MemeCore breaks out of correction | Credit: Veronica Cestari
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Key Takeaways
After plunging from its $1.15 all-time high to $0.60, M has surged 30% in 24 hours.
On-chain data shows Weighted Sentiment back in the green, signaling renewed optimism.
The AO prints higher green bars, and DMI favors buyers (+DMI at 44.35 vs. -DMI at 6.66).
On August 30, MemeCore (M) hit an all-time high of $1.15. A day later, the price tumbled to $0.60.
As of this writing, however, the token has staged a sharp rebound, climbing 30% in the past 24 hours to trade at $0.83, despite relatively muted trading volume.
Yet, this analysis reveals that MemeCore’s price is not ready for another correction. Instead, it looks ready to retest its all-time high.
MemeCore Rebounds
Over the weekend, MemeCore’s price slipped below key Exponential Moving Averages (EMA), specifically the 20 EMA (blue) and the 50 EMA (yellow).
This breakdown signaled short-term weakness, as falling below these EMAs indicates that momentum is shifting away from the bulls. Currently, however, momentum has shifted back in favor of the bulls.
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The 20 EMA has crossed above the 50 EMA, forming a golden cross, a bullish signal. At the same time, MemeCore’s price has risen above both moving averages, reinforcing the case for continued upside.
While resistance sits at $0.86, bulls will likely defend the support at $0.67 and $0.59. If this remains the case, M might break out toward $1 again.
Furthermore, on-chain data from Santiment shows that Weighted Sentiment has flipped back into positive territory. Traders are once again talking about MemeCore with optimism.
When sentiment turns positive, it mainly attracts fresh demand and fuels bullish momentum. Thus, if this trend holds, it could push M’s price to retest $1.00 and challenge its all-time high.
From a technical standpoint, the daily chart shows MemeCore’s price breaking above its falling trendline, signaling the end of a corrective phase.
Supporting this breakout, the Awesome Oscillator (AO) has printed higher green histogram bars, confirming that bullish momentum is gaining strength.
In addition, the Directional Movement Index (DMI) adds weight to the bullish outlook.
At press time, the +DMI sits at 44.35, far above the -DMI at 6.66, showing buyers are firmly in control. Meanwhile, the Average Directional Index (ADX) has climbed to 46.85, indicating that the trend is strong and gaining momentum.
Taken together, these signals reinforce the view that MemeCore may be gearing up for another leg higher—provided buyers continue to sustain the pressure.
Should this remain the same, M’s price will likely break the resistance at $1.10. Once this happens, the cryptocurrency could rise to a new all-time high of $1.76.
Disclaimer:
The information provided in this article is for informational purposes only. It is not intended to be, nor should it be construed as, financial advice. We do not make any warranties regarding the completeness, reliability, or accuracy of this information. All investments involve risk, and past performance does not guarantee future results. We recommend consulting a financial advisor before making any investment decisions.
Victor Olanrewaju is a crypto analyst and reporter at CCN with deep roots in on-chain research and technical analysis. His crypto journey began in 2017, but it was the 2020 Uniswap airdrop that sparked a full-time pivot into the space.
With a foundation in copywriting, Victor honed his craft creating high-converting content for leading crypto brokers — most notably an XRP price prediction that ranked #1 on Google during the 2021 bull run.
He later joined AMBCrypto in 2022, where he combined storytelling with technical and on-chain analysis to cover key market narratives.
In 2024, he expanded his expertise at BeInCrypto, collaborating with analysts and using tools like Glassnode, Santiment, and IntoTheBlock to break down Bitcoin and altcoin trends.
At CCN, Victor covers the top cryptocurrencies, memecoins, macro shifts, blending real-time insights with deep-dive metrics.
He holds a Bachelor’s degree in Physics from the University of Ibadan, equipping him to simplify complex data for a wide audience. Follow his work or connect on LinkedIn or X.
