MemeCore [M] booms 16% as memecoins surge: Will the rally last?

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Key Takeaways

So, why did MemeCore [M] rally?

Ah, the sweet smell of a 16% surge. M shot up like a rocket, thanks to memecoins making a 66% monthly gain. The perpetual market is just throwing money at it, clearly hoping for some magic… or maybe just a meme that’ll send them to the moon 🚀. Either way, it’s happening.

Why are traders still playing it safe though?

Well, despite the fireworks, there’s a 66% taker-sell dominance. Not exactly a vote of confidence. Spot volume is a pathetic $45 million, which, quite frankly, is like getting a participation trophy at the crypto Olympics. 🏅

So MemeCore’s had a little glow-up, but the question remains-how long will this hype last? Can it maintain its fabulous new look, or will it fade back into the memecoin abyss? 🤔

Meme performance pushes M

Seems like MemeCore’s 16% jump is tied to the memecoin wave that’s been pushing everything up lately. It’s like everyone’s on a group chat that just keeps sending memes, and M’s the VIP guest in the middle. Data from Artemis’ sector performance index shows a whopping 66% growth in memecoins. Who knew memecoins would be the cool kids at the party? 🎉

What’s fueling MemeCore’s rise? It’s the infrastructure, baby. M’s the platform that powers some of the memecoins, which boosts its demand. All the cool kids are using M to launch their stuff, and that means it gets a little bump in the process.

Now, if you’re looking at the spot market and hoping for action, sorry, it’s been pretty dull. Only about $92,000 in buys. It’s like looking for a wild party and finding a house of introverts quietly playing chess. 🧩

This could mean that investors are still figuring out whether M is their next big crush or just a fling. Until there’s more buying action, the bears might show up at any moment. 🐻

Perpetual capital drives the market

Let’s talk about what’s really pushing M’s price-money. Capital is flooding in from the perpetual market. Open Interest spiked by 17% in one day, adding $17 million. That’s like finding a treasure chest in your backyard. 🏴‍☠️

Also, shout out to the longs, who are clearly betting on the market continuing to pump. They’re the ones putting their money where their memes are. 💸

Short traders, on the other hand, are probably crying in their pillowcases right now. The total liquidations in the short positions hit $1.6 million. That’s a lot of tears in the crypto world. 😢

With all that money flowing into long positions, it looks like M’s got a good shot at stretching out those gains. Who knows, maybe it’ll trigger a short squeeze. All I know is, the drama is real.

Should longs be cautious?

Now, let’s dial it down a notch. Not everything is sunshine and rainbows in memecoin land. The derivative trading volume isn’t exactly matching the bullish hype. In fact, short positions are the real heavy hitters right now. 🍿

The Taker Buy-Sell Ratio is showing a 66% dominance from sellers. That’s like the sellers having the mic at karaoke night and nobody else gets a turn. 🤦‍♀️

And oh, the spot trading volume? Still pretty weak, coming in at just $45 million. M’s market cap is $2.66 billion, which is impressive, but that low volume makes the whole thing feel… wobbly. Like walking on a tightrope with no safety net. 🤸‍♀️

So, while M’s riding high now, there’s still a chance that this rally could come crashing down faster than a cat meme on a bad day. 😬

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2025-09-22 06:20