MemeCore Rallies 11.2% to $1.32 as Memecoin Sector Gains 8%

MemeCore rallied 11.2% in the last 24 hours, trading around $1.32 after successfully holding support at $1.1. The surge occurred as the broader memecoin sector experienced capital rotation, with the total memecoin market cap rising 8% to $23 billion and trading volume climbing 77% to $2.85 billion. MemeCore's Open Interest increased 9.4% to $25.66 million, while Futures netflow dropped 89% to $365k amid $1.84 million in inflows. The Long/Short ratio reached 1.07, indicating bullish positioning among traders.

MemeCore Open Interest Climbs 9.4% to $25.66 Million

MemeCore's Open Interest rose 9.4% to $25.66 million as traders opened new positions. According to CoinGlass data, the memecoin recorded $1.84 million in Futures inflows compared to $1.47 million in outflows, resulting in Futures netflow of $365k.

The overall Long/Short ratio stood at 1.07 as of this writing, reflecting higher demand for long positions. On the spot side, MemeCore's spot netflow turned negative at -$26k on the 24-hour timeframe, suggesting traders purchased in an attempt to chase the rally.

RSI Forms Bullish Crossover at 47 as Price Flips 20-Day EMA

MemeCore's Relative Strength Index formed a bullish crossover and rose to 47. The memecoin flipped the 20-day EMA, showing short-term strength. According to the source, if demand holds and RSI flips 50, MemeCore will flip the 50-day EMA at $1.7. However, if this attempt fails, another pullback to $1.1 will follow.

MemeCore's trading volume dropped 13% despite the price rally, suggesting market participation has yet to fully recover.

FAQ

What caused MemeCore's 11.2% rally in the last 24 hours?

MemeCore rallied 11.2% as capital rotated into the memecoin sector, with the total memecoin market cap rising 8% to $23 billion and trading volume climbing 77% to $2.85 billion. The token successfully held support at $1.1 before climbing to $1.32.

How did MemeCore's Open Interest change during the rally?

MemeCore's Open Interest increased 9.4% to $25.66 million as traders opened new positions. Futures inflows reached $1.84 million compared to $1.47 million in outflows, while the Long/Short ratio stood at 1.07, indicating bullish positioning.

What technical levels does MemeCore face according to RSI analysis?

MemeCore's RSI formed a bullish crossover at 47 and the price flipped the 20-day EMA. According to the source, if RSI flips 50, MemeCore will target the 50-day EMA at $1.7. If demand weakens, the token may pull back to $1.1.