According to reports from Crypto.news, MemeCore has surged more than 111% over the past seven days after recovering from a sharp selloff that erased more than 80% of its value in late June. The token jumped from approximately $0.51 to a weekly high of $1.79, with the recovery driven by security updates and improving market sentiment. However, the latest data from AMBCrypto shows the token has since declined 11% over the past 24 hours, erasing about a tenth of its accumulated gains and raising concerns about potential selling pressure.
As reported by AMBCrypto, MemeCore is currently testing a major horizontal resistance level at $1.28 within a symmetrical triangle pattern. The formation typically develops after sharp price advances as prices consolidate between converging support and resistance lines, often preceding a breakout. A break above the $1.28 level would still leave the price facing the pattern's descending resistance, while clearing both barriers could confirm a stronger bullish move. The token has reached a weekly high near $1.79 before easing into consolidation around $1.48, with immediate resistance remaining near $1.60 and the recent swing high around $1.80.
According to AMBCrypto, capital is contracting across MemeCore's markets with mounting selling pressure in perpetual markets despite positive spot activity. Spot Netflow data showed buyers absorbed roughly $790,000 worth of M while sellers offloaded about $743,000, leaving a slim net inflow of around $56,000. However, perpetual contracts drew a netflow of roughly $668,200, with rising inflows colliding with heavy selling volume. The Taker Buy Sell Ratio has slid to 0.823 in the latest CoinGlass reading, meaning market sells are outpacing market buys, leaving the token in a tight spot as it tries to rebuild momentum for a near-term move higher.
As reported by AMBCrypto, whale accumulation is emerging as a key factor supporting the token's recovery, with the Whale-to-Retail Delta recently flipping positive at 0.01, though only marginally. This shift points to whales stepping in while retail investors are exiting, as whales hold deep capital that frequently steers market direction. The Accumulation/Distribution (A/D) indicator is climbing, indicating that buying has outweighed selling across the broader market, with a sustained rise showing accumulation building beneath the price that tends to support the token over time. Despite the whale accumulation, most bearish pressure continues to originate from perpetual markets, while spot buying continues to outweigh selling.
