Selling pressure pushes MemeCore price lower in today's trading

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Memecore slides 10.17% today

Highlights

MemeCore implemented network upgrades and fee reductions to enhance support for meme asset activity on its Layer 1 blockchain.
Whale wallet accumulation increased following the project's cashtag listing on X, but overall price action faces persistent selling pressure.
M/USD trades below key moving averages amid high volatility, with the expected five-day range between $2.83 and $3.75 as trend signals diverge.

Capital rotation and whale activity rise amid broader selling pressure

MemeCore recorded recent network upgrades and reduced fees as part of its ongoing efforts to support meme asset activity on its Layer 1 blockchain. The project secured an official cashtag status for “$M” on X, accompanied by increased whale wallet activity and attention to its Proof of Meme consensus mechanism. Capital rotation by large holders and recent infrastructure improvements have been noted in the ecosystem, though price action has remained under broader selling pressure.

Anton Kharitonov, expert at Traders Union, notes MemeCore's 10.17% daily drop shows ongoing short- and medium-term weakness. He highlights the failure to hold above both the 20-day and 50-day SMAs, despite improvements in network infrastructure and fee reductions. Kharitonov points to conflicting signals between momentum indicators and oscillators, raising doubts about sustained buyer control. He cautions that rising whale attention and network progress have yet to offset broad selling pressure. "Until MemeCore reclaims key resistances and proves buyer conviction, I see risk of further downside correction," warns Kharitonov.

Viktoras Karapetjanc, expert at Traders Union, believes MemeCore’s long-term bullish structure remains intact. He views the recent network upgrades, whale activity, and official cashtag milestone as strong signs of fundamental growth and deepening adoption. The asset’s distance above the 200-day SMA underlines strong underlying demand. Karapetjanc expects this setup to offer further upward opportunities as volatility attracts fresh participation. "With structural upgrades and renewed sentiment, I anticipate MemeCore to outperform and break above key resistance levels," affirms Karapetjanc.

Parshwa Turakhiya, analyst, sees short-term price action caught between profit-taking and resilient bullish signals from oscillators. He points out dynamic resistance at $3.7243 and the wide intraday swings as creating both risks and tactical buying opportunities. Turakhiya finds the ADX strength and persistent RSI optimism notable even as trend momentum fades. "I’d watch for sharper breakouts or reversals around $3.72 and $2.83 — sentiment-driven traders should stay nimble here," says Turakhiya.

Conflicting oscillator strength as sellers control short-term momentum

M/USD is trading below the 20-day and 50-day simple moving averages ($3.2826 and $3.2723), indicating sellers now have short- and medium-term control, but remains well above the 200-day SMA ($2.0667), confirming longer-term bulls retain structural support. The nearest dynamic resistance is the Kijun level from the Ichimoku indicator at $3.7243, with short-term support expected near the 50-day SMA. Momentum readings are conflicting: the MACD on the daily chart shows a bearish bias, but the Average Directional Index (ADX) remains in buy mode, signaling robust trend strength. The Relative Strength Index (RSI), Stochastic RSI, and Commodity Channel Index (CCI) all signal healthy or even strong buying interest with no overbought extremes. Bull/Bear Power (BBP) value remains positive at 0.2738, confirming intraday buyers maintain dominance. The daily session features a 1.4-cent upside gap at the open, but the price reversed sharply to test daily lows, down 10.17% on the session with volatility at 11.48%. The intraday tone reflects pressure after the open. Divergence between weakening momentum and persistent bullish signals from oscillators signals growing caution among bulls.

Earlier, analysts noted that MemeCore maintained a broadly bullish outlook despite mixed technical signals and short-term volatility. With recent network upgrades and heightened whale activity now shaping sentiment, traders should watch for decisive moves above $3.72 or below $2.83 to determine whether bullish or corrective momentum prevails in the days ahead.

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

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