The present invention provides a process for making an olefin product from an oxygenate-containing feedstock comprising:a) contacting the feedstock in a reaction zone with catalyst particles comprising a molecular sieve containing acid sites and having an average coke loading of 1 to 10 carbon atoms per acid site of said molecular sieve, under conditions effective to convert the feedstock into an olefin product stream and to provide unregenerated catalyst particles,b) removing a portion of said catalyst particles from said reaction zone and contacting said portion with a regeneration medium in a regeneration zone under conditions effective to obtain regenerated catalyst particles which have an average coke loading of no greater than 10 carbon atoms per acid site of said molecular sieve, andc) introducing said regenerated catalyst particles into said reaction zone to provide a catalyst mixture of unregenerated catalyst particles and regenerated catalyst particles, in an amount sufficient to provide an average coke loading on said catalyst mixture in an amount ranging from 1 to 10 carbon atoms per acid site of said molecular sieve.