- Magic Eden’s price surged more than 35% after breaking above the key resistance at $0.50.
- Trading volume jumped 1,280% to over $129 million, signaling heavy buyer activity.
- A “big week” ahead and other potential catalysts could push ME bulls further.
The native token of Magic Eden, ME, has seen a notable price increase over the past 24 hours.
Prices climbed to intraday highs above $0.60 for the first time since the crash on October 11, driven by a renewed test and breakout above a key technical barrier.
As altcoins rank among the top gainers within the 500 largest cryptocurrencies by market capitalization, buyers appear positioned to hold the decisive level and aim for another rally.
But what could drive ME’s price in the near term?
Magic Eden among top gainers as price rises 35%
According to CoinMarketCap data, Magic Eden’s token ME is one of today’s standout performers in the crypto arena.
The token’s 35% gain over the last 24 hours came alongside a surge in trading volume to $129 million — a 1,280% increase versus the previous day.
These figures not only outpaced the broader market but also eclipsed other top performers like Pi Network, Virtuals Protocol and Zcash.
On October 24, ZEC traded around $270, but at the time of writing it was trading nearer $350.
From a technical perspective, ME cleared the critical $0.50 resistance and reached an intraday high of $0.60.
Although the altcoin still sits far below its all-time high above $13.24, bulls have bounced from the historic low near $0.23.
ME may retest $0.55 or $0.50 before capitalizing on broader market momentum and targeting the psychological $1.00 level.
The RSI around 60 suggests bulls still have room to push for further gains.
Magic Eden price chart from TradingView
What could help boost Magic Eden’s price?
Several factors appear to have combined to ignite this upswing.
Notably, Magic Eden’s official X account posted a brief but upbeat message early in the morning: “Big week ahead.”
The post, which gathered more than 300 likes and sparked community speculation, hinted at upcoming announcements or events that could further support platform growth.
Communications of this kind from project teams often act as powerful catalysts, drawing retail traders and amplifying social sentiment.
ME’s gains also come amid community approval of the recent acquisition of Dynamic by Fireblocks, announced on October 23.
As a key user of Dynamic’s developer platform, Magic Eden stands to benefit materially from that integration.
Dynamic supports more than 50 million on-chain accounts for industry participants including Kraken, Ondo Finance, Magic Eden and Zerohash.
Smoother user onboarding and native wallet features enable Magic Eden to facilitate NFT trading across multiple networks.
The deal pairs Fireblocks’ institutional-grade custody with Dynamic’s flexible developer tools, which executives describe as the first complete consumer-focused custody stack for on-chain finance.
These favorable tailwinds for the platform come alongside a broader crypto market rebound.
While October 2025’s gains have been somewhat muted amid a challenging macro backdrop, Bitcoin’s rise toward $116,000 and Ethereum’s breakout above $4,200 have energized bulls.
A “big week” for crypto could include a pre-Federal Reserve policy shift rally, progress on US-China trade dynamics, and potential SEC approvals for exchange-traded products.
Positive macro developments would likely spill over into altcoins like Magic Eden, supporting further upside for ME.