M\u2019s recent pump seems to be primarily speculative and driven by hype. That\u2019s because the ambitious Layer 1 has a fairly inactive user base, with only 700 active addresses over the past 24 hours \u2013 and a few million dollars in on-chain liquidity.<\/p>\n Despite these underwhelming metrics, M doubled in value over the past seven days, and is hovering around $1.96 at the time of writing. The sudden surge also led to MemeCore\u2019s Relative Strength Index (RSI) surpassing 86. This move into overbought territory typically indicates that a sharp correction will follow.<\/p>\n Traders seem to share that sentiment, as the token\u2019s long\/short ratio currently stands at 0.56. That means 63.79% of traders are expecting M to dip in the short term.<\/p>\n With buyers losing ground, M is struggling to maintain a position above $2, currently experiencing a 2% dip over the day. If profit-taking continues, M could face a trend reversal over the next week, potentially dipping to its strongest support level at $1.53.<\/p>\n Despite the bearish outlook following its overextension, MemeCore\u2019s pump underscores that meme coins remain one of crypto\u2019s most unpredictable sectors. Now, all eyes are on the tokens that could repeat M\u2019s success and deliver outsized gains while the rest of the market remains stuck.<\/p>\n After following Ethereum\u2019s (ETH) dip and ranging moves over the past few weeks, several Base chain meme coins are preparing to exit their consolidation phases. Among them, Brett (BRETT), the Ethereum L2 chain\u2019s leading meme coin, seems ready to deliver explosive gains if macro conditions align.<\/p>\n Following a 10% rise over the week, BRETT currently stands around $0.050. As such, it\u2019s just 4% away from surpassing its 50-day Simple Moving Average (SMA) of $0.052. If confirmed, the bullish crossover would signal the start of a strong short-term upward momentum for BRETT.<\/p>\n The technical analyst Steph Is Crypto believes surpassing this resistance would set BRETT on a path to $0.23.<\/p>\n However, Ethereum\u2019s performance remains a key indicator to watch. If the Fed confirms rate cuts next week, ETH could surge amid increased risk asset interest. The excitement could spill over into the Base Layer 2\u2019s meme coin ecosystem, fueling BRETT\u2019s potential 4-5x surge.<\/p>\n Pepe (PEPE) is one of the most successful hype-driven tokens in all of crypto, known for providing tremendous community-driven gains. However, as a high-market-cap asset worth $4.4 billion in total, PEPE\u2019s upside potential is severely limited \u2013 which is why investors are on the lookout for its successor.<\/p>\n
\nIs MemeCore\u2019s Pump Rooted in Speculation?<\/h2>\n
Brett (BRETT)<\/h2>\n
PEPENODE (PEPENODE)<\/h2>\n