04.08.2025 09:47

MemeCore ($M) experienced a remarkable 14% price surge in a single day, driven by a significant short squeeze, according to data from internet sources. This rapid increase propelled the token from a low of $0.4376 to a high of $0.4949, marking a clear break from its recent period of stagnant trading. The swift upward movement signaled a potential short-term bullish reversal.

A key resistance level at $0.47 was decisively overcome, accelerating the price increase considerably. This breakthrough, coupled with the liquidation of $874,800 in short positions – significantly outweighing the $286,700 in liquidated long positions – points to a classic short squeeze as the primary catalyst. The majority of this activity transpired on major cryptocurrency exchanges, such as Binance and Bybit.

Technical indicators further support the bullish momentum. The Relative Strength Index (RSI) reached 63.75, indicating overbought conditions but also suggesting the possibility of further price increases. Moreover, a positive reading on the Moving Average Convergence Divergence (MACD) adds weight to the argument for sustained upward pressure. This suggests the current uptrend might continue towards the $0.50 mark.

The $0.4376 level now acts as robust support, providing a foundation for the current uptrend. Should a price retracement occur, this level is likely to serve as a crucial support area, potentially launching another upward rally. The combination of the short squeeze, broken resistance, and positive technical indicators paints a picture of significant short-term bullish potential for MemeCore ($M).