- Magic Eden price surged more than 35% amid a breakout above the key $0.50 resistance
- Trading volume jumped 1,280% to more than $129 million, signaling strong buying pressure
- A “big week” ahead and other possible catalysts could fuel ME’s bullish run
Magic Eden’s native token, ME, experienced a sharp price surge over the past 24 hours.
The token climbed to an intraday high above $0.60 for the first time since the October 11 collapse, as bulls returned and the market tested another important technical barrier.
With altcoins ranking among the top performers across the 500 largest cryptocurrencies by market cap, buyers appear keen to hold key levels and target new gains.
But what could drive ME higher in the near term?
Magic Eden among top gainers as price jumps 35%
According to CoinMarketCap data, Magic Eden’s ME token stood out among digital assets during the latest market move.
ME’s 24-hour gain of roughly 35% coincided with robust trading volume of around $129 million — a 1,280% increase over the previous 24 hours.
This performance not only outpaced the broader market but also eclipsed notable projects such as Pi Network, Virtuals Protocol, and Zcash in recent moves.
On October 24 ZEC traded near $270 and was closer to $350 at the time of writing.
Technically, ME cleared the important $0.50 resistance and touched an intraday peak near $0.60.
While still far from its all-time high above $13.24, the token has bounced from a cycle low of $0.23.
ME could retest $0.55 or $0.50 before participating in a broader market upswing that targets the psychological $1 level.
The RSI around 60 suggests bulls have room to push for additional gains.
Price chart
What could lift Magic Eden’s price further?
Several converging factors appear to have sparked this recent pump.
Notably, Magic Eden’s official X account posted an upbeat but vague announcement this morning: “A big week ahead.”
The post, which drew over 300 likes and widespread speculation within the community, hinted at upcoming announcements or developments that could support further platform growth.
Communications like this from a project’s official channels often act as potential catalysts, attracting retail traders and amplifying social momentum.
ME’s gains also followed positive sentiment around Dynamic’s recent acquisition by Fireblocks, announced on October 23.
As a major user of Dynamic’s platform, Magic Eden stands to benefit from the integration.
Dynamic powers more than 50 million on-chain accounts for industry leaders including Kraken, Ondo Finance, Magic Eden, and zerohash.
The integration promises seamless user onboarding for Magic Eden plus an embedded wallet experience for cross-chain NFT trading.
The deal combines Fireblocks’ institutional custody capabilities with Dynamic’s streamlined tooling, described by executives as a “first-to-consumer custody stack” for on-chain finance.
Overlaying these platform-specific tailwinds is the wider crypto market recovery.
While October 2025 gains remained muted amid macroeconomic headwinds, Bitcoin climbing toward $116,000 and Ethereum breaking above $4,200 have energized bullish sentiment.
This “big week” for crypto includes events that could spark rallies ahead of U.S. central bank rate decisions, developments in U.S.–China trade, and potential SEC approvals for exchange-traded products.
Any macro upside could spill over into altcoins like Magic Eden, supporting further upside for ME.