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. 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. 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. 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. 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.