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MemeCore Kicks Off New Rally with 655% Gains! Will M See More Gains?
The cryptocurrency market has witnessed a significant surge in recent times, and it appears that MemeCore is leading the charge. According to AMBCrypto’s analysis, MemeCore (M) has recorded an astonishing 655% gain in just a few days, surpassing other altcoins. As the asset continues its upward trajectory, investors are left wondering if there’s more room for growth.
The catalyst behind this sudden increase is largely attributed to the protocol campaign that aims to attract liquidity to its chain and token. This move appears to have boosted investor confidence, as they begin to price in potential upside. This increased interest has seen a significant influx of M trading activity across exchanges, with a 25% jump in volume from $203,840 worth of sell-offs at the start of August.
As the asset continues its upward journey, technical analysis reveals some promising signals for investors. The Average Directional Index (ADX) is currently reading 58, indicating that this trend is backed by solid momentum and may persist. Furthermore, the breach of the 0.236 Fibonacci resistance level suggests a strong buying pressure. As M approaches the untested 0.5 Fibonacci resistance level, it’s imperative to monitor its progress closely.
It is also essential to note the shift in investor sentiment. Both spot and derivatives markets have seen investors pouring liquidity into M, with an accumulation of $172,000 worth of M over the past 48 hours. This trend aligns with the previous 90-day data from CoinMarketCap’s Altcoin Index, as M has led all altcoins with a staggering 655% return.
As the dust settles, traders and investors are left to ponder what this surge means for the future of MemeCore. While past performance may not be an indicator of future results, it is crucial to consider the momentum displayed by M in the last few days. With its continued upward trajectory and the ongoing campaign that promises $5.7 million in rewards, we can expect to see further growth.
It’s now up to you to take advantage of these insights.
Source: ambcrypto.com
