MemeCore rises nearly 10% as $10 million token buyback announcement boosts sentiment

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MemeCore up 9.74% to $1.43 today

Highlights

MemeCore Foundation's $10 million buyback after June's correction has driven positive sentiment and sharply reduced circulating supply.
Enhanced market liquidity and new perpetual futures listings on Binance and Bybit have expanded access and improved trading conditions for MemeCore.
Short- and medium-term technicals confirm bullish momentum, with price near $1.4376 and a forecast range of $1.2702 to $1.9267, though overbought signals caution against chasing highs.

Token buyback and expanded trading access drive liquidity boost

The MemeCore Foundation's announcement of a $10 million treasury-backed token buyback following June's price correction has directly boosted sentiment and reduced circulating supply, engaging both new and returning buyers, according to Crypto. This program has also led to improved market liquidity, providing more active trading conditions and easing entry for investors. In parallel, perpetual futures trading became available for MemeCore on Binance and Bybit, expanding access to a broader range of traders, and recent security updates have further supported trust in the ecosystem.

200-day average limits advance as technicals remain bullish but stretched

Technically, M has cleared the 20-day ($1.3753) and 50-day ($1.3037) moving averages but remains capped below the 200-day ($2.2168), with the Ichimoku Kijun offering immediate support at $1.4009. On the indicator front, the Moving Average Convergence Divergence (MACD) signals Buy while the Average Directional Index (ADX) is Neutral, indicating firm upward momentum but some uncertainty over trend strength. The Relative Strength Index (RSI) reads 64.2, joined by a Buy from the Commodity Channel Index (CCI), and Bull/Bear Power reveals dominant buyer presence. Stochastic RSI is Overbought and the Awesome Oscillator supports ongoing bullish momentum, though these stretched levels warrant vigilance for sudden pullbacks in a high-volatility environment.

Sideways action projected amid volatility and breakout risks

Over the next one to two trading days, the forecasted price range for M is $1.2702 to $1.9267. The prevailing scenario points to sideways movement within this volatility band, but a decisive breakout above resistance could trigger additional gains beyond the upper end. Should the market reverse, a retreat below immediate support near $1.2702 would be needed to call a bearish turn.

Anton Kharitonov, expert at Traders Union, sees the recent MemeCore rally as mainly driven by treasury-backed buybacks and improved market access. He notes positive technical signals, but highlights that upside is limited by resistance and volatility remains high. Kharitonov remains cautious due to stretched momentum indicators and the potential for pullbacks. "Until $1.2702 is lost or $1.9267 is broken with volume, I prefer to stay on the sidelines and observe how liquidity responds to these levels."

Earlier, analysts noted that MemeCore’s rebound efforts including the Foundation’s token buyback, had yet to reverse the token’s broader bearish structure and persistent seller dominance. With current price action now exhibiting sustained bullish momentum above key moving averages and increased liquidity from expanded trading venues, traders should monitor for a potential breakout above resistance that could shift the prevailing range-bound scenario.

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.