$M has recently shown impressive performance, with short-term gains stabilizing at 3.05% and a trigger price of 1.68. There are several layers of logic behind this market movement that are worth analyzing.

From a tokenomics perspective, $M adopts a fee-repurchase system, combined with mechanisms like MaxPack, Boost, and MaxPoint, to build a genuine deflationary cycle and user incentive system. This mechanism has proven effective in practical user testing—users participating in trading activities for 48 consecutive hours can convert on-chain signals and community enthusiasm into actual trading volume, indicating that the incentive model is indeed guiding behavior.

At the ecosystem level, Memecore is laying out a new Perps+Yield model, with the official stating that January 2026 is a key milestone. This suggests that functional upgrades and incentive systems are brewing for substantial breakthroughs, and market expectations are gradually being released.

More importantly, community data appears healthy—trade counts are rising, open interest remains stable, indicating that capital inflows are happening under low leverage and high participation conditions. This is not typical of short-term speculation but rather shows that a foundation for sustained accumulation is forming.