Can M Break Out After Flipping Shiba Inu’s Market Cap?

• M trades at $2.4811 inside an ascending channel with all four EMAs below price and SAR at $2.5476 overhead.
• MemeCore flipped Shiba Inu’s market cap after a 32% weekly rally following the hardfork going live.
• The March 25 hardfork cut gas fees 100x from 1,500 gwei to 15 gwei, with Aster adding 50x perps.

MemeCore just flipped Shiba Inu to become the second largest memecoin by market cap, driven by a hardfork that cut gas fees 100x and a 32% weekly rally that caught most of the market off guard.

Memecore Chart: Ascending Channel Holds After The Spike

Memecore ran from around $1.65 in late March to a spike high near $2.80 on March 19 before pulling back sharply. Since then price has been building inside a tight ascending channel, with higher lows on each pullback and the channel boundaries clearly defined. All four EMAs are stacked below price and rising: the 20-day at $2.3699, the 50-day at $2.2224, the 100-day at $2.0407, and the 200-day at $1.8436. That EMA stack is the strongest bullish daily configuration possible.

The SAR at $2.5476 is the only overhead resistance on this timeframe, sitting just above current price. A 4h close above $2.5476 would flip the SAR to support and open the previous spike high near $2.80 as the next target. The ascending channel’s lower boundary near $2.20 to $2.25 is the floor to watch on any pullback.

Key levels for Memecore:

• Channel lower boundary: $2.20 to $2.25
• 20-day EMA support: $2.3699
• SAR resistance: $2.5476
• First target above: $2.80
• Extended target: $3.00

MemeCore’s $2.80 Ceiling: The Level That Decides Where M Goes Next

The 12h chart shows a pattern analyst AltCryptoGems flagged last week. Two equal highs near $2.80 are sitting at the top of the chart, marked clearly on the structure. Below them, a local support zone between $1.90 and $2.00 has been tested multiple times and held. After the breakout above that local support, price retested it and is currently holding above the flipped resistance.

Equal highs at $2.80 are the next target if the retest holds. A clean break above them with volume would open price discovery above $3.00 for the first time. The floor is $1.20 at the lower red level, but with the 4h channel intact and all four EMAs rising, that scenario requires a significant breakdown in the current structure.

What The Hardfork Changed

The March 25 hardfork was not a minor update. Gas fees dropped from 1,500 gwei to 15 gwei, a 100x reduction that makes on-chain activity on MemeCore meaningfully cheaper for everyday users and developers. 

Account abstraction was introduced alongside improved EVM compatibility, lowering the barrier for developers already building on Ethereum-compatible chains to deploy on MemeCore. The hardfork going live and stable removed the execution risk that had been hanging over the ecosystem, and the market responded with a 32% weekly move that took M above Shiba Inu’s market cap.

Additionally, Aster’s decision to list M perps with up to 50x leverage adds a derivatives layer that did not exist before, giving traders a way to express directional conviction without holding spot. That kind of infrastructure addition typically accelerates price moves in both directions.

Where Does Memecore Go In April?

• Upside: Clear the SAR at $2.5476 on a 4h close and the equal highs at $2.80 become the immediate target. A break above $2.80 with volume opens price discovery above $3.00. The hardfork narrative and the Shiba Inu flip give retail a story to follow, and the new perps market on Aster gives traders the leverage to amplify it.
• Downside: Lose the ascending channel’s lower boundary at $2.20 and the local support zone at $1.90 to $2.00 gets tested. That level has held multiple times on the 12h chart, but a break below it with heavy perps liquidations would accelerate the move toward $1.20 quickly.