Memecoin [MEME] Surges 42% in a Single Day – Sustainable Rally or Short-Lived Pump?

As of April 19, 2025, Memecoin (MEME) has experienced a dramatic 42% price increase within just 24 hours, sparking intense debate among traders and analysts. This sudden upward movement has divided market participants into two camps: those who believe this marks the beginning of a new bullish trend for the meme-inspired cryptocurrency, and others who caution that it could be a classic bull trap designed to lure in unsuspecting buyers before a potential reversal. The surge comes amid heightened volatility in the altcoin markets, with particular attention being paid to whether MEME can sustain this momentum or if profit-taking will trigger a pullback. Technical analysts are closely watching key resistance levels, while fundamental observers are examining whether there’s any underlying development driving this price action beyond speculative trading.

Source: Coinglass

When Open Interest and volume simultaneously rise, it reflects a growing demand for the asset, thus traders open new positions for strategic positions. With the recent price pump, the question is what’s driving the rally.

According to AMBCrypto’s analysis, the recent price pump arises from rising demand and interest in joke-themed tokens.

Can Memecoin sustain its gains?

As per AMBCrypto’s analysis, MEME is experiencing strong demand, with buyers taking hold of the market. The surge in exchange withdrawals confirms the rising demand.

The altcoin’s spot netflow has declined by $1.87 million in three months. Such a massive negative netflow indicates that there are more outflows from exchanges than inflows.

Usually, a higher outflow suggests growing accumulating addresses.

Source: Coinglass

On top of that, buy-side pressure has intensified.

Over the past day, buy orders crossed 761 million, with order books now favoring bulls. This imbalance often precedes price climbs and reinforces the current momentum.

Source: MobChart

Simply put, MEME is seeing significant gains as demand rises. With buyers taking hold of the market, it suggests that investors are bullish and anticipate more growth on the price charts.

For MEME to sustain these gains, it has to successfully breach and flip the $0.0028 resistance, turning its support.

A daily close above $0.0022 will hold the bullish outlook. However, if holders who have been underwater for the past month turn into profit-taking, the memecoin could retrace to $0.00145.