MemeCore’s Price Surge Sparks Skepticism Amidst Short Squeeze and Speculation

While MemeCore ($M) has experienced a significant price surge of 14% in the past week, driven by a short squeeze and retail speculation at the MemeX Liquidity Festival, futures traders remain skeptical. These traders continue to hold net short positions, indicating concerns about the coin’s sustainability and potential challenges related to institutional liquidity. Despite this rally, major cryptocurrencies like Bitcoin (BTC) and Ethereum (ETH) are facing bearish trends. The current rally appears to be driven by retail speculation rather than institutional involvement, as evidenced by limited institutional inflows into MemeCore.