MemeCore (M) jumps 80% in a day as market cap nears $2 billion, pressuring Shiba Inu’s meme-coin rank
AI Market Summary
MemeCore (M) surged 80% to near a $2B market cap, becoming the third-largest meme coin and pressuring Shiba Inu's relative positioning. The move follows a recent 76% crash and manipulation allegations; while the team claims no irregularities, RSI at 82 signals extreme overbought conditions. Persistent scam claims and reports that insiders control >90% of supply could weigh on meme-coin risk appetite despite broader BTC and SOL gains.
Impact level
● Medium
Affected assets
SHIB/USDT-0.12%
AI Insight · SHIB/USDTAI Insight
● Neutral
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MemeCore (M) surged 80% in a single day, pushing its market capitalization to just under $2 billion and positioning it as the third-largest meme coin, putting pressure on Shiba Inu (SHIB). The move follows a 76% drop and manipulation allegations, though the team said an internal and on-chain review found nothing suspicious. Technical indicators show an RSI of 82, and multiple analysts have publicly questioned the project, including claims that insiders control more than 90% of the supply. Bitcoin rose 4% and Solana gained 9% over the same period, while M’s sharp swings and negative chatter may weigh on the meme segment in the short term.
