Why is MemeCore price down today?

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Memecore slides 11.22% today

Highlights

MemeCore's 82% price collapse prompted a $10 million buyback by the Foundation, which denied any protocol failure and warned of impersonation scams.
Trading volume in MemeCore surged above its monthly average, but overall price remained under heavy and prolonged selling pressure.
Technical signals indicate dominant downside momentum, with $1.6704 as key resistance, $1.2611 as major support, and a 75% probability of further declines in the coming week.

Buyback activity and scam warnings drive volume amid relentless selling

MemeCore experienced extreme volatility after the Memecore Foundation initiated a $10 million buyback program following an 82% drop in late June. The Foundation denied any protocol or operational issues as causes for the crash and warned of impersonation scams targeting users. The period saw trading volumes in MemeCore rise above the monthly average, though price action has remained under broader selling pressure.

Anton Kharitonov, expert at Traders Union, believes MemeCore remains under strong downside pressure following the recent failed buyback. He notes that the token’s position under every key moving average confirms persistent selling force and technical weakness. Trading volumes rose, but buyers failed to absorb supply. He sees little evidence of sustained recovery as the MACD and ADX reinforce a sell bias while RSI and oscillators do not suggest exhaustion. "Current conditions do not favor bullish positions — caution is warranted until clear reversal signals emerge."

Viktoras Karapetjanc, expert at Traders Union, is confident that recent developments in MemeCore offer a strong foundation for future growth. He highlights that the Memecore Foundation’s decisive $10 million buyback and swift response to community concerns signal long-term commitment and reinforce investor trust. Karapetjanc sees higher-than-average trading volumes as a positive sign for renewed market activity and potential recovery. He expects that the market is setting the stage for a bullish reversal if resistance at $1.6704 is breached. "With volatility receding and structural support in place, I see further opportunities for upside and believe the bullish structure remains intact."

Broad technical weakness as moving averages and momentum remain bearish

M/USD trades below the $2.0448 MA-20, $2.655 MA-50, and $2.2213 MA-200, highlighting sustained downside momentum across short, medium, and long-term timeframes. The nearest resistance levels are $1.6704 and the Ichimoku Kijun at $1.87, while support rests at $1.5139. MACD and ADX indicate a sell bias and weak momentum; the RSI at 40.3719 does not signal oversold conditions, and the Stochastic RSI warns of an overbought setup. Intraday BBP at 0.2827 favors buyers, but the Commodity Channel Index and Awesome Oscillator remain neutral. The pair has slid $0.1993, or 11.22%, following a sharp downside gap, with intraday volatility at 10.34%.

Earlier, analysts noted that MemeCore was experiencing persistent volatility and mixed technical signals despite foundation-led buyback efforts to support the price. The latest developments reinforce this uncertainty, as sustained downside momentum and underperformance across all key moving averages suggest traders should closely monitor the $1.6704 resistance for any potential reversal.

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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