Over $870,000 in Shorts Liquidated as MemeCore ($M) Price Spikes 14%
Main Idea
MemeCore ($M) experienced a 14% price surge, driven by a short squeeze that liquidated over $870,000 in short positions, with technical indicators suggesting potential for further upward momentum.
Key Points
1. MemeCore ($M) surged nearly 14% in 24 hours, breaking key resistance at $0.47 and reaching an intraday high of $0.4949.
2. A short squeeze led to $874,800 in short positions being liquidated, compared to $286,700 in long positions.
3. Technical indicators like RSI at 63.75 and MACD in positive territory suggest the rally may continue toward $0.50.
4. Trading volume dipped by 19% to $32.06 million, but the volume-to-market-cap ratio of 4.08% indicates healthy liquidity.
5. The $0.4376 level now acts as strong support, while $0.50 is the next critical resistance level.
Description
MemeCore ($M) breaks key resistance at $0.47, confirming a short-term bullish reversal. Liquidations of $874.8k in shorts triggered rapid price acceleration on major exchanges. RSI at 63.75 and MACD in positive zone suggest momentum may continue toward $0.50 MemeCore ($M) caught the market’s attention on Monday with a sharp rally, surging nearly 14% in 24 hours. The token’s price climbed from a low of $0.4376 to an intraday high of $0.4949 , marking a decisive break from its recent sluggish trad...
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