MemeCore is a layer 1 (L1) blockchain aimed at revolutionizing the launch of tokens in a meme-native environment.
MemeCore (M) rose over 35% in the past few hours after breaking through a key resistance level and subsequently reached a new high of $3.88. Can the bulls sustain the price above the broken resistance level at the $3 zone?
MemeCore Price Action Creates New ATH
In late March, MemeCore price broke out of a sideways consolidation that had held the altcoin since late November 2025. Over the past three weeks, M has reached new daily highs but has struggled to break above $3.
However, the altcoin reached a new all-time high (ATH) after a sharp increase in buying activity, indicated by the bullish reversal in the RSI divergence. The RSI divergence was at 9, while the MACD indicator showed buyer momentum increasing.
The breakout suggested that the accumulation phase around $3 was over and M had entered a bullish momentum phase. However, price increases tend to correct after such an aggressive breakout.
The question remains whether the bulls will be able to keep the price of M above $3. This would ensure that the $5 price target remains a possibility during this second quarter (Q2) of the year.
Notably, traders could expect a return to $3 to confirm the validity of the breakout. A successful retest would require bulls injecting massive capital just below $3 to defend the previous supply zone that turned into a demand zone.
Sharpe ratio peaks: is profit-taking looming?
The rally was fueled by aggressive buying, with daily trading volume exploding 146% to around $27.26 million. The altcoin has seen the largest volume bars since inception, indicating increased trading activity of the token.
Additionally, the number of token holders reached a new weekly high, reaching 6,82,000 from a low of 6,5,000 at the end of March. This suggests that the growing community is keeping tokens relevant, as crypto depends on social sentiment and utility.
However, it is possible that the price could drop as it is trading around $4. Indeed, the Sharpe ratio over the last 30 days has increased from minus 3.346 to 5.05.
This spike suggests better returns relative to the risk taken, which could encourage short-term traders to take profits. However, in the long term, i.e. over three years, the ratio stands at 1.04.
That said, the altcoin could generate short-term rather than long-term profit-taking.
Final summary
- MemeCore jumps 35% in 24 hours, posting a new all-time high of $3.88.
- M’s Sharpe ratio has reached 5, which could be a sign of impending profit-taking.
