Memecore (M) Gains 25% to $0.95, Overtakes Pepe in Memecoin Rotation

Update 00:12 UTC: The pressure on Dogecoin comes despite fresh work on its utility.

Memecore Tops PEPE for Fourth Place

Memecore (M) changed places in a single session: the token added roughly 25% over 24 hours on October 22, briefly clearing $0.95 for the first time since October 12 before easing back to trade near $0.91. The advance lifted it past Pepe into fourth place by market capitalization within the memecoin sector, and it happened while major names such as Dogecoin (DOGE) and Shiba Inu (SHIB) moved the other way. Dogecoin fell 5.5% over the same window to about $0.078, so the reshuffle came from one token's climb rather than demand across the board. Live monitoring placed Dogecoin at $0.07837 at the time of writing, flat over the past two hours and 5.5% lower across the day. The rally pushed Memecore's market capitalization above $2 billion and to 51st place in the overall digital-asset market, against roughly $1.8 billion for Pepe, now fifth. That gain landed during a stretch when the broader market was under correction pressure, which makes a one-day, quarter-sized advance stand out even more. Pepe's displaced fourth spot is the concrete change the day produced; the rest of the sector's order held. Traders tracing the move point to infrastructure work rather than a single catalyst. The Memecore development team announced on its official X account that it is winding down the Meson Tunnel and Meson Express bridge services and has transferred the M token's liquidity to LayerZero, the cross-chain messaging protocol that will now carry asset transfers between blockchains. The team also said that USDC.e tokens moved through the old Meson services are being migrated to new Stargate contracts in cooperation with the Meson side, a detail that matters for anyone who bridged assets before the switch. The cleanup leaves M holders one maintained route for cross-chain transfers instead of two aging ones.

Technical readings have fed expectations of further gains, and they carry the clearest warning at the same time. Analyst Crypto With Gopal reads the chart as a break out of a long downtrend into a strong upward impulse: once the $0.80 resistance gave way, buying arrived aggressively. In his view, holding $0.85 as support would open the path past $0.96 toward the psychological $1 line, though he adds that the trend needs sustained buy pressure before it can be confirmed. He stopped short of calling the uptrend confirmed. The overbought side of the ledger is harder to ignore. Memecore's relative strength index (RSI), which measures the strength of price advances against declines, reached 90, well above the 70 threshold generally read as overbought; the trend can extend, but profit-taking at these levels would widen volatility. History argues for caution too. Earlier this year the token lost 76% of its price in a single day, and blockchain investigator ZachXBT publicly questioned its valuation and token economics at the time. A drawdown of that size is the base case risk participants price into small-cap memecoins. Attention now sits on two levels, whether $0.85 holds and whether $1 breaks, while the sector's largest capitalizations lose ground. Dogecoin's 5.5% one-day loss against Memecore's 25% gain frames the rotation in plain arithmetic, and the weakness is not new: Dogecoin trading volume had already slumped 49% in quiet weekend trade before this week's move. Flow data points the same way. Dogecoin products recorded a $29.69 million net outflow, the second-largest among tracked assets, and on-chain records show a single whale transfer of 300 million DOGE to Binance in one $24.1 million move. Capital inside the memecoin segment is concentrating into a 51st-ranked token rather than spreading across its leaders.

The pressure on Dogecoin comes despite fresh work on its utility. Dogecoin Labs, working with the Dogecoin Foundation, has folded the MyDoge wallet, DogeOS and the Search app into a single platform aimed at widening the token's use in payments, DeFi and gaming, with CEO Jordan Jefferson gathering the ecosystem's core developers behind the effort. The integration followed the public testnet launch of DogeOS, which lets developers build Ethereum-compatible applications on the Dogecoin network. Sentiment data adds a nuance: the 365-day MVRV fell to 0.74, leaving recent buyers underwater, though analysts read the level as a sign selling may be nearing exhaustion.

Dogecoin Stuck Below $0.083

The levels that matter for DOGE now sit in a narrow corridor: nearest support at $0.0772 scored 100 out of 100 in COINOTAG's composite scoring, with a second support at $0.0720 scored 83, while resistance at $0.0804 scored 100 and a further ceiling at $0.0862 scored 90. Spot trades at $0.0788 after the 4.11% one-day decline, so a break of either edge of that support and resistance band would settle the short-term direction. Positioning leans against the downtrend this time: perpetual funding sits at -0.0008% and open interest holds at $416.7M in the crypto futures market, with the long/short account ratio at 3.63, 78.4% of accounts long, even as the MACD turned bearish, the RSI at 36.60, and the composite trend reading at downtrend. Sentiment outside the tape is still risk-on: the Fear & Greed Index reads 68, in greed territory, against a COINOTAG-tracked market cap of $2.40T with BTC taking 68.1% of it. A break above the 100-scored resistance at $0.0804 would break the downtrend recorded across DOGE's indicators, while a loss of the 100-scored support at $0.0772 would hand the tape to sellers (as of 00:12 UTC).