MemeCore Price News: M Needs to Break $3 Resistance to Keep Rallying

MemeCore (M) has risen by nearly 36% in the past 24 hours and is once again above the $2 threshold after news that the network’s gas fees dropped significantly.

According to the project’s official X account, MemeCore implemented two hard forks to lower transaction fees and adjust to the latest changes made to the Ethereum Virtual Machine (EVM).

Fees should drop by 1/100 according to the project’s statement, and will also create room for the implementation of layer-two chains that make MemeCore more scalable in the long run.

What is MemeCore?

MemeCore is a purpose-built layer-one chain specialized in meme coins. According to on-chain data from MemeCore’s blockchain explorer, the network currently processes an average of 13,000 transactions per day.

However, it managed to process over 100,000 transactions in the last couple of months of 2025. Since then, usage has been steadily dropping to current levels, which translates into a 90% drop.

Nevertheless, the network’s native asset, $M, has booked a 67% gain in the past 30 days alone, reflecting investors’ persistent interest in the token.

Liquidity is quite thin with only $28 million worth of the token being exchanged in the past 24 hours – a figure that accounts for less than 1% of its circulating market cap.

The explorer also indicates that more than 800,000 token addresses currently exist in the MemeCore blockchain. However, the specific volumes and trading activity of these tokens are not visible via the explorer’s website.

This is a layer-one project with a clear vision and scope, but evidence of its popularity and success is scarce. Hence, proceed with caution.

M Could Rise to $5 If This Happens

Moving to the charts, the daily time frame shows that M has hit a key resistance at $2.80 that has already acted as a major ceiling in previous instances.

It has been five months since the price hit this mark, which makes today’s uptick quite relevant from a technical standpoint.

If today’s rally continues and breaks past the $3 area, M will enter uncharted territory. The token’s all-time high currently sits at $2.96, or 22% away from where the price is right now. Hence, we just need another move like today’s to make a new record.

The selling pressure has already accelerated since M touched the $2.80 area. This is normal, as many investors could be aiming to exit their positions at a point when market sentiment remains relatively shaky.

This is a project that still has to demonstrate its use cases. It competes directly with Solana, the dominant L1 in the meme coin space, and it is not as transparent as the latter.

The Relative Strength Index (RSI) just crossed the “overbought” threshold, which increases the odds of a pullback. However, the rally could still keep going for a while before this overheated reading becomes a reason to be worried.

We see the $5 target as possible if the $3 mark is broken, meaning a 66% upside potential. These are speculative tokens that tend to rally rapidly via thin liquidity and short squeezes.