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TL;DR
- The token experienced a major price increase after securing listings on top exchanges over the past week.
- While M’s explosive rally has sparked talk of long-term growth, its meme coin nature makes it highly volatile, offering big upside potential, but just as steep a downside.
The Latest Sensation?
The recently launched meme coin MemeCore (M) has been among the top-trending cryptocurrencies in the past few days due to its spectacular price increase. It is up a whopping 1,110% on a weekly scale, currently trading at around $0.68.
M, which debuted on July 3, quickly ascended to the top 100 crypto club and, as of this writing, is the 99th-largest digital asset.
The rally seems to have been fueled by backing from some of the leading crypto exchanges. The M/USDT trading pair became available on Binance Alpha, Kraken, Bitget, BingX, HTX, and Hashkey on July 4.
“To commemorate this milestone, each participating exchange will be launching exclusive trading campaigns and giveaways to reward users. Full campaign details can be found on the respective exchange platforms,” the announcement informed.
Such support increases the asset’s liquidity and accessibility and injects it with a reputational boost – factors that have historically driven prices of other involved cryptocurrencies upward.
Partnerships may have also played a positive role in M’s recent ascent. Earlier today, the team behind the project welcomed the market maker Klein Labs as a “strategic investor.”
MemeCore presents itself as “the first Layer 1 blockchain specially built for Meme 2.0.” The team noted that most meme coins are born from speculation and die by it.
“MemeCore is building a new foundation – an ecosystem where longevity, creativity, and shared prosperity define the next generation of meme coins,” the project claims.
What makes MemeCore unique is its Proof of Meme (PoM) consensus mechanism. The team described it as “an evolution framework built around the full lifecycle of a meme coin.” The mechanism is used to reward community engagement and validators.
More Gains Ahead?
Several industry participants highlighted M’s price rally. One X user claimed the meme coin might be “laying the groundwork for something deeper.”
‘This isn’t just hype; it’s an ecosystem in motion. Tokens don’t just rise; they evolve. The question is: will you ride it or watch it leave,” they added.
However, traders should keep in mind the volatile nature of such tokens, as they can crash violently in a short period of time.
The post MemeCore (M) Explodes by 1,100% Weekly: What’s Fueling the Parabolic Move? appeared first on CryptoPotato.
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