MemeCore Rallies on Futures Manipulation Amid Low Network Growth
MemeCore has surged on perpetual futures activity despite stagnant network growth, with only 33 new addresses joining in a recent 24-hour period. The token, listed on Kraken since its founding in 2011, is consolidating ahead of the weekend.
Key Takeaway
Low network activity and stagnant holder growth suggest MemeCore's rallies are futures-driven, not organic demand.
Several altcoins are consolidating above support levels heading into the March 28-29 weekend after staging rallies earlier this week.
BeInCrypto flagged three tokens showing setup patterns for potential breakouts or breakdowns. MemeCore stands out among the tokens tracked. The Layer 1 blockchain operates independently without relying on Ethereum or Binance Smart Chain for core activity, using a Proof of Meme consensus mechanism that rewards cultural participation over pure hype.
Network activity tells a different story. Only 33 new addresses joined MemeCore in a recent 24-hour period, and holder growth has stagnated across wallets holding various amounts despite sharp price swings. Price movements appear driven by perpetual futures manipulation, with rallies coinciding with highly negative financing rates—more traders betting on price drops, prompting market makers to buy. MemeCore hit its all-time high on September 18, 2025, and touched its all-time low on July 3, 2025, with the token listed on Kraken.
This article was written based on reporting from BeInCrypto.
