$M recently demonstrated impressive performance, with short-term gains remaining stable at 3.05%, and a trigger price of 1.68. Behind this market move, there are actually several layers of logic worth breaking down.

From a tokenomics perspective, $M employs a fee repurchase mechanism, combined with MaxPack, Boost, MaxPoint and other mechanism designs, establishing a real deflationary cycle and user incentive system. This mechanism has already proven its effectiveness in actual user testing — users who continuously participate in trading activities for 48 hours can convert on-chain signals and community activity into actual trading volume, indicating that the incentive model is indeed playing its guiding role.

At the ecosystem level, Memecore is deploying a new Perps+Yield model, with the official clearly identifying January 2026 as a critical milestone. This suggests that functional upgrades and incentive systems are incubating substantial breakthroughs, and market expectations for this are gradually being released.

More importantly, community data looks relatively healthy — transaction volume is rising, open interest remains stable, indicating that capital inflows are occurring in a low-leverage, high-participation state. This doesn't appear to be short-term speculation; rather, it demonstrates that the foundation for sustained accumulation is being formed.