Memecoins Soar 8% as MemeCore Surges

Memecoins have seen a sector-wide rebound, with their market capitalization increasing by 8% to $23 billion and trading volume up 77% to $2.85 billion.

The rally was led by MemeCore (M), which jumped 11.2% to around $1.32 after holding support at $1.1.

Increased trader interest was evident from a 9.4% rise in Open Interest and a bullish Long/Short Ratio above 1, signaling optimism.

Momentum indicators like RSI and EMA suggest short-term strength, but a failure to sustain gains could lead to a pullback to $1.1.