Memecore’s rejection at $3 traps bulls: Here’s what happens next

A notable shift in the price of Memecore [M] was recorded today. According to the CoinMarketCap data, M initially surged over 5.50% but later dropped by 3.5%, raising questions about the sudden decline.

Several factors appear to be the key drivers behind the M token’s price dip, including a reversal from a key resistance level, a sell-off by long-term holders, and bearish bets by traders.

**Memecore: Price action hints at a potential 23% fall **

On the daily chart, M appeared to have made a strong bullish fakeout, trapping bulls, as it broke the key $3 resistance level it had been facing since the 18th of September, 2025.

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However, after hitting an all-time high, the price dipped sharply and appeared to be reversing, similar to what was seen in September 2025 and November 2025, when the asset plummeted by over 46% and 58%, respectively.

Source: TradingView

Looking at the current price action, if M closes a daily candle below the $2.60 level this time, there is a strong possibility that it could repeat its past pattern and see a price drop of 23%, potentially reaching the $1.98 level.

However, an upside rally would only be possible if M closes its daily candle above $3.

At press time, the technical indicator Average Directional Index (ADX), which measures trend strength, has risen to 51.71—well above the key threshold of 25—indicating a strong directional trend in the market.

**M Token: Investor and trader sentiment turns bearish **

According to M’s Spot Inflow/Outflow data, a massive $1.02 million worth of assets has moved into exchanges over the past 24 hours, indicating preparation for a potential sell-off.

This exchange inflow appears to be its highest level since December 2025, suggesting that investors may be taking advantage of the recent price jump and booking profits near a key resistance level that has a history of reversals.

Source: CoinGlass

Traders also appeared to be following the same trend. The exchange liquidation map data showed that $2.514 and $3.039 were two major levels where traders were overleveraged, with $361K worth of long positions and $1.14 million worth of short positions built at these levels.

Source: Coinglass

So, M’s price looks unlikely to climb to the $3.039 level anytime soon.

Final Summary

• Memecore is poised for a 23% price dip and appears to be repeating its historical pattern near the key resistance level of $3.
• M’s long-term holders have sent $1.02 million worth of assets to exchanges, indicating preparation for a potential sell-off.