MemeCore is a Layer 1 (L1) blockchain aiming to revolutionize the launch of tokens in a meme-native environment.
MemeCore [M] rose by more than 35% in the past hours after breaking a key resistance level and went on to print a new peak of $3.88. Can bulls maintain the price above the broken resistance level in the $3 zone?
MemeCore price action makes a new ATH
In late March, MemeCore’s price broke out of a sideways consolidation that had held the altcoin since late November 2025. Over the past three weeks, M has been making new daily highs but struggling to break past $3.
However, the altcoin made a new all-time high (ATH) after a surge in buying activity, indicated by the RSI Divergence flipping bullish. The RSI divergence reading was at 9, while the MACD indicator showed that buyer momentum was growing.
The breakout suggested the accumulation phase around $3 was over and M had entered a bullish momentum phase. However, price rallies tend to correct after such an aggressive breakout.
The question remains if bulls can manage to keep the price of M above $3. This would make the $5 price target remain a possibility in this second quarter (Q2) of the year.
Notably, traders could anticipate a snap-back to $3 to confirm the validity of the breakout. A successful retest would need bulls who pumped massive capital just below $3 to defend the previous supply zone that had turned to a demand zone.
Sharpe Ratio spikes: Is profit-taking looming?
The rally was driven by aggressive buys, with daily trading volume exploding by 146% to around $27.26 million. The altcoin saw the biggest volume bars since the start, indicating increased trading activity of the token.
Additionally, the number of token holders spiked to a new weekly high, reaching 6.82K from a low of 6.5K at the end of March. This suggested growing community keeps tokens relevant, as crypto is dependent on social sentiment and utility.
However, there was a possibility of the price falling as it trades around $4. This is because the Sharpe Ratio over the last 30 days had jumped from negative 3.346 to 5.05.
This spike suggested better returns relative to risk taken, which could prompt short-term traders to take profits. However, over the long term, like three years, the ratio was at 1.04.
That said, the altcoin may see short-term profit-taking rather than long-term.
Final Summary
- MemeCore surges 35% in 24 hours, printing a new all-time high of $3.88.
- M’s Sharpe Ratio spiked to 5, which could be a hint of looming profit-taking.