MemeCore Jumps 11% as Open Interest Climbs After $66.8M Token Unlock

MemeCore rebounds after unlock-driven sell-off

MemeCore (M) is showing renewed bullish momentum after recovering from the heavy selling pressure triggered by last week’s token unlock event.

The token price has surged by 11% over the past 24 hours, making it one of the stronger performers across the altcoin market as traders return to assets showing improving technical structure.

The rebound comes after investors digested approximately $66.77 million worth of unlocked tokens, an event that initially sparked fears of increased selling pressure. Token unlocks often weigh on prices by increasing the circulating supply and creating opportunities for early investors or insiders to realize profits.

However, MemeCore’s latest recovery suggests that buyers have absorbed much of the additional supply entering the market.

Open interest surge signals growing market conviction

Beyond the price recovery, derivatives traders are also becoming increasingly optimistic.

Open interest across MemeCore futures markets climbed 10% over the last 24 hours to approximately $10.6 million, indicating fresh capital is flowing into the market.

Unlike rallies driven solely by spot buying, rising prices accompanied by increasing open interest typically suggest traders are opening new positions rather than merely closing existing shorts.

The combination often reflects growing confidence that the latest recovery has room to continue.

If funding rates remain stable while open interest continues climbing, it could reinforce the current bullish trend by confirming that leveraged traders are supporting the move rather than betting against it.

Bulls attempt to reclaim key technical resistance

The technical picture has also improved considerably.

On the daily chart, MemeCore is approaching a decisive test of its 20-day Exponential Moving Average (EMA), one of the first major resistance levels the token has faced since last week’s correction.

A successful close above this moving average would mark an important shift in short-term momentum and could encourage additional buyers to enter the market.

Meanwhile, volatility remains elevated following the recent unlock event, increasing the probability of larger price swings over the coming sessions.

Periods of heightened volatility often accompany major trend reversals as buyers and sellers compete for control of market direction.

Should buyers successfully reclaim the 20-day EMA, attention could quickly shift toward higher resistance levels established before the unlock-driven decline.

Can MemeCore complete a bullish structural reversal?

The next few trading sessions may determine whether MemeCore’s recovery develops into a broader trend reversal.

Although token unlocks frequently create sustained selling pressure, the market’s ability to absorb this week’s additional supply while pushing prices higher points to improving demand.

The simultaneous increase in trading activity, expanding open interest, and strengthening technical structure all suggest sentiment is beginning to shift back in favor of the bulls.

Still, the 20-day EMA remains the immediate hurdle. A decisive breakout above that level would strengthen the case for a structural bullish reversal and potentially attract further momentum traders into the market.

As it stands, MemeCore appears to have moved beyond the worst of last week’s unlock-driven selling. Whether that recovery evolves into a sustained uptrend will likely depend on whether institutional participation continues to expand alongside improving technical momentum.

Source:: MemeCore Jumps 11% as Open Interest Climbs After $66.8M Token Unlock