MemeCore is a Layer 1 (L1) blockchain aiming to revolutionize the launch of tokens in a meme-focused environment.
MemeCore [M] has increased by over 35% in the past hours after breaking through a key resistance level and continues to set new highs at 3.88 USD. Can the bulls maintain the price above the recently broken resistance level at 3 USD?
The price action of MemeCore has set a new all-time high
At the end of March, the price of MemeCore broke out of the sideways accumulation phase that had constrained this altcoin since late November 2025. Over the past three weeks, M has consistently made new daily highs but struggled to break through the 3 USD threshold.
However, this altcoin has established a new all-time high (ATH) following a surge in buying activity, indicated by the RSI divergence turning bullish. The RSI divergence is at 9, while the MACD shows that buyer momentum is increasing.
The breakout indicates that the accumulation phase around the 3 USD level has ended and M has entered a growth momentum phase. However, price increases often tend to correct after such a strong breakout.
Source: TradingView
The question is whether the bulls can maintain M's price above the 3 USD level. This would make the 5 USD price target feasible in the second quarter (Q2) of this year.
Notably, traders may anticipate a correction to the 3 USD level to validate the breakout. A successful retest will require the bulls – those who have pumped large amounts of capital just below the 3 USD level – to defend the previous supply zone that has now become a demand zone.
Sharpe Ratio surges: Is profit-taking pressure approaching?
The price increase is driven by aggressive buying, with daily trading volume exploding by 146% to around 27.26 million USD. This altcoin has recorded its largest trading volume spikes since inception, indicating rising trading activity of the token.
Additionally, the number of token holders has surged to a weekly high of 6.82 thousand from a low of 6.5 thousand at the end of March. This indicates a growing community that helps the token maintain its appeal, as cryptocurrencies heavily depend on social sentiment and applicability.
However, there is a possibility that the price will decrease when trading around the 4 USD level. This is due to the Sharpe Ratio having surged from a negative 3.346 to 5.05 over the past 30 days.
This sudden increase indicates better returns compared to the risk accepted, which could encourage short-term traders to take profits. However, in the long term, such as over three years, this ratio is at 1.04.
Source: Messari
Thus, this altcoin may see profit-taking in the short term rather than the long term.
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