MemeCore Soars 85% Amid Binance Competition and Memecoin Market Revival

The memecoin market is roaring back to life, with MemeCore (M) stealing the spotlight after an explosive 85% surge in just 24 hours. Propelled by Binance’s latest trading competition and a wave of bullish sentiment in the memecoin sector, MemeCore has climbed to $0.6588, bringing its market cap to over $1.04 billion.

The rally began with the launch of Binance’s Alpha BNB Smart Chain Trading Competition on July 10, which rewards users for trading select tokens including MemeCore, AIN, and three others. The event sparked a 98% spike in MemeCore’s trading volume, which crossed $146 million, a sign of renewed retail interest in speculative digital assets.

This isn’t an isolated surge. MemeCore has seen an astounding 840% growth over the last month, fueled not just by exchange-led incentives but also by broader memecoin market momentum. This comes as Bitcoin hit a new all-time high of $117,000, giving the overall crypto market a massive push.

Dogecoin and Memecoins Outperform Broader Crypto Market

It’s not just MemeCore making headlines. Dogecoin (DOGE) has also joined the party, climbing to $0.20 before a slight pullback. DOGE’s rally has been supported by a dramatic rise in trading volume to $7.2 billion and an Open Interest of $2.65 billion in its derivatives market. Coinglass data shows that this surge has led to $13 million in liquidations, mostly targeting short positions, suggesting a strong bullish traders’ bias.

Data from CoinGecko shows that memecoins collectively surged over 12% in the last 24 hours, outperforming smart contract platforms and Layer-1 tokens, which saw more modest 6.2% and 6.1% gains, respectively. Despite following the general crypto market trend, memecoins have been showing signs of a comeback.

DOGE’s upward momentum is also supported technically. Its price sits comfortably above its 50-day, 100-day, and 200-day EMAs, while the Relative Strength Index (RSI) remains elevated at 80, suggesting overbought conditions but also continued trader enthusiasm.

Solana Memecoins Reawaken with LetsBonk

While Ethereum and BNB Chain memecoins are thriving, Solana-based memecoins are making a comeback of their own. LetsBonk, a rising star in the Solana memecoin space, has recently overtaken Pump.fun, the platform that once dominated the sector.

Pump.fun, which generated over $780 million in fees at its peak, saw a 90% drop in revenue following a failed coin launch and community mistrust. Now, LetsBonk is leading a new wave of memecoin activity on Solana, thanks to a buyback and burn policy that has boosted user trust and on-chain activity.

Pump.fun is attempting a revival with the upcoming $PUMP token launch on July 12, aiming to raise $700,000. However, skepticism remains high amid allegations of hypocrisy and misuse of pre-sale funds, casting a shadow over its prospects.

Strategic Moves and Speculation Ahead

Adding another layer of momentum to MemeCore’s surge is its strategic partnership with Klein Labs, a market maker focused on long-term crypto ecosystem value. This alliance is expected to bolster MemeCore’s credibility and sustainability, moving it beyond the “pump and dump” label often associated with memecoins.

Speculation is also rising over MemeCore’s potential entry into the Korean market via a KOSDAQ acquisition, which could act as the next major catalyst. Coupled with a Fear & Greed Index reading of 67, signaling healthy risk appetite among investors, the current rally seems far from over—at least for now.

Bottom Line

Whether MemeCore can sustain this momentum remains to be seen. Much will depend on the duration and impact of Binance’s competition, the performance of Bitcoin, and broader market sentiment.

However, with memecoins outperforming traditional crypto sectors and new platforms like LetsBonk reimagine the Solana memecoin landscape, it’s clear that memecoins are back in the spotlight—and traders are here for it.