MemeCore drops around 12.5% after bearish momentum and technical weakness deepen

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Memecore slides 12.56% today

Highlights

MemeCore operates a Layer 1 chain using Proof of Meme to reward cultural participation, supporting gas fees, staking, governance, and consensus with its native token.
Market capitalization stands between $1.8 billion and $2.1 billion, below the July 2026 peak, amid broad selling pressure.
M/USD trades well below major moving averages with strong downside momentum; next five-session range projected at $0.5125 to $0.7683 with high probability of further declines.

Market cap lags highs as broad selling tempers sentiment boost

MemeCore, a Layer 1 blockchain focused on meme culture and EVM compatibility, has been highlighted for its innovative Proof of Meme and on-chain contribution mechanisms designed to reward cultural participation and support community coordination. Recent reports noted its native token is used for gas fees, staking, governance, and consensus across the network. The project's market capitalization was recorded between $1.8 billion and $2.1 billion, below its all-time high in July 2026, though price action has remained under broader selling pressure.

Anton Kharitonov, expert at Traders Union, sees persistent selling in MemeCore as a sign of deep market skepticism. He points to the steady decline below major moving averages and confirms that bearish technicals outweigh any positive news flow. Kharitonov highlights oversold momentum readings but remains doubtful about a fast reversal. He notes that innovation in Proof of Meme has not translated to buyer confidence. "Despite extreme oversold levels, I do not see a compelling argument for upside until technicals show real improvement and the selling exhaustion appears."

Viktoras Karapetjanc, expert at Traders Union, is constructive on MemeCore’s long-term outlook due to its strong fundamentals and growing on-chain participation. He believes recent selling is a typical correction phase following ambitious growth, not a structural failure. Karapetjanc views the project’s innovative reward mechanisms and EVM compatibility as drivers for future adoption. He sees the volatility band as a chance for disciplined entries and potential expansion. "Market offers multiple setups here — I see opportunities for accumulation as bullish structure remains intact over the longer horizon."

Jainam Mehta, market strategist, sees technicals pointing toward sustained weakness but spots tactical interest for nimble traders. He notes the heavy oversold readings could fuel a short-term squeeze, even as lower supports beckon. Mehta highlights that volatility and session lows set the stage for contrarian moves if momentum fades. "A potential breakout above $0.7683 could be quick and sharp if sellers lose steam — I’d keep watch for sudden sentiment shifts in this range."

Bearish structure as oversold momentum coincides with resistance barriers

M/USD is trading well below its 20-day, 50-day, and 200-day moving averages at $0.9522, $1.0965, and $1.9854 respectively, confirming sustained downward pressure across all timeframes. Near-term resistance is set at $0.7292, with immediate support at $0.5125, while the Ichimoku Kijun line at $1.0233 remains a distant resistance point and the longer-term alignment stays bearish. Momentum indicators underscore a heavy bearish bias: the Moving Average Convergence Divergence (MACD) and Average Directional Index (ADX) both signal selling pressure. The Relative Strength Index (RSI) at 22.37, Stochastic RSI at 0, and Commodity Channel Index (CCI) at -138.69 all indicate extreme oversold conditions. Bull/Bear Power (BBP) at -0.0809 shows sellers firmly dominate intraday momentum, and the oversold readings reinforce this. The Awesome Oscillator also confirms the bearish tone. The pair is trading at $0.6778 after slipping $0.0974 or 12.56% on the day, opening with a downside gap of approximately 2%. Price is positioned near session lows, and intraday volatility stands at 2.99%. The intraday tone is weak with persistent downward pressure after the open, consistent with momentum signals.

Earlier, analysts noted that MemeCore was experiencing persistent bearish momentum with little prospect of a short-term recovery. The latest technical breakdown and oversold signals reinforce this weak outlook, and traders should closely monitor the $0.5125 support level for signs of further downside risk.

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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