-8.85% for MemeCore as liquidity migrates from whales

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MemeCore slides 8.85% today to $3.24

Highlights

MemeCore secured the official '$M' cashtag on X, boosting its visibility and facilitating broader user engagement on the platform.
Large holders recently took profits and shifted capital to earlier-stage projects, impacting liquidity and altering holding patterns for $M.
$M faces heavy intraday selling and trades below short-term averages, but strong longer-term signals suggest high odds of upward movement within a volatile $3.100–$3.600 range.

Profit-taking and cashtag visibility influence MemeCore flows

MemeCore obtained official cashtag status for '$M' on X (formerly Twitter) at the end of last week, increasing its visibility and simplifying tracking and discussion of the asset for users on the platform. Large holders were reported to have engaged in profit-taking, with some capital reportedly moving into earlier-stage projects, a factor that may have contributed to recent shifts in liquidity and holding patterns. MemeCore remains recognized among the top 100 cryptocurrencies by market capitalization, with on-chain meme activity reinforcing its profile in the sector, though price action has remained under broader selling pressure.

Mixed momentum signals as key resistance and buyer strength emerge

On the technical front, $M is trading below the SMA-20 ($3.2826) and SMA-50 ($3.2723), but well above the SMA-200 ($2.0667). The Ichimoku Kijun sits higher at $3.7243, marking a resistance level above the current price. Momentum indicators present mixed readings: the MACD on the daily timeframe signals a sell, while ADX suggests a firm buy. Both the RSI and CCI are in buy zones, and the Stochastic RSI is near overbought territory, reflecting positive sentiment without excess. Bull/Bear Power (BBP) at 0.2738 signals intraday buyer dominance; however, the Awesome Oscillator does not confirm upward momentum, and some short-term oscillators have softened. Price is currently near the session low after a volatile, wide daily range.

Sideways trading outlook amid heightened volatility and range boundaries

In the short term, price is expected to fluctuate within a typical volatility band between $3.100 and $3.600 over the next five trading days. This range keeps $M near the center of recent moves, reflecting current elevated volatility. The baseline scenario suggests $M will trade sideways within this corridor. A decisive move above $3.7243 would signal a potential bullish extension. Conversely, a break below the $3.10 support could prompt further declines before attracting renewed long-term buying interest.

Anton Kharitonov, expert at Traders Union, notes that MemeCore faces short-term selling pressure despite strong on-chain engagement and high market capitalization. He views the new cashtag status on X as a positive for visibility, but sees profit-taking by large holders as signaling caution in the near term. Technically, the asset remains below key short-term averages, and indicators remain mixed, suggesting no clear bullish momentum yet. "Until $3.7243 is reclaimed decisively, I remain cautious and expect further sideways to downside moves in the short run."

Earlier, analysts noted that MemeCore maintained a broadly bullish outlook despite recent mixed technical signals and short-term volatility. The current pullback adds a note of caution, as increased selling and shifting liquidity among holders underscore the importance of monitoring $3.10 as a pivotal support level that could redefine near-term price direction.

Source of Data: M Price Analysis by TU

The analysis is based on a proprietary model combining technical, on-chain, and expert data. Not investment advice. See methodology

The information is based on forecasts and does not constitute investment advice or a guarantee of future results. Market conditions may change. See our Disclaimer and Editorial Integrity for details.