M slides around 11.5% as sellers dominate momentum and volatility spikes

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Memecore drops 11.59% today

Highlights

Large-scale short liquidations drove MemeCore trading volume above its 30-day average, with market capitalization near $3.44 billion.
Profit taking and increased risk aversion occurred after a weekly rally, as 56 million unlocked tokens exerted pressure in prior weeks.
MemeCore trades above short-term averages but below the long-term trend, with mixed momentum and an expected range of $1.0837 to $2.0042 over five days.

Volatility surges as short liquidations meet post-rally profit taking

MemeCore, a Layer 1 blockchain for memecoins and creators, saw large-scale short liquidations lead to a surge in trading volume above its 30-day average on September 21, 2026. Shortly after, profit taking was reported as risk aversion increased, following a significant weekly rally. An earlier unlocking of over 56 million MemeCore tokens on September 2, 2026, was noted as an additional source of pressure in prior weeks, and market capitalization stands near $3.44 billion, though price action has remained under broader selling pressure.

Anton Kharitonov, expert at Traders Union, sees the sharp 11.59% drop in MemeCore as a sign that sellers remain firmly in control. He notes the recent unlocking of more than 56 million tokens has undermined confidence and created lingering downward pressure on the asset. Despite some bullish technical signals, the analyst warns that overbought readings and weak trend strength limit prospects for significant recovery. Kharitonov points to the asset's inability to regain ground above the 200-day moving average as a structural weakness. "Unless sentiment and fundamentals improve, MemeCore risks deeper corrections and heavy volatility," he concludes.

Viktoras Karapetjanc, expert at Traders Union, sees recent volatility as a normal response to profit taking after MemeCore's robust rally. He highlights that market capitalization near $3.44 billion and sustained trading above key short- and medium-term moving averages reinforce a constructive outlook. Karapetjanc emphasizes that elevated trading volumes and short liquidations signal continued market engagement and opportunity for growth. "The bullish structure remains intact and further upside is likely if resistance at $1.3735 is cleared," he asserts.

Sholanke Dele, market strategist, observes sentiment shifting negatively as risk aversion rises after the recent surge. He notes that profit taking and persistent selling pressure have dampened confidence, especially with the price stuck near session lows. Dele regards the elevated volatility and failure to break through key resistance as warning signs. "Traders should stay cautious, as downside risks remain and confidence looks fragile in the near term," he warns.

Bullish signals clash with overbought risk as momentum indicators diverge

M is trading above both the 20-day ($1.2034) and 50-day ($1.1589) moving averages, which maintains a bullish structure in the short and medium term. However, remaining below the 200-day ($2.0923) average highlights a bearish long-term alignment. Immediate resistance appears at the Ichimoku Kijun ($1.3735), while support is established at the 20-day average ($1.2034). Technical momentum is mixed: the MACD gives a buy signal indicating bullish momentum, but the ADX is neutral and suggests weak trend strength. Overbought warnings come from the RSI, Stochastic RSI, and CCI. The Bull/Bear Power measure is positive, and the Awesome Oscillator favors buyers, yet momentum indicators continue to diverge, showing signs of buyer dominance amid overbought risk. Volatility is elevated at 5.05%, with the pair trading near session lows after declining from an initial gap lower.

Earlier, analysts noted that MemeCore was experiencing short- and medium-term bullish momentum despite facing ongoing longer-term resistance. The current session highlights a reversal as profit taking and renewed selling have weighed on price, with the key upside risk now hinging on a sustained break above the Ichimoku Kijun resistance at $1.3735.

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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