MemeCore Rallies 11.2% as Memecoin Sector Sees Unexpected Rebound

MemeCore has rallied by 11.2% over the past day, bucking the trend of weak demand in the memecoin market. This uptick comes as the sector-wide market cap rose 8% to $23 billion and trading volume increased by 77% to $2.85 billion.

The sudden change in momentum has led to increased participation from traders, with MemeCore's Open Interest climbing by 9.4% to $25.66 million. This surge in demand is also reflected in the memecoin's Futures inflow, which reached $1.84 million compared to $1.47 million in outflows.

The Long/Short Ratio has also flipped above 1 across exchanges, indicating that traders are predominantly opening long positions, suggesting bullishness and an expectation of continued market growth.